$3.6 million goes to ByHours in latest financing round
Spanish hotel booker ByHours has announced $3.6 million in funding.
The startup provides a different take on hotel bookings by providing hotel stays in 3-hour increments. The startup is carving up the traditional day booking increments for hotels, which could prove very popular with travelers arriving at various times of the day. For hotels, it provides a way to drive incremental revenue – with an increased need to manage operations to ensure clean and available rooms.
Participants in this round were Labogar, international venture capital firm Axon Partners Group, and the audiovisual group Mediaset Spain.
The company currently has 600 participating hotels in Spain, from brands like Silken, Tryp, Abba, Husa, BestWestern, H10, Sercotel and Vincci,
The financing round will be used to expand the reach of the Barcelona-based company, which currently has 28 employees. The company, which has already recently expanded to London, Paris, Dublin, Berlin and Amsterdam, and will continue to bring its service to Europe at large while also working on other “pay per use” applications.