Hostaway Raises $365 Million in Record Breaking Funding Round

Another year, another massive milestone for Hostaway. We are very excited to announce that we’ve successfully raised a record breaking $365 million investment. 

This new funding round, led by General Atlantic with participation from our existing investor PSG, highlights the incredible growth and success our organization has achieved over the past decade. We are thriving, we are growing fast, and we plan on growing even faster. 

The potential unlocked by this new funding is enormous, enabling us to deepen our product, customer and people development.

Doubling Down on Product While Expanding Our Global Reach

Expanding into different geographies and investing in innovative AI applications is something we’ve been hyper focused on for over a year now. With this new strategic investment, we’ll be doubling down on these efforts and much more. 

We already have fantastic product and support colleagues all over the world, serving customers with properties in over 90 countries. Now is the time to add new language capabilities to our core product and offer even more services in those languages. Additionally, AI adoption and direct booking improvements will be at the core of what this new funding enables for us.  

Hostaway was the first PMS to integrate with ChatGPT, allowing customers to generate guest messaging and listing descriptions with the click of a button — and we’ve been doubling down ever since. General Atlantic’s investment will accelerate our AI product development, unlocking the power of AI to automate and optimize all aspects of your business. 

AI also holds keys to the success of your direct booking website. As more and more travelers turn to tools like ChatGPT to plan their vacation, Hostaway will ensure your direct booking websites are optimized for AI search, giving you more visibility and ultimately driving more revenue for your business. 

Beyond AI and direct booking, this investment will allow us to further expand into different markets and languages all over the globe. Hostaway currently serves thousands of active customers in hundreds of countries worldwide. And next year, our product will be able to serve many of those customers in their language of choice. 

New Opportunities, Same Mission

This new round of funding will bring exciting and meaningful improvements to our product and our team. But what remains the same as ever is our commitment to you, our customers. 

We are committed to continually improving the Hostaway platform to offer the absolute best product in the industry. We are committed to the success of our customers, and will continue investing the resources to do it. We are committed to elevating the Short-Term Rental space, to be advocates for the industry and the great community of people who make it what it is. 

While this investment will bring many exciting changes, our leadership team will not change. The same team you’ve come to know and trust isn’t going anywhere. In fact, we’re only just getting started. 

To our customers for making our success possible, to our partners who’ve grown alongside us, and to our employees who come into the virtual office every single day looking to make Hostaway the best organization it can be, we thank you for your support.

We’re excited to take the next steps in our company’s journey with you at our side. We couldn’t do it without you. 

FAQ

Q: Why is Hostaway raising additional capital now? How will it use the capital?

A: We are on an exciting trajectory, having achieved significant growth in recent years. With this partnership, we plan to further propel Hostaway’s growth strategy, including through international expansion, product development, and AI initiatives. Specifically, we intend to leverage General Atlantic’s significant expertise in scaling companies at the intersection of vertical software, integrated payments, and the travel and hospitality sector globally.

Q: What does this investment mean for Hostway’s product development?

A: We’re excited to continue to invest in our continued product innovation and international expansion initiatives. We also plan to introduce a generative AI-powered tool next year to further innovate for property owners and managers across guest messaging, content creation, and language translation.

Q: What international geographies is Hostaway planning to expand into with this new capital?

A: The new capital and partnership with our global investors will support our ambitions to increase our presence in France, Italy, and Spain, and elsewhere around the world.

Q: Will there be any changes to Hostaway’s leadership or management?

A: No. Our leadership and management teams will remain the same. Our team is as committed to our core mission and values as ever. 

Q: Will this investment affect my relationship with Hostaway? 

A: This investment will help strengthen our relationships with customers and partners. The new resources unlocked by the investment will allow us to enhance our customer and technical service, and provide an overall better experience for everyone in the Hostaway community. 

Q: What does this investment mean for Hostaway’s product? 

A: This will serve to accelerate the improvement of our product through innovation and growth. You can expect exciting new features, improved functionalities and investments in user experience. 

Q: How can I share my thoughts, feedback and questions? 

A: Any outstanding questions, or even just a quick note of congratulations, can be shared through our usual customer support channels. We’d love to hear from you!