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House of Life raised $ 60 million in Series C funding led by new investors Kayak, iNovia Capital and Derive Ventures.
The round also features participation from existing investors Thayer Ventures, Tiger Global, JLL, Trinity Ventures, Sound Ventures and Cooley LLP, among others.
Life House and Kayak have been working together since last spring with the opening of Kayak Miami Beach, a hotel managed by Life House. In mid-November, the partners announced two additional hotels under the Kayak brand and operated by Life House, both in Playa del Carmen, Mexico.
CEO Rami Zeidan launched Life House in 2016 as a brand and operator for independent hotels, using his proprietary software suite that provides solutions for revenue management, marketing, financial operations and real estate operations.
The company now operates more than 50 hotels in North America, including the three Kayak properties, and says the software platform is “complete and mature enough” to start selling it directly to hoteliers and operators.
“Our mission has always been to build stand-alone hotels by developing software that makes hotels maximally profitable and easy to operate,†said Zeidan. “Having successfully created this powerful software and seen the results on our managed hotels, we are delighted to increase our impact by selling it to other operators and independent owners who are largely underserved by the solutions that exist today. . “
Life House claims its software helps the properties it manages to increase profitability by over 200% and net income by over 45%. The new funds will be used to further develop the cloud platform and sell it to hoteliers around the world.
“We are reinventing the hotel experience with Life House as a software and operational partner,†said Steve Hafner, CEO of Kayak. “Our investment will help accelerate the innovation and expansion of Kayak’s hotel initiatives.”
The current Life House hotels range in size from 14 to 375 rooms, but the company says this can be a solution for hotels of any size.
Source: Phocuswire
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