$12M For Travel Agents’ Profit-Boosting Algorithm

An Israeli company that helps travel agencies increase their profitability has raised $12 million. 

Hotelmize provides travel agencies with an automated service that tracks client hotel reservations and then rebooks them at a lower rates.

Agencies increase their profits by keeping the difference between the original rate and the new lower rate. 

The price paid for a hotel room can fluctuate as many as 18 times before the check-in date – which means travel agents could be paying more than necessary.

Hotelmize uses an automated price prediction algorithm to track and analyze reservations from the moment of booking until check-in.

It helps hotel distributors, bed banks, wholesalers, and travel agents to increase profitability by 30 per cent and raise their business standards.

Hotelmize products are compatible with all booking systems, and run in the background so there’s no need for companies to change their workflow. 

The company works with 100 tourism companies in over 30 countries, monitoring over three million bookings daily.  

The new funding follows growth of over 800 per cent last year. 

The funding was led by Flashpoint Venture Capital, with participation of existing investors. Hotelmize has raised a total of $20 million thus far. 

Hotelmize was founded in 2016, and is based in Tel Aviv, with offices in Europe, Latin America, and Asia-Pacific.