When George Limbert began as president of Red Roof, he met with franchise operators of the hotel brand to better understand what was going well — and what was not.
25.08.2023 - 14:42 / skift.com / Justin Dawes
Five travel tech startups announced $62.1 million in funding this week.
>>Lodgify
The vacation rental software startup Lodgify has raised $30 million in Series B funding. It was led by Octopus Ventures with participation from Bonsai Partners, Aldea Ventures and ICF, as well as existing investors Intermedia Vermögensverwaltung and Nauta Capital.
The Barcelona startup’s software is meant to help short-term rental hosts manage and grow their small- to medium-sized portfolios. The startup’s software platform enables hosts without tech skills to build their own website and accept direct bookings and payments.
Lodgify plans to use the funding to accelerate global business and strengthen the product.
Lodgify now has nearly 200 employees, including a research and development team of more that 70.
>>Way
The software startup Way, based in Texas and Paris, raised a $20 million Series A round. It was led by Tiger Global, with participation from a number of hotel executives and groups, including MSD Capital.
The company’s integrated software is meant to help hotels more easily offer ticketed events and experiences through their own websites. The startup said it has reached millions in annual recurring revenue since it was founded in May 2020, averaging 20 percent growth each month.
Clients include groups like Bunkhouse Group, Highgate Hotels, Fairmont, Auberge Resorts, as well as independent hotels like The Little Nell in Aspen. Also included is the Kimpton Cottonwood of the InterContinental Hotels Group.
“Hotels are increasingly expected to go beyond providing a place to stay or dine, and to become true providers of experiences. We’ve always had some programming for guests and locals, but as we aspired to do more, the breadth of systems and staff resources required made delivering these experiences a challenge,” said Steve Shern, general manager of the Kimpton Cottonwood. “Way was the one-of-a-kind solution we had been seeking for years.”
>>Journey Hospitality
Journey Hospitality, which works in e-commerce for hotels, has secured $5.6 million (£5 million) of growth capital investment from Averroes Capital.
In the last year, the U.K. company released its Onejourney platform, which it called “Shopify for hotels.” Using the software, hotels can sell all the products and services they offer in one place online, meant to help guests more seamlessly purchase what they want.
The platform has been integrated into more than 100 hotel and resort websites, and there are a few dozen more set to come online. Journey said that clients have seen a 25 percent reduction of inbound consumer calls and twice as many sales, with 30 percent of online orders featuring multiple products.
The company also owns Gifted, a hotel
When George Limbert began as president of Red Roof, he met with franchise operators of the hotel brand to better understand what was going well — and what was not.
>>Ukio, a Barcelona-based short-term rental platform focused on remote workers, has raised $28 million (€27 million) in a Series A round of funding.
Three startups working in travel tech announced nearly $17 million in funding this week.
Big Tech companies are laying off tens of thousands of people.
Opinions vary widely about the state of investment in the travel tech startup world during this uncertain economic time, but one thing is for sure: it’s changing.
Four travel tech startups raised $158.5 million over the last week and a half.
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The hotel tech startup Mews has raised $185 million, a number high above typical venture capital fundraises in that industry.
Two tech startups involved in the travel industry raised $15.3 million this week.
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