ByHours CEO and Co-Founder Guillermo Gaspart
Barcelona-based microstay booking platform ByHours has secured an undisclosed sum in strategic investment from Singapore-based Velocity Ventures for Asia expansion.
Guillermo Gaspart and Christian Rodriguez founded ByHours to challenge and transform traditional booking systems in the hotel industry. The company provides a global platform for users to book short stays in over 4,000 partner hotels, with durations of 3, 6, and 12 hours.
It offers a flexible ‘pay-per-use’ model with a 24-hour check-in option. This model accommodates travellers who only pay for the required hours, making it suitable for those seeking a brief rest or experiencing a short layover without an overnight stay.
ByHours has established microstay partnerships in 25 countries, collaborating with independent 3, 4, and 5-star hotels, including Hyatt, Sheraton, Crowne Plaza, Best Western, Accor Hotels, and NH Hotels.
“ByHours will prioritise collaboration with travel agencies, corporations, and online travel agencies and establish symbiotic relationships as a bed bank for microstays. By extending our channel distribution with B2B partners that want to cross-sell micro stays with their own offerings, we can optimise revenue for our hotel partners,” said Gaspart.
The startup claims to have over 300,000 users and sold more than one million hotel hours, resulting in a turnover of over 20 million euros (US$2.183 million) for the hotel industry.
The company employs 30 people across its Spanish and Mexican offices.
The firm previously raised 12 million euros (US$1.309 million) from angels, DILA Capital, and Howzat Partners.
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Image credit: BYHOURS
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