SINGAPORE, 22 November 2023: Singapore-based hospitality and travel-focused venture capital firm Velocity Ventures has announced a strategic investment in BYHOURS, a leading booking platform for microstays with more than 4,000 hotels.
Velocity Ventures will support BYHOURS’s expansion into the Asian market, underscoring the team’s commitment to investing in tech start-ups reshaping the hospitality and travel sector.
One of the main advantages of BYHOURS is its flexibility, allowing guests to “pay per use” with 24-hour check-in time. With BYHOURS, travellers only need to pay for the hours they need, which is suitable for a traveller seeking a quick rest or having a short layover without an overnight stay.
BYHOURS boasts microstay partnerships across 25 countries with independent 3, 4 and 5-star hotels and major hoteliers in the industry, including Hyatt, Sheraton, Crowne Plaza, Best Western, Accor Hotels, and NH Hotels. Beyond the convenience of room bookings, BYHOURS microstay guests can enjoy full access to hotel facilities. Travellers can elevate their stays with lifestyle inclusions like the hotel’s gym or pool.
BYHOURS CEO and co-founder Guillermo Gaspart shares expansion plans: “BYHOURS will prioritise collaboration with travel agencies, corporations, and online travel agencies (OTAs) and establish symbiotic relationships as a bed-bank for microstays. By extending our channel distribution with B2B partners that want to cross-sell micro stays with their offerings, we can optimise revenue for our hotel partners.”
Guillermo Gaspart and Christian Rodriguez established BYHOURS to disrupt the traditional booking systems of the hotel industry. At the helm is CEO and co-founder Guillermo Gaspart, who brings a wealth of knowledge from his family’s fourth-generation hotel business, specialising in business plans, start-up phases, hotel pre-openings and fundraising. Co-founder Christian Rodriguez, a seasoned entrepreneur, has a talent for building and nurturing exceptional teams and experience in the operational and corporate management of companies and projects.
BYHOURS already has more than 300,000 users and has sold more than one million hotel hours, generating more than 20 million euros in turnover for the hotel industry.
