Hostaway CEO on Future After Raising $365M: European Expansion, More AI
Hostaway recently announced that it has successfully raised $365 million in funding, opening up new horizons for the company to grow. The funding will significantly enhance Hostaway’s ability to expand into the European market and implement more advanced artificial intelligence (AI) technologies to improve its services. This article looks at the key areas where hostaway will be growing in the coming years.
Expansion into the European market
According to the latest data, the short-term rental market in Europe continues to grow, and Hostaway is aiming to establish a strong position there. The company plans to:
- Opening new offices in key European cities, including Paris, Berlin and London.
- Expanding the sales team to better serve new clients.
- Developing localized marketing strategies to attract tenants and landlords.
As experts note, expansion into the European market will allow Hostaway to significantly increase its share of the competitive environment. According to Investopedia, the rental market in Europe is expected to grow by 12% per year by 2025.
Development of artificial intelligence technologies
With the growth of data generated during the rental process, the company needs to actively implement AI to optimize its services. Hostaway plans to:
- Creating AI-based analytical tools to assess the market and determine optimal housing prices.
- Automation of property management processes, which will reduce the time spent on routine tasks.
- Implementation of chatbots to improve customer service in real time.
According to McKinsey, investments in AI are doubling every year, and Hostaway is looking to keep up with this trend to improve customer engagement and improve operational efficiency.
Specific examples and cases
Hostaway has already started implementing new technologies with success. For example, they implemented a project to automate pricing policy, where AI analyzes supply and demand in real time, which allowed them to increase revenue by 15% in some areas.
Another successful example is the use of AI to improve personalized customer service. Future improvements are aimed at predicting customer needs and providing accommodation recommendations before booking.
Conclusion
With significant investment and strategic growth, Hostaway will open up new horizons in the European market. Along with expansion, there will be an active implementation of technologies, which will allow the company to remain competitive and meet the growing needs of its clients in the field of housing rental.
