Acomodeo, a marketplace for serviced apartments, has received a mid-seven-digit investment volume for global expansion.
As a first step, three international offices will be opened to expand business in India, South-east Asia and the US. The new offices in Mumbai, Singapore and on the American west coast will initially start with procurement. In a second step, the internationalisation of sales and the expansion of global market leadership will be initiated.
Currently, about 170,000 professionally managed serviced apartments in more than 100 countries can be booked online via the marketplace. Acomodeoâ€™s software ecosystem now covers five solutions along the value chain between apartment operators and corporate customers.
The goal is to aggregate 50 per cent of global supply by the end of 2018, and 90 per cent by 2020.
To achieve this goal, Acomodeo developed the “Acomodeo AMS” (Apartment Management System), an administration software for apartment operators. With the AMS, serviced apartments cannot just be offered online for short stay, but for several months or even years. The system replaces the traditional manual booking processes which is still predominant in the market of long-stay accommodation.
â€œBy digitising supply and bundling demand, we were able to reduce our customers’ overnight accommodation costs in the long-term segment by up to 35 per cent in 2017,” explained Eric-Jan Krausch, CEO and co-founder of Acomodeo.
In 2016, Acomodeo had already received 2.5 million euros (US$3.1 million) in financing for developing of the first marketplace for serviced apartments.