11 April 2024 – Tourism is back in the spotlight for consumers and businesses. One business developing software in the field has raised a large round of money to demonstrate that surge. Guesty, which helps hotel providers run their business on Airbnb, Vrbo, and directly to visitors, raised $130 million.
Despite the fact that the U.S. and China are still not recovering from the pandemic, the World Tourism and Travel Council expects the sector to generate a record $11.1 trillion in sales in 2024. Last May, Guesty’s rival Hostaway raised $175 million in its first significant funding round. With a $2 billion valuation, GetYourGuide raised $194 million a day after that news.
Guesty intends to expand its platform to include current customers first. He claimed the business already covers “hundreds of thousands” of properties and would expand on the one-stop-shop concept that many B2B IT companies are pursuing.
Conclusion
This round brings KKR partner and head of Europe Tech Growth Stephen Shanley, principal Lauriane Requena, and Inovia Capital partner Dennis Kavelman to the board. Shanley stated, “Guesty is a best-in-class operator and one of the clear leaders in the property management sector.”The short-term rental market has shifted, and this investment will help the company meet that growing customer needs.”
