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GuruHotel has announced a US$2.1 million round from Anthemis Group, Magic Fund, 500 Startups, Shruti Challa and others. With this new investment, the company seeks to position itself in the tourism and hotel reservations industry.
This startup, created by Josué Gio and Stiven Martinez, seeks to increase the number of hotel reservations without excessive fees for these establishments. Unlike providers such as Booking.com and Expedia.com (which account for almost 80% of online reservations and charge fees between 15% and 40%); GuruHotel promises to charge only 5% of each reservation.
Being a Software as a Service (SaaS) company, GuruHotel also focuses on conversions to get hotels to generate 30% more revenue.
The company launched in Mexico in July 2019. They graduated from Y Combinator, and were able to raise a US$550,000 pre seed round to support them during the pandemic. This global health emergency had a heavy hit on the hospitality sector due to the strict lockdown policies adopted worldwide for several months.
However, despite being close to closing operations, this new investment and the evolution of the pandemic has managed to stabilize GuruHotel. The reactivation of the hospitality industry is a great opportunity for this company. Moody’s Investors Service said in a report that this recovery could last until 2024, and the business outlook remains strong.
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