TravelTech startup Hotiday completes a €500K pre-seed investment round
The round was led by Bonsai Ventures, B4i – Bocconi for Innovation, Moonstone, and Investinit.
The liquidity injection will allow the travel tech startup to accelerate the growth process through investments in technology and team expansion, positioning itself as a reference point for the industry
Hotiday, an instant buyer of hotel rooms that purchases unsold rooms from tourist facilities in various locations and resells them online as a decentralized hotel chain, announces the completion of a €500K pre-seed investment round.
The lead investor is Bonsai Ventures, a holding company that invests in high-growth potential startups. It is composed of an operational team of former founders and finance experts.
The fundraising process also involved the participation of B4i – Bocconi for innovation, Moonstone, Investinit, and additionally INSQUARED Holding, AFP Capital, Ventive, and some business angels, including Libero Raspa, a former Booking Holdings executive.
These new funds will allow Hotiday to accelerate its expansion program further and develop its proprietary technologies. Hotiday will further enhance its algorithm for acquiring rooms at the right price and aims to expand its presence throughout Italy.
Since its establishment in March 2022, Hotiday has grown rapidly, providing its service to multiple facilities in Italy to achieve a turnover of over €1 million by 2023. Furthermore, it has recently completed the prestigious acceleration program by B4i – Bocconi for innovation, which supports innovative activities in the startup phase.
Hotiday, the data-driven startup that digitizes hospitality.
Hotiday was born from an idea by Vittorio Gargiulo (CEO), Federico Di Carlo (Chairman & CCO), and Federico Brunelli (CFO) all with experience in the hospitality industry.
An innovative and precise vision: thanks to the instant buying logic, create the first scalable and data-driven hotel chain with partner hotels in all major tourist destinations. Hotiday uses a proprietary algorithm to acquire hotel rooms quickly and at the right price.
The idea stems from the fact that, on average, 30% of hotel rooms in Italy still need to be sold. Hence the need to simplify the sales process with guaranteed room payment and a consequent reduction in management risk.
How It Works
The procurement process is straightforward. Hotiday acquires unsold hotel rooms, specifically those that are rarely occupied during the opening period. The purchased rooms are paid for in advance, giving the establishment the certainty of having already sold those rooms for the entire tourist season. These rooms are then resold online under the proprietary “Hotiday Hotels” brand as part of a digital hotel chain.
Travellers also receive cashback on every booking to be used at all participating establishments in the network, along with standard digital services that simplify the travel experience, such as online check-in and a digital concierge.
Through an application, guests can book activities and restaurants in the area with discounts and exclusive offers. The primary destinations served are Sardinia, the Amalfi Coast, Taormina, the Riviera di Ponente, Salento, and the Fiuggi thermal complex.
In 2023, Hotiday will invest further in technology to enhance the algorithm and online platform, pursue new acquisitions, and ultimately expand the team by hiring key positions such as a product manager and a sales account.
This pre-seed round represents an important opportunity for us to accelerate the growth and development of our service and technology.
concludes Vittorio Gargiulo, CEO and co-founder.
We are proud to have renowned investors such as Bonsai Ventures, B4i – Bocconi for innovation, Moonstone, and Investinit on board, who will provide us with strategic support.
The infusion of new resources will enable us to grow rapidly in the medium to long term, positioning ourselves as one of the pioneers in the digitalization of the hospitality industry, Italian excellence in the world.
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