Traveltech start-up Hotiday announces a €5.5 million capital raise, which is over £4.6 million.
The funding round, led by P101 SGR, a leading Italian venture capital player with an international focus, saw the participation of 40Jemz as well as both Italian and international business angels.
This raise sees the firm able to further expand its portfolio of European destinations, enter new markets and strengthen its presence in existing ones.
It also hopes to enhance the range of services offered to hoteliers, establish new partnerships with premium tourist accommodations, and grow the team with the money.
The Italian start-up founded in 2022, came from an idea of Vittorio Gargiulo, Federico Brunelli and Federico Di Carlo had and was developed thanks to the B4i – Bocconi for Innovation acceleration programme.
Since then the team has grown exponentially with a 500% revenue growth compared to 2023 and debuted its first international Room Collection in Paris.
Hotiday Room Collections are rooms that Hotiday locates within selected hotels partly through a proprietary algorithm.
It then enriches guest’s experience with additional services while enabling facilities to optimise room usage strategically.
This model gives rise to the world’s first decentralised hotel, a diffuse hotel housed in dedicated areas within partner facilities.
Today, Hotiday partners with more than 65 hospitality businesses, including leading hotel groups such as TH Resorts, and operates across over 90 destinations in Europe, including Italy, Spain, France, Greece, and Portugal.
Hotiday not only solves the problem of unsold inventory but it also becomes a strategic partner, providing concrete tools such as RMS and data anlytics.
“We are building something that is unprecedented in the hospitality industry. In a market that is still strongly tied to traditional logics, we have introduced a clear, yet innovative vision that gives value to the hoteliers we work with and offers a better experience for travellers: digital, fluid, and thoughtless,” said Vittorio Gargiulo, CEO and co-founder of Hotiday.
“Our achievements and this new funding give us confirmation that we are on the right track and push us to think even bigger. Hotiday is not just a startup, it is a story of innovation and passion, and we are just at the beginning.”
With this new deal, P101 SGR finalises the twelfth investment made through Programma 103, a fund also supported by the European Union through the InvestEU Fund and CDP Venture Capital SGR via Digital Transition Fund – PNRR, which makes use of EU resources through NextGeneration EU initiative to foster SMEs’ digital transition.
Stefano Guidotti, partner at P101, who led the investment transaction in Hotiday, said: “We are excited to support Hotiday in this new phase of growth.
“The company has successfully brought innovation to a traditional industry like hospitality, identifying a clear market need and responding with an effective tech-driven solution.
“With over a decade of experience in traveltech and a strong network, P101 will actively contribute to Hotiday’s further development.
“Thanks to a highly skilled team and a sophisticated proprietary technology, and with our ongoing support, we are confident that the company will quickly unlock its full potential not only in Italy, but also on an international scale.”
