Qstay is an avant-garde hospitality cum rental investment property management platform. It has raised $4.6 million in a pre-Series A round of funding. Funds raised by the company now total to $11.1m. The funding was done through a mix of ordinary and convertible debt; an indication of strong investor confidence in Qstay’s innovative approach to the hospitality industry.
PC: AccessWire
Qstay is the revolutionary tech-based platform, founded by two friends Artur Khayrullin and Alec Redelman, changing the hospitality world across the globe. As specified in the next lines, it provides AI-based customer service and digital concierge services, which increase the guest experience manifold while involving their business results in up to 50% Optimization of operation costs.
From a very busy hospitality market place as well, Qstay stands uniquely providing for the comfort of the guest at affordable rates with best services. AI provides the backbone for smooth interactivity and personalized experience, increasingly being sought after by today’s traveler. For property owners, Qstay is a hands-off way of using the asset to generate higher yields on investment. It is these two areas of focus on guest satisfaction and value for the owner that makes Qstay a global player.
“We are very excited about this new funding. It will help us to further accelerate growth and continuously innovate within the hotel industry sector”, said Artur Khayrullin; “The fact that Qstay succeeded to raise funds from such renowned institutions as Prosus and Constant – shows that Qstay has created real value with its tech-centric, design-led hotel-like living concept, and that its economics package is truly attractive for property owners”.
Qstay is the brainchild of a very young company that has gained immense growth since inception. It operates over 300 properties across nine markets in four countries. More than 130,000 nights have been completed on the platform, and it has hosted upwards of 60,000 guests. As a matter of fact, Qstay is going to enter more markets from 2024 to 2026 that would make it take firmer roots in many places across the globe.
As Alec Redelman, co-founder of Qstay, put it: “Such strong endorsement from our investors is a validation of our vision to redefine the guest experience and optimize returns for the property owners. This new funding will be pivotal in enhancing the platform’s capabilities and in expanding the operational reach of Qstay.”
Qstay’s financial outlook is positive. Revenue in 2025 should reach $63m and an 18% margin on EBITDA-very good indeed as an indicator of the potential for both sustained growth and profitability. Its innovative business model-not only helps to increase revenue but makes significant cost savings on the part of the owners-a genuine feature within hospitality markets.
The $4.6 million pre-Series A fundraise is a huge milestone for Qstay. It’s not hard to see how an investment in that company that is committed to advanced technology in hospitality will be valuable in comparison with more traditional models. Qstay has the backing of solid investors and faces huge future in its attempt at rapid growth and revolutionizing big industry.
