While Airbnb has established itself as one of the first brands to come to mind when talking about short-term vacation rentals, it is hardly the only option out there. And thus, property-owners may be missing out on cross-platform traffic. Finnish startup Hostaway believes that it has the answer, with a platform that will enable users to list properties through multiple services, therefore potentially increasing their bookings and revenue.
The platform that Hostaway created allows users to connect with various services, whether it is Airbnb, Booking.com, Flipkey, Homeaway, Expedia, or others, and manage bookings (up to 6 months in advance) and to chat with potential customers. The service also allows users to edit prices and availability, avoid double-bookings (if a double-booking occurs, the startup says that the monthly fee for the platform is on them), and access premium support (for 2 or more listings).
In order to generate revenue, Hostaway has opted for a monthly-subscription model, taking $15 per month to manage one booking and $30 per month for each additional property.
The company was founded in 2015, but will not actually unveil their platform until this autumn. The startup has not provided an exact user figure, but says that they are currently beta-testing with “hundreds” of users around the world.
In order to fund their operations, Hostaway has picked up 50,000 Euro from Nubacom Group Oy and Hostaway co-founder Mikko Nurminen, another 111,100 Euro from Sontek Oy, and an undisclosed amount from Tekes, the agency of the Finnish government responsible for funding innovation. With that money, the company says that they have attracted the attention of developers and that they are currently focused on launching and scaling-up. Although the service has not yet launched, they have already established themselves as an international company, with offices in Helsinki and Toronto.