ZUZU Hospitality Solutions (ZUZU), the ‘yield management as a service for independent hoteliers’, today announced its regional expansion on the back of completing a S$5M (USD 3.7M) Series A investment round.
The Series A round for ZUZU, based in Singapore, was completed in Q42018. It was led by Wavemaker Partnerswith other existing investors Golden Gate Ventures, Convergence Venture, and Alpha JWC Ventures as well as new investors Access Ventures and Line Ventures.
ZUZU delivers an outsourced yield management solution for independent hotels. It couples a proprietary hotel operating system with a service model delivered by specialist revenue managers to deliver an average uplift of 30% in online revenue.
Co-founder of ZUZU, Dan Lynn added, “ZUZU is now the only complete outsourced yield management solution for independent hotels. Rather than dropping a piece of software on a hotel and expecting them to figure it out for themselves, we provide both the software and the service. We let hoteliers outsource their yield optimisation so they can focus on hospitality and delivering a great experience day to day. We are also the only partner of independent hotels that delivers revenue upside for them, making us true hotel partners for the long term.”
The company was founded in 2016, and had raised a seed round of USD 2M in 2017 to allow it to invest in its product development. With this new round of funding, the company is expanding its operations from its launch markets of Indonesia, Taiwan, and Singapore, to further its Asia Pacific coverage. The company has appointed veterans in the industry, Jake Coleiro as Country Manager for Australia; and Prae Wattanalapa as Country Manager for Thailand.
Globally, there are more than 300,000 independent hoteliers, and less than 1 in 10 use any sort of revenue management software. More than 10,000 of these independent hotels are in Thailand while Malaysia and Australia have 5,000 each.