Zeus Raises $55 Million for Extended-Stay Rentals: Travel Startup Funding This Week

From left: Chief Technology Officer Joe Wong, Chief Operating Officer Srini Panguluri, and CEO Kulveer Taggar together co-founded Zeus, a corporate hospitality startup that has raised more than $90 million in funding. Zeus Skift Take: This week, travel startups announced more than $139 million in funding for concepts including extended-stay corporate housing, short-term rental-style pop-up … [Read more…]

2C2P Raises $52 Million for Payments Tech: Travel Startup Funding This Week

Aung Kyaw Moe, founder and CEO of 2C2P, poses for a photograph in Bangkok, Thailand, on Thursday, January 2018. 2C2P is a digital payments platform that has just raised a fresh round of funding. Taylor Weidman / Bloomberg Skift Take: This week, travel startups announced more than $101 million in funding for a range of … [Read more…]

Oyo’s Widening Losses and Other Financial Takeaways From Its Latest Filing

An example of an Oyo property. Oyo Rooms disclosed details about its financial performance as the hospitality company continues its breakneck expansion while piling up losses. Oyo Skift Take: Oyo has disclosed a surge in losses in documents related to its $1.5 billion in new funding. The hospitality company claims it will turn profitable three … [Read more…]

Tencent Bets Big on Ctrip-Backed LvYue Hotel Group: Travel Startup Funding This Week

An image of the lobby of the 69-room Vyluk Hotel in Chongqing, China, which is run by LvYue, a hotel group that’s a strategic investment of Trip.com Group and that received a round of investment led by Tencent this week. Vyluk Hotel Skift Take: Is there anything that Trip.com Group (formerly Ctrip) won’t do? LvYue … [Read more…]

Airbnb Vs. Local Regulators Is a Lopsided Battle

An Airbnb guide to San Francisco. Effie Yang / Flickr Skift Take: The cities and municipalities that are trying to contain the likes of growth-hungry startups like Airbnb have a major disadvantage: Their adversaries have fought this fight multiple times before. — Rosie Spinks Slim Leather Travel Passport Wallet Holder RFID Blocking ID Card Case … [Read more…]

Travelio Raises $18 Million for Extended Stay Booking: Travel Startup Funding This Week

Co-founders of Travelio, the alternative accommodations booking site based in Asia, as shown from left, chief operating officer Christie Tjong, chief executive officer Hendry Rusli, and chief strategy officer Christina Suriadjaja. Travelio Skift Take: This week, travel startups Travelio, Refundit, and Nowaday together announced more than $33 million in funding. Of particular note is Amadeus’ … [Read more…]

Comtravo Raises $23 Million for Business Trip Management: Travel Startup Funding This Week

A stand demonstrating Airbnb for Business in Berekley, California, in 2017, and illustrating the concept of business travel. This week, travel startups announced more than $60 million in funding for Comtravo, Tripscool, OStay, Cover Genius, and Verto Education. Airbnb Skift Take: This week, travel startups announced more than $60 million in funding for a business … [Read more…]

SiteMinder Diversifies Away From Helping Hotels Solely on Room Sales

A photo of the Casa Andina Standard Nasca in Nasca, Peru. The hotel chain uses SiteMinder for help with online distribution. SiteMinder has launched an app store to help smaller hotels adopt new tools from other third-party vendors to manage their properties. Casa Andina Standard Nasca Skift Take: Tech provider SiteMinder is the latest firm … [Read more…]

Fountain Raises $23 Million for Hospitality Recruitment: Travel Startup Funding This Week

Shown here is Keith Ryu, CEO and co-founder of Fountain, a hospitality recruitment startup that has raised additional funding. Fountain Skift Take: This week, travel startups announced more than $437 million in funding. Blockchain-based identify management, hospitality worker recruitment, airline distribution, attractions ticketing, and short-term rental property management were some of the hot concepts attracting … [Read more…]

Duffel Joins Wave of Startups Accelerating Efforts to Reinvent Airline Distribution

Passengers at a boarding gate at Frankfurt airport in a photo take in 2017. Lufthansa is one of the airlines distributing airfares via Duffel, a new travel technology distribution service. Duffel, a company that helps airlines sell their tickets, has quietly amassed more venture capital funding than all other next-generation airline distribution startups. Gregor Schlaeger … [Read more…]