Event: 2021 Phocuswright Conference
HQ: Vienna, Austria
Principal(s): Lukas Zirker, CEO & Thomas Bangert, CCO
Funding: Midnightdeal raised €800,000 so far. Currently raising a €3m pre-A round.
Product Description: Midnightdeal’s unique advanced technology of yield creates the world's most revolutionary booking tech company where both the suppliers and the customers get the best deal at a price of their choice. Midnightdeal marries online bookings with gamification and disrupts the current online booking process by adding fun to every checkout.
Business Model: The most renowned hotels and hotel chains are happy to pay Midnightdeal an above industry-average 20% performance-led commission!
Competitors: Midnightdeal does not have any direct competitors per se as they are unique in gamified yield tech, however, they keep a very close eye on indirect competitors in the travel flash sale area such as Travelzoo, Voyage Privé and Secret Escapes.
Competitive Edge: The only hotel marketplace able to generate bookings below the best avail. flash rates by capitalizing on the use of price elasticity of demand. We onboard hotels up to 60x faster than our closest competitors. Hotel partners are able to generate first incremental revenues within 24 hours & gain access to exclusive user behavior & pricing dynamics.
Market Opportunity: There’s a fundamental failure at the heart of the (European) travel market due to inefficient room distribution - a loss of €90 billion every year. This huge gap, representing 5.5m vacant rooms per day in Europe, is caused by room rates not matching the travellers’ willingness to pay. Midnightdeal’s unique advanced technology of yield exploits an untapped liquidity of €20bn per year.
Early Customers: Midnightdeal served over 15,000 travellers to date and partnered with over 500 renowned hotels in Europe.