Led · Seed · Dec 2017

Founded in 2016, London-based Pace provides a dynamic pricing platform that plugs directly into a hotel’s property-management system and begins automated room pricing after analyzing historical sales and inventory data for about 24 hours. The software lets managers action hundreds of real-time price changes through a single dashboard and automatically pushes updates to channels such as Booking.com, Expedia and the hotel’s front desk. Pace targets small and boutique hotels, where pricing is still largely manual despite an estimated 20-30 % revenue loss from suboptimal rates and a $100 billion industrywide cost from unsold inventory. The company positions its product as “surge pricing for hotels,” aiming to help properties instantly react to shifts in demand and price elasticity. Fewer than 10 % of hotels currently use automated pricing tools, giving Pace a sizeable addressable market. With fresh capital, the startup plans to scale its technology and marketing teams to accelerate product development and customer acquisition.