Guesty announced an all-equity round totaling $170 million in capital to continue driving its expansion, as well as invest in tools to address changing consumer habits. "With the ways people live, work, socialize, and travel having shifted, the lines between traditional hotels and rental accommodations continue to blur," said Guesty co-founder and CEO Amiad Soto. "Hospitality operators—everyone from hosts to property managers to hotel brands—are continuing to adapt to this new reality. The last few years brought new customer personas to the short-term rental market, including classic hotel-goers who have higher demands for guest experiences and services." Apax Digital's Dave Evans explained that Guesty is clearing a pathway for next-generation digital hospitality services, with market consolidation its key goal. "We expect our revenue and listings under management to continue to double year-over-year, both in 2022 and 2023," Soto said. He elaborated that the company's migration from disclosing property numbers is not due to pandemic disruption, but because of Guesty's evolving business model, broadening both the kinds of properties that are managed and their uses. "In a largely specialized and localized industry, there is a huge opportunity to bring a global standard of service and excellence to hospitality operators of all shapes and sizes," said Dan Bitar at MSD Growth. "Guesty's robust product offerings, strong R&D team, and proven ability to scale the business across geographies make it the ideal platform to consolidate the currently fragmented market."
TechCrunch (08/16/22) Ingrid Lunden