GuestReady Achieves Crowdfunding Target of 1.5 Million Euros Within 24 Hours

Around the world: Short-term rental management company GuestReady has announced its recent crowdfunding campaign on the leading European platform Seedrs has reached 100% of its target within the first 24 hours since launch, with over 250 investors from 25 countries contributing to the € 1.5 million target.

Existing investors Impulse VC and Senn & Partners continue to support the company and participate in the campaign, reflecting the restoration of investor confidence in the market segment. The campaign is now overfunded and is expected to remain open until the end of this month, after launching on November 2.

The announcement comes against the backdrop of the Covid-19 pandemic, which saw GuestReady’s revenue drop 80% from January to April. Since then, the startup has been on the road to recovery, with revenues returning to pre-Covid levels in August 2020.

The path appears to mirror that of Airbnb, which faced thousands of cancellations earlier this year and is now expected to lift a $ 30 billion IPO slated before the end of this year.

Alexander Limpert, CEO and co-founder of GuestReady, said: “The short-term rental market is not as deeply impacted as some might think by the Covid-19 crisis. The impact on different segments of the hospitality and tourism industry varies widely.

“Foreigners think our fate is the same as that of airlines or hotels, which have seen their revenues drop by more than 90%. Fortunately, we have seen an increase in demand from domestic travelers and longer stays, which has helped cover a large portion of lost bookings from international travelers.

“This has allowed GuestReady to maintain a much higher occupancy rate than hotels,” he added.

Occupancy in September

A comparison of GuestReady’s occupancy data for September with hotel occupancy data from STR, a leading hotel data provider, showed that the startup’s occupancy was almost double the average occupancy. hotels in key markets such as Dubai, Paris, Lisbon or London. In addition to occupancy, the company has seen its average length of stay increase by 50% as customers book for longer periods.

Guest Ready
Occupancy in September 2020

Jacques Lavie, Head of Growth at GuestReady, said: “Right now, short term rentals offer key advantages over hotels. Our properties are better insulated and do not contain common areas, such as a lobby, which would generally be a benefit for a hotel.

“All of our properties have super fast Wi-Fi, which is even more important now as more and more clients are working from home. Our customers also appreciate having their own kitchen where they can cook for themselves, rather than being dependent on going to restaurants, ”he added.

GuestReady Group provides professional services to real estate investors, owners and Airbnb hosts in UK, France, Portugal and UAE, and offers services such as listing creation, client communication, housekeeping, key management and price optimization. The company has already sold more than 1,200,000 overnight stays, generating rental income of more than 50 million euros and manages more than 2,500 properties, a portfolio worth more than one billion euros.

The startup too won the 2018 Serviced Apartment Award as Best service provider and Limpert was crowned a Rising Star at the inaugural Shortyz Awards for the global short-term rental industry in March 2020.

For more information on GuestReady’s crowdfunding campaign, follow this connect.

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