Barcelona-based startup that lets you book hotels only for as long as stay secures €8M funding

BYHOURS is one of the leading startups in the tourism sector in Spain and globally. It has brought an innovative microstay hotel booking concept that provides flexibility and additional income. BYHOURS is the first and only platform providing microstay bookings in packs of three, six, and 12 hours in over 3,000 hotels across the world. It lets users choose their check-in and check-out time.

Founded by Christian Rodríguez and Guillermo Gaspart in 2012, BYHOURS already has over 250,000 users and has sold over one million hotel hours. It has generated over 20 million euros in terms of turnover from this industry.

Bags new international funding

In a recent development, BYHOURS has closed an international funding of €8 million. The new international investors that have taken part in this funding round include Angel Ventures and DILA Capital from Mexico and Howzat Partners.

“Our goal for 2020 is, in addition to continuing to grow in our current markets and to start operations in the United States, to be able to develop the B2B market and improve our connectivity with other players in the tourism sector,” said Guillermo Gaspart, CEO and founder of BYHOURS.

Focuses on international expansion

With this new investment, BYHOURS aims to consolidate its presence in Europe, Latin America and flight connection points in the Middle East as well as to start operations in the United States. In the intention to grow globally, the Barcelona-based startup opened a new office in Mexico to centralise operations and projects in Latin America. Also, it is attracting hotels in the US to develop its business. As of now, users can book in more than 20 countries and 600 destinations with this hotel booking platform.

What holds for future?

BYHOURS’ sales from international markets accounted to 52% of its overall sales by the end of 2019. This year, the company expects to increase its turnover by over 150% by adding over 2,000 hotels to its portfolio. It is also expecting to earn 75% of its revenue from international hotel bookings.

Main image picture credits: BYHOURS

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