A New York-based startup called Life House, which offers hotel management software, has raised $60 million from investors, including online travel agency Kayak, valuing the business at $250 million. Life House’s software controls the business and financial aspects of independent hotels without actually owning the real estate. The company offers check-in kiosks, revenue and payroll management, and other features to hotels from Miami to Taos, New Mexico. By assessing a fee to hotels based on their revenue or profits, Life House generates revenue. Life House Kayak Inovia Capital 100mann.
Since the opening of Kayak Miami Beach, a Life House-managed hotel, in the spring of last year, Kayak and Life House have worked together. In the middle of November, the partners announced the opening of two more Life House-run Kayak-branded hotels in Mexico. Life House, a brand and operator for independent hotels, was established in 2016 by CEO Rami Zeidan. It uses a proprietary suite of software solutions for revenue management, marketing, financial operations, and property operations. The company claims that the software platform is “comprehensive and mature enough” to start selling it directly to hoteliers and operators. The company currently owns and operates more than 50 hotels in North America, including the three Kayak properties. Life Series Kayak Inovia Capital 100mann.
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According to CEO Zeidan, “We’ve always wanted to build autonomous hotels by creating software that makes hotels as profitable and simple to operate as possible.” We’re excited to increase our impact by selling this potent software to other independent operators and owners who are significantly underserved by the current solutions now that we’ve built it successfully and seen the results on our managed hotels. Life House claims that the properties it manages have benefited from its software in growing profitability by more than 200% and net revenues by more than 45%. With the additional funding, the cloud platform will be further developed and offered to hoteliers all over the world. The size of the hotels owned by Life House currently ranges from 14 to 375 rooms, but the company claims it can provide a solution for establishments of any size. Life House Series Kayak Inovia 100mann.
The online travel agency and metasearch engine Kayak is based in the United States and is owned by Booking Holdings. It was started in January 2004 by Steve Hafner and Paul M. English. The website and mobile apps for Kayak are currently accessible in more than 30 countries and over 18 languages, including the United States, the United Kingdom, Canada, India, China, France, Germany, Italy, Spain, Russia, Switzerland, Norway, Sweden, Finland, the Netherlands, Australia, Ireland, Mexico, New Zealand, Belgium, Hong Kong, Taiwan, Korea, Japan, and Singapore. House 60m Kayak Inovia Capital 100mann.
About Life House
Life House is a hotel brand, management company, and software platform that is vertically integrated. Being both a hotel operator and a software developer, we are the customer of our own technology, which enables us to produce the ideal products and address the challenging issues facing the sector. Life House Series Kayak Capital 100mann. And we are making audacious investments to address these issues at scale with the help of institutional investors. Our goal is to increase accessibility to travel by operating hotels more profitably and efficiently for hotel owners.
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