EDITOR'S COMMENT
• Guesty's $130 million Series F funding round this week will have caught the eye of everyone in the STR industry, not just for the amount raised but for the scale of the company's ambition, even in a challenging economic and investment landscape.
We have already seen the Tel Aviv-based firm flex its muscles in recent years with an aggressive mergers and acquisitions [M&A] growth strategy [StaySense, YieldPlanet, Kigo, HiRUM, MyVR and Your Porter] and sizeable fundraises - the latest round takes Guesty's total funding to date to $410 million. That growth trajectory looks set to continue as Guesty pursues further M&A, plus expansion in the USA, France, Germany, Spain and Australia.
So what has made Guesty stand out in the PMS space and how is it defying the global slowdown in funding in travel and hospitality? The company now has a huge global presence in 80 countries - aided by its acquisitions - and claims to be developing a best-in-class, enterprise-level platform to meet evolving consumer preferences, while the growth in demand for STRs outpaces that of hotels. As CEO Amiad Soto also explains, the company has reported "five-fold growth over the last few years" and is seeking to build "the industry’s first intelligent property management platform, with AI capabilities and best-in-class support".
It is no secret that Guesty is targeting an IPO, although Soto clarifies it will only “progress when the market conditions are right”. Series F funding rounds are typically used for capital-intensive businesses looking to fuel their next stage of growth, and expansion, acquisitions and an IPO are all on the table. Though it is a significant milestone for Guesty, timing an IPO right might just be the hardest task yet - as firms like OYO are currently finding.
• The 2024 Shortyz Awards are right around the corner on Tuesday 23 April and now is your chance to secure your tickets. Get ready for a truly memorable night of celebration and recognition at Skyline London [and the fifth edition of the awards - now coined 'The Oscars of the short-term rental industry'] - secure the hottest tickets in town here.
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