Guesty raised $130 million in a Series F funding round to expand the capabilities and global footprint of its property management software platform for the short-term rental (STR) and hospitality industry.
The funding round comes as the growth in demand for STRs has been outpacing that for hotels since 2022, the company said in a Wednesday (April 10) press release.
“The surge in those seeking short-term rentals continues, and our platform remains at the vanguard of the industry,” Guesty Co-founder and CEO Amiad Soto said in the release. “As we embark on creating the industry’s first intelligent property management platform, we’ll continue to develop its functionality and AI capabilities to deliver first-to-market features and best-in-class support for our customers.”
Guesty operates in 80 countries and serves a variety of STR hosts, including enterprises, small- to medium-sized businesses (SMBs) and individuals, according to the release. Its platform helps these hosts advertise their properties and manage the entire rental process.
With the new funding, the company plans to broaden its platform’s capabilities to accommodate medium-term rentals, corporate housing and fully-serviced stays, the release said.
It also intends to continue its global expansion, specifically across the United States, France, Germany, Spain and Australia, per the release.
Guesty’s latest funding round was led by KKR, with Inovia Capital joining the round and existing investors Apax Funds, BDT & MSD Partners and Sixth Street extending their support, according to the release.
In another development in the space, Airbnb said in February that it added new features to its City Portal, which provides local governments and tourist organizations with insights into tourism trends in their communities.
The new additions include tools that help users connect with their local Airbnb Host community and request a Responsible Hosting Page for easy compliance with local STR laws.
In January, vacation rental hospitality company Evolve said it partnered with payment network Affirm to provide pay-over-time options to travelers.
Affirm is the exclusive pay-over-time partner of Evolve, which has more than 30,000 properties in 750 markets.