China's largest capsule hotel chain SCH gets Series A financing
SIMPLE Capsule Hotel has won a joint investment from Shanshan Ventures and PIF in its Series A financing round.
SIMPLE Capsule Hotel (SCH) has won a joint investment from Shanshan Ventures and PIF in its Series A financing round. The funds from this round will mainly be used for SCH’s recruitment and to develop mobile online community direct marketing.
Invented in Japan, capsule hotels have built a devoted following over its 40-year history and now there are over 6,000 capsule hotels operating mainly in Japan. SCH is the biggest capsule hotel chain brand in China. It has adapted the Japanese hotel model to a highly practical capsule apartment model which has caught on with the youth market by touting itself as a hip, low carbon eco-friendly and economical alternative. It also claims to be the most suitable service for young conscientious independent travelers and jobseekers.
SCH has 92 apartment hotels with around 6,000 pods and has accumulated over one million users as of the end of 2014.
SCH is focusing on high-speed growth in the capsule hotel market in China and has built its operational model on mobile online and international youth communities. SCH has ambitions to spread capsule hotels around the world by forming a global youth OTO community. This future global OTO capsule hotel community will be a one-stop online solution with millions of users for socialization, accommodation, ecommerce, shipping, culture and music.(Translation by David)