• HotelTonight

  Participated · Series E · Mar 2017

  HotelTonight operates a last-minute hotel booking platform that connects users with unbooked rooms from over 25,000 hotel partners across 1,700 cities in more than 30 countries. The app has shifted its model to accommodate bookings up to a week ahead and expanded features such as location-based pricing, a refreshed loyalty program, and an in-app message-based concierge service. It has pursued strategic partnerships to grow users and is actively hiring as it expands its global footprint. Financially, the company reached profitability in April 2016 after a period of cost cutting and reduced marketing spend. HotelTonight reported more than $300M in gross booking volume and recorded over 100% year-over-year revenue growth. Management has indicated an IPO could be the next path for the business. HotelTonight operates a mobile-focused platform for last-minute hotel bookings. The company has been downloaded more than 9 million times and works with roughly 10,000 hotels across 250 destinations. Management says shrinking booking windows and increasing mobile usage position the business well for future growth. To expand coverage outside major cities and improve the hotel experience, HotelTonight has struck agreements with several large chains, including InterContinental Hotels Group, Hyatt, Best Western, Kimpton, FRHI, La Quinta, Barcelo, and Steigenberger. Barry Sternlicht has made a personal investment and joined HotelTonight as a strategic adviser to help secure broader deals with chains. The company previously raised a $45 million funding round last summer. HotelTonight operates a curated mobile platform for booking same‑day hotel rooms. The company has focused on a high‑quality, curated app experience and is investing in product and platform development. Since its Series C in June of the prior year, downloads doubled to more than 6.5 million, it expanded to nearly 120 locations across 12 countries, and headcount doubled to more than 100 employees. Management is prioritizing geographic expansion with a stated goal of achieving “geographic ubiquity” so users can find rooms anywhere, from international destinations to small U.S. towns. The company acknowledged increasing competition as it expands globally and said bringing on GGV should help with Asia expansion. Financially, HotelTonight has raised a total of $80.35 million to date following the new round. HotelTonight operates free-to-download iPhone, iPad, and Android apps that let users find low-priced, last-minute hotel accommodations on the fly. The service helps hotels sell unsold inventory and covers more than 40 cities in the U.S. Its apps have been downloaded 2 million times to date. The startup is growing quickly and says it will use the funding to expand its team as it moves beyond its home U.S. market. In April, HotelTonight added accommodations in its first two international cities, Toronto and Vancouver, and it plans to add more Canadian cities later this year. Financially, the company has raised a total of just under $36 million to date. HotelTonight offers Android and iOS apps that provide steep discounts on same-day hotel rooms, focused on last-minute bookings. Launched in January of this year, the service is available in 28 cities and has seen 1 million downloads. The startup plans to expand to 35 markets by year-end, naming Orange County, Portland, Salt Lake City and Santa Barbara as upcoming markets. It intends to use the new funding to expand to new mobile platforms, accelerate customer acquisition and enter new international markets. The company raised $9 million in new funding, bringing total funding to $13 million. Accel Partners will take a board seat and Path founder Dave Morin will join as an advisor.

No current team members are available.