Journey Hospitality on Course for Exponential Growth With Growth Capital Funding from Averroes Capital

Hospitality Technology Business Raises £5m Growth Capital Funding to Revolutionize Hospitality Ecommerce

United Kingdom, Cheltenham, Gloucestershire. November 07, 2022

Hotel technology business Journey Hospitality has secured £5 million growth capital investment. The funds, from private equity firm Averroes Capital, will enable Journey to deliver its vision to revolutionise ecommerce for the hospitality industry.

This is the first growth funding raise for the organically-grown company since it was established in 2010. Following the successful launch of onejourney ® - an all-in-one ecommerce platform for hotels - Journey will use the funding to advance product development and achieve market expansion.

Journey Hospitality has over 400 luxury hotel property customers worldwide. In the past year, its annual software revenue has grown by 151%, with revenue forecast set to grow rapidly in the next 12 months.

The investment will support the development and scaling up of its technology platform worldwide, and be used to enhance Journey's team - including the bolstering of senior level executives alongside product development, sales and operations as the headcount increases to more than 100 staff in the short term.

Journey's founder and CEO, Simon Bullingham, said: "The investment will help us achieve long-term growth and shake up the industry with technology that addresses key ecommerce challenges within hotels. We have worked alongside luxury hotels for over a decade and pride ourselves in truly understanding their business. Our latest platform, onejourney® - the world's first unified ecommerce platform for hotels - addresses a key pain point for hoteliers and maximises property profitability."

Simon Rowan, Partner of Averroes Capital, said: "Journey Hospitality has achieved impressive results with its existing technology, and is held in high esteem by luxury hoteliers. Our team has deep experience in unlocking business potential and achieving commercial growth, particularly with B2B software companies. We're looking forward to using our expertise to help grow Journey Hospitality, supporting Simon and his team as they deliver significant value to the hotel industry with their technology platforms."

In the last year, Journey Hospitality launched its revolutionary ‘Shopify for hotels' onejourney® platform, which aggregates all of a hotel's products and services into live bookable inventory, enabling hotel guests to book multiple products seamlessly online in one basket. Already deployed across 102 leading luxury hotel and resort websites, there are a further 37 properties due for onboarding this year. Clients have experienced a 25% reduction in inbound calls and doubled conversion rates, with 30% of their online orders featuring multiple products.

Since 2010, Journey Hospitality has been building ecommerce web experiences for luxury hotels to support guest acquisition through digital marketing and drive online conversion and booking transactions. The product offering also includes the Gifted platform - the UK's leading gift voucher platform used by hundreds of luxury hotels and resorts including Claridge's, Beaverbrook, The Landmark London and Chewton Glen.


Journey Hospitality team
/ SLIDES
Tags: ecommerce, funding, retail, luxury, digital marketing, website, bookings

About Journey Hospitality

Business Contact:

Ryan Haynes
CEO
Haynes MarComs
T: +44 791-951-0051
E: [email protected]
W: http://www.haynesmarcoms.agency

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in December 2022...

Hotel Law: Legal Consequences

The pandemic provoked more than a global health crisis. It also disrupted world economies, financial markets and social systems on a massive scale. Naturally, there are legal consequences associated with this kind of severe business disruption and the issues will be litigated for years to come. In the hotel industry, there are several issues that are currently germane. One issue pertains to the legal obligations hotels have to re-hire employees who were laid off due to the pandemic. Lawsuits have been filed by former employees who claim that certain promises were made to them when they were furloughed, and they are suing hotels for breach of implied contract. Another major issue involves hotels suing their insurance companies for failing to cover their business losses due to the pandemic. Still other hotels have brought lawsuits against local governments for the strict restrictions that were placed on their businesses, chiefly restaurants and bars. These are just a few of the legal issues that will be addressed in the December issue of the Hotel Business Review.