H2O Hospitality will use the funds to enhance contactless check-in systems. Here are the top-line bullets you need to know.
H2O Hospitality, a hospitality management services provider, has raised $30M in a Series C. The round drew participation from Kakao Investment, InterVest, Kejora Intervest, Korea Development Bank, and Gorilla Private Equity.
HOW’S THE COMPANY PERFORMING?
- Japan-based H2O Hospitality provides technologies that support the automation of online and offline hospitality management processes. The company reportedly helps reduce expenses by 50% and increase sales by 20%.
- It manages 7,500 accommodation facilities — including 50 hotels, ryokans, and guest houses —and it maintains operations across 7 cities, including Tokyo, Seoul, Osaka, Bangkok, and Busan.
- The company’s revenue has grown 30% since pre-pandemic days.
- In 2021, it acquired ImGATE, a contactless hotel management company, and Replace, a local startup, to enhance its technological capabilities in the market.
Source: H2O Hospitality
WHY DOES THE MARKET MATTER?
- The global hotel and hospitality management software market is expected to grow at a CAGR of 5.1% to reach a value of $4.9B by 2027, according to ReportBuyer.
- Tourism levels are back on the rise after dropping amid the pandemic, which has led hotels to adopt new technologies to facilitate smoother operations. This shift is a key contributor to market growth.