Innovation

📱 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.

🎉 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.

📌 Hostaway, a vacation rental software and management system, has received a $365 million investment led by General Atlantic with PSG Equity also participating. Founded in 2015, Hostaway operates in over 90 countries with a fully remote team of over 230 employees from 44 countries. The company has partnerships with top travel agencies including Airbnb, VRBO, Booking.com, and has recently launched Dynamic Pricing, Hostaway Capital, Hostaway Insurance, and Smart Lock integrations. The short-term rental market is valued at $133 billion and has grown at 12% CAGR over the last decade. Hostaway plans to use the funds for international expansion, product development, and AI initiatives.

📌 Hostaway, a vacation rental software provider, has landed a $365 million strategic growth investment led by General Atlantic with PSG Equity participating. The company, founded in 2015, boasts over 200 marketplace partners, clients in 90+ countries, and a remote workforce of 230+ employees across 44 countries. The investment will support international expansion, product development, and AI initiatives. Hostaway has tripled in growth since PSG Equity's backing in 2023 and plans to expand in markets like France, Spain, and Italy. The short-term rental sector is valued at $133 billion, with a 12% CAGR over the last decade. General Atlantic and PSG Equity will become significant minority shareholders post-deal, marking the largest transaction in Hostaway's market segment.

📈 Hostaway, a vacation rental software company, secured a $365 million investment led by General Atlantic with PSG Equity participation. Founded in 2015, it supports properties in over 90 countries and employs over 230 people across 44 countries. Hostaway is the first company to earn the highest partnership designations from Airbnb, VRBO, and Booking.com, and aims to grow further, especially in France, Spain, and Italy. The short-term rental market is valued at $133 billion and growing at a 12% CAGR, serving over 21 million properties globally.