London-based GuestReady is expanding its portfolio of European short-term rentals through deals with providers in Portugal and France.
GuestReady - one of PhocusWire’s Hot 25 Startups for 2019 - has acquired Oporto City Flats, a short-term rental operator in Porto, and it will take over management of We Stay in Paris, a French property manager.
The deals add 100 new homes to GuestReady’s portfolio, growing it to more than 1,000 properties in the United Kingdom, France, Portugal, United Arab Emirates, Malaysia and Hong Kong.
Airbnb and similar companies such as Booking.com and Homeaway are increasingly using short-term rental management companies like GuestReady to take care of their properties. GuestReady uses technology to streamline and automate processes in short-term lettings for guests and hosts. The startup offers hosts 24/7 support for guest communication, personalised welcomes, concierge services during guest stays, hotel quality linen and towels, and other amenities. This high level of service increases the chance for positive reviews and secures the long-term success of properties.
"We built a strong business over the last years but reached a level where technology became the limiting factor to scale further,” says Miguel Martins dos Santos, co-founder and general manager of Oporto City Flats.
Launched in 2016, GuestReady has raised a total of $3.7 million from angel investors and seed stage funds in two rounds. The company is currently in talks of expanding operations to other markets.
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