Event: 2021 Phocuswright Conference
Product: RoomPriceGenie
HQ: Steinhausen, Switzerland
Principal(s): Ari Andricopoulos, Marvin Speh, Joerg Siegel
Funding: Pre-seed round completed mid-2019. Seed round completed mid-2021. $3.3m funding total.
Product Description: Automated pricing solution for non-experts is not simply revenue-management for large hotels with a nicer interface! It is a total reimagining of everything from algorithm to user experience to onboarding. We have a 2 minute self-setup vs weeks and $$$. Our prices are intuitive to understand and easy to control, not black-box. Our UX is constantly tested to make sure it is easily understandable. We created a Hotel Tech Academy and a ‘revenue management by email’ product to get people started.
Business Model: Monthly subscription, minimum $179 per month for our main plan. Hotels typically make 15-20% more revenue so it gives huge value for them. This value is reflected in 97% recommendation score on HTR, almost zero churn, 95% of hotels on pricing autopilot. We are looking to scale through both sales and partnerships with PMSs and channel managers.
Competitors: Doing nothing because it is too expensive and complicated or using excel. Main other market players are RMS for larger hotels. We mostly are in a blue-ocean market where competition is client apathy!
Competitive Edge: The first and only fully-automated, data-based dynamic pricing solution for ordinary people! 2-minute self-setup. Unique, highest quality algorithm, even with limited data. Intuitive pricing and UX; for anyone who cannot have their own fulltime revenue manager on site. Full automation – 95% of clients on full auto-pilot.
Market Opportunity: There are hundreds of thousands of independent hotels, serviced apartments etc that don’t have a revenue manager but are really losing out to revenue-managed hotels. The rise of OTAs, comparing all hotels on price, is exacerbating this inequality. Standard RM software, built for larger hotels, is too complex and expensive. AirBnB pricing software is not good for multiple units. This is a solution built for that huge market-segment that has been ignored so far.
Early Customers: Independent hotels (most < 60 rooms), small chains, serviced-apartment groups.
Contact: Marvin Speh, COO & Co-Founder; marvin@roompricegenie.com; +49 1573 681 4757
