The Barcelona-based hotel technology startup The Hotels Network successfully closed a new funding round of $3.7 million drawing in leading investors from Europe and the US to be part of its growth story. The funding round was led by Seaya Ventures with the participation of SeedRocket 4Founders. Existing investors include US fund NFX.
Founded in 2015, The Hotels Network is already profitable and works with 3,000 hotels in over 50 countries, including leading brands such as Iberostar in Europe, Grupo Posadas in America and Minor Group in Asia. It boasts a globe-spanning team of specialists in hospitality, product design and consumer marketing located in Barcelona, San Francisco, Mexico City, and Bangkok. Providing hotels with the technology to increase direct bookings, The Hotels Network offers its clients a unique set of tools to add personalization to hotel websites and booking engines.
The current product offering includes a comparator of reviews and prices, a full suite of personalization options, and predictive analytics that successfully help hotels bring back direct sales, increasing website conversions and equipping them with the right software to compete for customers online. The technology has shown proven results, with clients using The Hotels Network tools reporting a significant uplift in conversion rates– some seeing as much as +42% with sizable returns. At the core of what The Hotels Network does is personalization, offering each hotel a tailored approach represented through all its products and integrations.
The Hotels Network Founder and CEO Juanjo Rodríguez commented: “The company started as we identified a big gap between the quality of technology used by the large online players and that of hotels themselves, so we wanted to create a product to bridge that gap. This new investment will help us on our mission to define a new category in the hotel tech stack, focused on improving the user experience, direct bookings and revenue. With our latest product developments, we are able to assist hotels in more areas – with a strong focus on data and machine learning. We’ve found the way to transform data into revenue at scale.”