Tune, ECM Libra invest in home-sharing platform

KUALA LUMPUR: Tune Plato Ventures Sdn Bhd, a joint venture between Tune and ECM Libra, has acquired a 50% stake in SubHome Management Sdn Bhd.

SubHome manages and markets a portfolio of home rentals and offers them, complete with hotel-services to vacation and business travellers looking for alternative, value-for-money lodging.

Tune group co-founder Tan Sri Tony Fernandes said Tune Hotels and SubHome share synergies where the platform increase lodging choices with a suite-like accomodation for value-conscious travellers and Tune Hotels guests.

The partnership helps SubHome to scale, enabling it to work with key distribution partners such as AirAsia, Tune Hotels and VIDI while granting SubHome operational leverage with customer support, loyalty and property management.

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