BARCELONA – BYHOURS, an online platform that allows users to book hotel rooms in 3, 6, and 12 hours packages at more than 2,500 hotels worldwide, has closed an investment round of three million euros to strengthen its international expansion. This round had participation by international investors with extensive engagement in the Travel and Hospitality Sector.
This investment round was joined by:
- Investiere –Swiss Fund that has invested in HouseTrip and GetYourGuide
- Howzat Partners – Luxemburg-based fund who have holdings in Trivago and Techstars
- Abu Dhabi superangels
- HR Ventures – German investment fund who have also invested in Happycar and Caravelo
- Roland Zeller – Founder of leading Swiss Travel Agency.
2018: Consolidation in Europe, Latin America and the Middle East
This new round allows BYHOURS to strengthen its growth and expansion overseas. Specifically, in 2018 plans to consolidate in the European market, where it operates in more than 600 cities, and maintain constant growth in Latin America, where it is already present in more than 500 hotels in the continent’s main cities. In this coming year, BYHOURS intends to expand its presence in cities close to international airport hubs in the Middle East, such as Doha and Dubai where it already operates.
The company does not rule out incorporating new investors in 2018 to facilitate the start of operations in the United States or Asia.
“We are ambitious about BYHOURS future because we have confirmed it is a successful model, which satisfies our customers and the large market that we are targeting”, said Christian Rodriguez one of the founders of BYHOURS.
Since launching in 2012, the company has raised seven million euros. “Although the Travel and Hospitality Sector is one of the most mature and capital-intensive, we want to continue growing and consolidating our international investment,” Guillermo Gaspart pointed out.
In addition to entering new markets, BYHOURS is focusing on improving the user experience and on technological development. In 2017 the company launched its new mobile app – which is free and available on iOS and Android – that has more than 200,00 users worldwide.
The company, with offices at Pier 01 in Barcelona, recently expanded its international team and has 35 employees in various roles to meet the goals to grow and consolidate.