Event: 2022 Phocuswright Conference
Product: Cherry
HQ: Melbourne, Australia
Principal(s): Matt Taylor & Luke Young
Funding: We have raised approx. $500,000 USD to date.
Product Description: Cherry is a browser extension and mobile app, which gives consumers access to the best travel deals and accommodation properties the power to drive more direct bookings.
Properties can partner with Cherry and intercept our users when they search for your property on any OTA. The Cherry app fires over the top of the OTA site, offers a better deal and redirects the user to your direct site to finalize the booking.
Properties pay less commission, and the consumer saves money – everyone wins!
Business Model: Cherry partner properties pay a monthly cost of $10, plus a cost-per-click of $0.79c for each person we send to their direct website. There are no lock-in contracts, we just ask for 60 days’ notice to leave. Partner properties are featured across our browser extension and mobile apps, plus have access to our management and reporting extranet.
Competitors: Cherry is a very new and unique product. There are no similar products in the market, however we still compete with all OTA and booking platforms.
Competitive Edge: You want more direct bookings? To succeed you need more eyeballs on your direct website! Trying to compete with the marketing power of OTAs is almost impossible. Cherry’s approach is unlike anything else. We allow you to intercept guests on OTA sites and bring them to your site – it’s magic!
Market Opportunity: Cherry is unlike any other tool available today. This innovation can help the millions of accommodation properties worldwide be less reliant on third party distribution channels and drive more direct bookings. We work for hotels, motels, resorts, vacation rentals, RV parks and everything in between.
Whilst accommodation is our focus today, shortly we’ll also be launching into other travel verticals like attractions, tours, flights and car hire, where the same direct booking challenges exist.
Early Customers: There are 1000+ accom properties from Australia, NZ, Canada and the US, already signed on and receiving direct bookings from Cherry.
