Event: 2024 Phocuswright Conference
HQ: Claymont, DE, U.S.
Principal(s): Kyle Killion, Co-Founder & CEO; Blaire McCoy, Co-Founder & CRO
Funding: Pre-Seed and Seed Round funding has been completed.
Product Description: Traverse integrates state-of-the-art algorithms, AI, and machine learning to deliver dynamic solutions that adapt to users' needs in real-time. The traditional stack hotels manage goes from an average of 10 systems down to a single one, without disrupting the day-to-day operations as we integrate directly into the Property Management System. We see results through our Long-Tail SEO and SEM management, direct integration into Google Hotel Ads, and streamlining systems like Central Reservation System, Content Management, Revenue Optimization, Channel Management, into a single platform to promote properties with accurate data, enhancing the overall clicks into the booking engine. With our booking engine, we have removed the need to add layers in order to provide users with things they expect: multi-room inventory, buy now, pay later options, or even Apple Pay and Google Pay. We also promote SMS and Email messaging through the platform pre-arrival which increases upsell opportunities and conversion overall for guests. When guests are on site, with our payment orchestration tool, users who pay for on-site services can be measured and billed, automating the end-to-end payment solution. This makes it easy for our guests to re-book or purchase a stay at hotel groups sister properties building into the retention of the guest.
Business Model: Commission based model to align our goals with the hotels objectives in driving as much revenue as possible to the bottom line.
Competitors: Synxis
Competitive Edge: By simplifying the hotel stack from an average of 10 systems to 1, hotels see an increase in direct bookings by 3x, they reduce expenses by 50%, and save over 40 hours of manual labor each week.
Market Opportunity: We have worked with a group of three properties in Jamaica, each a distinguished resort and unique in and of itself. The ownership group was struggling to drive demand and wasn’t seeing performance through their current platforms. We activated the Traverse platform and the results were telling. We have worked with some major chains on components of each of our tech stack, and see an open market for the components and the full-stack for property ownership groups, REITS, and even chains.
Early Customers: SMB Hotels with more than 2 properties in their group
