A Gloucestershire tech business has secured £5m to develop software it says can “revolutionise” the hospitality industry.
Cheltenham-based Journey Hospitality has created an e-commerce platform specialised for hotels, called ‘onejourney’.
Described by the company as the ‘Shopify for hotels’, ‘onejourney’ is designed to allow hotels to advertise all of their products and services on an online inventory where guests can make multiple purchases in a single transaction.
Journey said since its launch the tech has been used by more than 100 hotels, with almost 40 more to be onboarded this year.
The firm said it had more than 400 luxury hotel property customers worldwide and in the past year its annual software revenue had grown by 150% - with revenue forecast set to grow “rapidly” in the next 12 months.
The funding boost from private equity firm Averroes Capital will be used to scale the platform worldwide, with Journey also set to bolster its headcount to more than 100 staff.
Chief executive 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, added: “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.”
Journey said that its clients had experienced a 25% reduction in inbound calls and doubled conversion rates, with 30% of their online orders featuring multiple products.
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