FORMER BOOKING.COM CEO INVESTS IN HOLIDU AS VACATION RENTAL COMPANY TURNS PROFITABLE

Source: www.businessleader.co.uk

Holidu, one of the fastest-growing travel tech companies worldwide, has today announced that former Booking.com CEO Kees Koolen has invested more than £3.6m into the company from his personal fund as part of a £4m extension to the £35m Series C round of the previous year.

The funding follows a period of accelerated growth for Holidu in spite of the general turbulence in the travel market due to the COVID-19 pandemic. The company turned profitable in May and since then generated seven-digit positive EBIT figures.

In July alone, more than 27 million users visited the Holidu website, resulting in a 2.6x growth in year-on-year bookings and more than £115m of newly generated bookings that month.

Founded by brothers Johannes and Michael Siebers in 2014, Holidu’s mission is to make the search and booking of vacation rentals easy via its two synergistic business models in the space. On the one side, Holidu operates a search engine for vacation rentals. This enables travelers to find and book their ideal accommodation for the lowest price by giving them access to all of the rentals listed by Holidu’s 1,000+ partners worldwide. On the other side, the company’s subsidiary Bookiply provides a software and service offering to vacation rental owners. This enables owners to increase their bookings with less work by distributing properties to the largest travel websites, synchronizing calendars, and creating multilingual descriptions and professional photos.

“People had been locked in their apartments due to COVID-19 for a long time and we saw that once it was allowed again, people just wanted to travel. Many of them looked for safer nearby travel options, for which vacation rentals are ideal. We have focused on this segment of the travel market since our foundation and it makes us beyond happy that we have been able to help millions of travelers to have a great summer vacation this year.” said Johannes Siebers, Co-founder and CEO at Holidu.

“At one point, we almost got overwhelmed by the large demand. Fortunately, we were able to react quickly thanks to the strong work of our team and the internal technology tools.”

Koolen said: “The COVID-19 pandemic is reshuffling the cards in the travel industry and Holidu is clearly one of the winners of the accelerated trend towards alternative accommodation. Over the five years, I’ve been working with Holidu, my confidence in the team has only grown. On top of that, the entire company is centered around data and technology in a way that is unmatched in the industry.”

Michael Siebers, Co-founder and CTO at Holidu adds: “We’re thrilled to have Kees’s investment and his continued advice and support as board member. The funding will help us to seize the many opportunities for growth ahead and we want to be prepared for any future scenario.”

Source: https://www.businessleader.co.uk/former-booking-com-ceo-invests-in-holidu-as-vacation-rental-company-turns-profitable/98763/