Bedding startup Parachute to open hotel in Venice
Very happy to see the continued growth of my friends and client Parachute, the rapidly growing bedding startup. Earlier this year, we moved them into incredible new office space on amenity rich Rose Ave in Venice, which doubles as their first brick and mortar store. Now they are using the gorgeous apartment above to create a deeper Parachute experience and amazing getaway on one of the coolest blocks in LA.
I also own their products and can validate that their bedding is so comfortable, clean and the real deal!
Business Insider 10/4/16, http://www.businessinsider.com/parachute-opening-hotel-in-los-angeles-2016-10/#at-2200-square-feet-the-parachute-hotel-is-fairly-spacious-kaye-told-us-she-envisions-it-being-used-for-private-stays-photo-shoots-and-other-events-1
One of the hottest bedding startups is opening a hotel in Los Angeles — and rates start at $600 a night
It seems reasonable to assume that the easiest way to know whether a product is worth buying is trying it out for yourself. That is, at least, the idea behind a brand-new hotel from Parachute, the direct-to-consumer bedding and home goods startup based in Venice, California.
Launched in 2014, Parachute has gained a bit of a cult following for the high-quality sheets it manufactures in Italy and then sells online and in its Venice showroom. At its new 2,200-square-foot penthouse hotel, guests can actually sleep on Parachute bedding and mattress pads, and try out its popular bath towels and bathrobes. Nightly rates for the one-bedroom loft will cost $600, and it can be booked on Parachute’s website.
“It is an opportunity for our community to engage with Parachute in a new and exciting way,” Parachute founder and CEO Ariel Kaye told Business Insider. “We wanted to create a space that would feel comfortable not only for a group of thirty, but also for a couple looking to relax on vacation and to experience Venice like locals.”
Let’s take a look at what guests of the Parachute Hotel can expect from their stay.
At 2,200 square feet, the Parachute Hotel is fairly spacious. Kaye told us she envisions it being used for private stays, photo shoots, and other events.
The space was designed by Scott Horne and Peter Dolkas, who also worked on Parachute’s showroom. And though the brand’s focus is on bedding and bath essentials, the furniture pieces seen throughout the penthouse are also available for purchase from other local brands. “It also features custom home furnishings, locally sourced amenities and inspired art,” Kaye said.
The select group of home decor brands includes a custom bed frame and kitchenware by Chris Earl, home goods by The Citizenry, and artwork by Cindy Zell and Lauren Williams. “We hand selected design partners that have a similar brand ethos to Parachute – driven by quality, design and responsibility,” Kaye said. “The local design community is small, so supporting each other is essential.”
The penthouse features one bedroom and one-and-a-half baths. The bed is decked out with Parachute bedding, plus a fiber bed, down-alternative mattress pad, a down-alternative duvet, and pillows.
And in the bathroom, guests can use Parachute’s classic towels in white, as well as the brand’s new white bathrobes. “The Parachute products in the hotel will change with the seasons and as we expand our assortment of home essentials. Often times, guests will be among the first to see and use these items,” Kaye said.
Guests will also get a special deal on products they purchase in the showroom, which is located directly below the Parachute Hotel on Rose Avenue.
Parachute’s customer base is half male and half female, and 30% are repeat customers. Parachute has raised at least $5.4 million in venture capital from Upfront Ventures, Joanne Wilson, QueensBridge Venture Partners, and Structure Partners, among others.
Parachute isn’t the first retail company to bet on hotels as an extension of their brand. In September, West Elm announced it was planning to open a chain of boutique hotels starting in 2018. In 2015, Restoration Hardware announced that it planned to open a boutique hotel in New York City, as did high-end gym brand Equinox.
Immersing guests in the neighborhood is another major goal of the project. “Rose Avenue is one of Venice’s main thoroughfares, and it’s quickly becoming the most vibrant and exciting block in the neighborhood,” Kaye said. “We are surrounded by some of the best food and shopping in Los Angeles. It’s super cool but retains a distinctly local feel.”
Kaye will provide guests with a guide to her favorite spots in the neighborhood, which include Café Gratitude, Groundwork Coffee, Moon Juice, and Oscar’s Cerveteca.
Though with digs like these, you might never want to leave.