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OTA Insight, which provides business intelligence to the hospitality industry for revenue optimization, has announced a $20 million funding round. The funding for the London-based company was led by Eight Roads Ventures and F-Prime Capital Partners. Currently, OTA Insight works with 16,000 properties across 134 countries. With this additional round of funding, the firm is aiming to double that number over the next several years, although Engel declined to specify an exact timeframe. However, he did point out that all parties are expecting the company’s current growth trajectory to transform from hyper-rapid client acquisition to a more sustainable model; the company launched in 2013 with 30 properties, shot up to 500 in 2014 and then again to nearly 2,000 in 2015. Targets are clients at both ends of the spectrum, with a heavy focus on hotels that already have sophisticated revenue and distribution management system in place as well as properties of 20 to 30 keys that can’t afford a revenue manager. The expansion plan also extends to new markets; the new round of financing will also lend itself to OTA Insight moving next into Asia Pacific. But such ambitious development will also require bolstering staff levels and already, the company is looking to add to its business development and marketing staff in addition to further building up the engineer team at its data hub in Ghent. Read original article |
