By Carlos Vázquez, Investment Manager at Ad4Ventures Spain (Mediaset Group).
Ad4Ventures is the venture capital arm of Mediaset Group (leading free to air television broadcaster in Spain and Italy), focused on television media for equity deals. Ad4ventures has become the largest media for equity player in Southern Europe.
What is it?
ByHours.com is an online hotel micro-stays booking platformwhich enables flexibility to both hotels, enabling them to monetize and optimize vacant rooms between long stays, and customers, by solving the need of shorter stays at hotels (3h, 6h and 12h) at a lower price.
ByHours is present in 3 continents (throughout 32 countries) increasing revenues for 2.165 hotels.
· User engagement: cohorts analysis showed an incredible repetition profile, making units economics attractive.
· Scalability: innovative solution with almost no competition at the time, with the ability to quickly attract and implement in hotels worldwide.
· TV fit: need to push for “Discovery” (no one searches for innovative solutions they do not know exist) and trust. Online acquisition in hotel sector has become too expensive. High purchase repetition allows the company offline efforts.
· And of course, the TEAM, creative, enthusiastic, never give up, amazing!