The Hotels Network secures 10M€ in series B funding to help hotels worldwide grow their direct booking channel
15 junio 2020
The Hotels Network (THN), a full-stack direct growth platform for hospitality, announces it has closed 10€ million in Series B funding. The round is led by Elaia, with current investor Seaya Ventures also participating.
In order to survive and thrive in today’s challenging environment, hotel brands will have to develop a strong online brand channel. Doubling down on their commitment to the hospitality industry, THN will use these funds to build the products hotels need to achieve this within the new context.
Since launching in 2015, THN has become the leader in a new hotel tech category, direct channel growth for hotels. Pioneer of Predictive Personalization in hospitality, THN enables hotels to offer guests a truly customized online journey by leveraging personalization and machine learning techniques. The resulting increase in conversion rates and revenue per customer not only reduces acquisition costs but also helps hotel brands regain that all-important direct relationship with guests.
Juanjo Rodriguez, CEO at THN, explains, “Usage of our product by our clients increased 120%during the first weeks of the crisis, which indicates just how essential it is, especially now. Hoteliers are using our solutions to personalize the end-to-end online experience and communicate with guests when it matters most. It’s about reassuring travelers while rekindling their imagination, right from the first moment they start dreaming about a trip again.”
Pauline Roux, Partner at Elaia, will join THN’s board of directors. She comments, “Predictive Personalization enables hotel website users to enjoy a better booking experience and hotels to fuel their direct booking growth. Hoteliers are now able to get closer to their customers, which is the essence of the industry. This opportunity, together with the company’s success to date, make us believe that THN will become a major global player in the hotel tech industry, which is the driving factor for us to invest. We look forward to being part of this next stage of global scale-up.”
Already more than 5,000 hotels in 96 countries use the THN platform to grow their direct bookings. This rapid expansion demonstrates the effectiveness of having an innovative product that really brings value to customers. Clients of THN include leading hospitality brands such as One&Only, Minor Hotels and Barceló Hotel Group.
“The company has achieved a series of impressive milestones and is clearly providing a response to a currently unanswered need from hoteliers around the world.” says Antonio Giménez de Córdoba, Partner at Seaya Ventures. “We are proud to keep partnering with such an ambitious project.”
Juanjo Rodriguez concludes, “With this additional funding, we will continue to support the recovery of our industry by building powerful, new technology for our hotel clients, not just a better version of existing solutions.”