Innovation

🏨 Mews experienced a 51% increase in monthly recurring revenue (MRR) from November 2023 to November 2024, processing over €10 billion in payments. The company secured $110 million in funding, reaching a valuation of over $1.2 billion, attaining unicorn status. Thousands of new hoteliers joined Mews, including major brands like BWH Hotels and Staypineapple. The Mews team grew to 1,217 employees and completed four major acquisitions. Mews also made its presence felt at numerous events, including the largest Unfold ever in Amsterdam, and celebrated multiple industry awards in 2024.

🏗 Hostaway, a vacation rental software platform, announced a strategic growth investment of $365 million led by General Atlantic and PSG Equity on December 17, 2024. With properties across 90 countries, the investment follows Hostaway's $175 million fundraise in 2023, marking the segment's largest capital raise. The company, founded in 2015 and managing over 230 employees in 44 countries, aims to use the investment for international expansion, product development, and AI initiatives. Hostaway has also secured high partnership designations with Airbnb, VRBO, and Booking.com, and offers a fully remote workforce. The short-term rental sector is valued at $133 billion GMV and has grown at a 12% CAGR over the last decade.

📱 Danica Smith, Founder of MorningStar GX, discussed enhancing the guest experience using technology in hospitality on Dec. 19, 2024. Key insights include focusing on guest satisfaction, the importance of simplicity in tech adoption, the value of beta testing, viewing tech providers as partners, the impact of industry acquisitions on integration, and advice on evaluating tech partners. ????

🏨 Nearly 65% of hotel guests feel digital signage solutions enhance their stay, prompting hoteliers to consider updating these technologies. Digital signage, equipped with various sizes and features, ensures consistent staff service and entertains guests. Optimal placement for staff communication includes areas where employees convene. For guests, large dVLED displays in lobbies or restaurants provide information and ambiance, elevating the experience and potentially increasing revenue by keeping guests on-site.

💻 When pitching IT projects, Tudgay and Li emphasize understanding the audience; owners care about different aspects like innovation, security, or profitability. Li's approach at JC Resorts, learned from a 20-year tenure, stresses instilling confidence by demonstrating immediate tech improvements, like upgrading to Outlook. Previously, the company had zero tolerance for wasting money on technology, but Li's success led to significant trust and million-dollar IT project budgets. Presenting ROI and thorough preparation are crucial to secure leadership and operations buy-in before budget meetings.

🚀 beOnd, the first premium leisure airline, has partnered with ZYTLYN Technologies to accelerate growth via AI-driven marketing, which could boost ROI by up to 350%. The technology provides predictive analytics for strategic planning and autonomous marketing orchestration. Dhaz Hunjan, CCO of beOnd, emphasizes innovation for customer experience, while ZYTLYN's Houman Goudarzi notes AI's revolutionary role in the industry. The platform allows integration with revenue management for enhanced control.

✈ IATA's program NDC aims to modernize flight purchasing, like Amazon and Netflix's personalized experience. As of now, 76 airlines have adopted NDC. FLYR, an airline retailing company, secured $295M in investment to support Riyadh Air's digital journey. Data from IATA indicates 64% of Tier 1 airlines, 40% of Tier 2, 16% of Tier 3, and less than 1% of Tier 4 airlines have implemented NDC. The modernization movement could benefit mid-tier and regional airlines by fostering connections to remote destinations and boosting revenue.

💸 Falk Rudolph, with two decades of experience in ground transfer, has been appointed chief growth officer at Hubby eSIM. Joining from HBX Group where he served as head of sales since 2021, Rudolph is tasked with leading the Amsterdam-based startup's expansion, market penetration, business development, and strategic partnerships. CEO Thijs van de Wijk highlighted Rudolph's 19-year track record in travel industry sales and its alignment with Hubby eSIM's strategic objectives, aiming to establish the company as a global B2B eSIM industry leader.

🎉 STAAH, a hospitality technology solutions provider, announced its December 2024 product updates to enhance user experience. New features include a drag-and-drop option for updating availability formulas in bulk, a hide availability function, multi-selection for weekends, property-level yield based on inventory, a master room type link, and enhancements to the Max V2 Matrix for revenue control. The Booking Engine now allows color customization of the WatchMyRate (WMR) comparison widget, displays up to five channels, and introduces a new 'Package View' for SwiftBook. Moreover, a counter is added for promo codes with a limit on booking numbers, configurable at both property and group levels. For properties offering day-use rates, new widget designs (Widget I and II) are provided, and a new Booking Engine Dashboard displays real-time visitor stats and other key performance metrics. The updates aim to improve the functionality and effectiveness of hospitality management before the start of 2025.

📱 Hostaway, a vacation rental software company, secured a $365 million investment led by General Atlantic with PSG Equity's participation. Since its 2015 founding by Marcus Räder, Saber Kordestanchi, and Mikko Nurminen, Hostaway has grown to manage properties in over 90 countries with a 230-employee remote workforce across 44 countries. It offers integrated property and channel management, AI tools, and automation, with over 200 marketplace partners. The investment will fuel further growth, AI development, and international expansion, especially in France, Italy, and Spain. The short-term rental market is a $133 billion GMV sector, growing at a 12% CAGR, with Hostaway positioned as a market leader. William Blair and Cambon Partners were financial advisors for the deal.