LifeHouse is a boutique hotel brand that has developed technologies geared at assisting independent hotel owners and operators.
Recently LifeHouse raises a $60 million Series C round of funding co-led by new investors Kayak and Inovia capital.
The funding brought LifeHouse‘s total amount raised by the business since its founding in 2017 to a little over $100m. It was supported by the company’s previous backers Tiger Global, Thayer Ventures, JLL, Trinity Ventures, Sound Ventures, and Cooley LLP, among others.
With these recent resources, Life House intends to continue developing a cloud-based hotel management platform that offers individual hoteliers financial performance and operational liberty. Additionally, the business will keep making investments to develop and expand its white-label management platform.
Life House Overview
Life House is a hotel brand with technology at its core established in 2017 and plans on selling its management software directly to hoteliers, making it easier for independents in the hospitality industry.
The company has developed an effective software solution for managing hotels that are grown its hotels’ profitability by nearly 200 percent, and its software developer.
With the continued success of the platform, the company is a customer of its own tech.
Almost 50 hotels in North America are currently under Life House’s management. Branded hotels accounted for around 50% of the startup’s portfolio at the time of its $30 million Series B in January 2020.
Presently, 85% of its portfolio is made up of hotels operated by other parties who have signed white-label agreements to use its software instead of hotels bearing the Life House brand.
In addition to the capital increase, the company says today that its software is “complete and mature enough” to be sold directly to international hoteliers and operators that wish to take control of the on-site management of hotels.
The change has effectively transformed Life House from a tech-enabled hotel operator into a (70-person) SaaS business.
LifeHouse’s CEO Zeidan Statement
CEO Zeidan declared, “We’ve been pretty effective. “We’ve spent just a little bit more than $20 million over the last four years. We’re excited to see what it will mean for the final product now that we have three times that.
It is noteworthy because one of its lead investors is Kayak, one of the biggest travel websites in the world. With Life House as its software and operational partner, according to CEO Steve Hafner, his company intends to “reimagine the hotel experience.”
According to Hafner, “Our investment will contribute to accelerating innovation and the growth of Kayak’s hotel projects.
We both believe that better technology can help independent hotels run more efficiently and profitably. They also have a fantastic team and reputable co-investors in VC.
Agile software development is being combined with hands-on operations by Rami and his team, which is a fantastic combo.
In North America, Life House now oversees the operations of around 50 hotels. Approximately 50% of the startup’s portfolio at the time of its $30 million Series B in January 2020 consisted of branded hotels.
Currently, 85% of its portfolio is made up of hotels operated by other parties who have signed white-label agreements to utilize its software instead of Life House.
Life House’s Goals
Life House has experienced an increase of more than 600% since the COVID-19 outbreak began. Simply put, the company’s objective is to act as a one-stop shop and make it simple for anyone to own, develop, and operate any hotel of any shape or size and to do so “maximally profitably.”
Owners benefit from its assistance with things like revenue management and dynamic pricing, accounting and financial reporting, general operations, as well as branding and design.
As Zeidan told TechCrunch, “Hotels today are difficult to run and are essentially owned by people or businesses as financial properties.” The primary objective is to increase the profitability and value of real estate as a financial asset.
With the platform we’re developing, we’re taking a highly profit-centric approach to this challenge, so everything we sell to hotels directly contributes to increased profitability.
Over the last few years, there has been a lot of change in the hotel industry. Companies like Airbnb, HomeAway, and Booking.com have given travelers new options when it comes to booking a hotel, and it’s changing the face of the industry.
Kayak has stepped in to help the industry adapt to its new valuation of $60 million. “We are thrilled to continue to support Kayak’s growth and innovative spirit,” said Ryan O’Hara, a partner at Battery Ventures.
Conclusion
Life House has raised $100 million in funding, with the help of new investors Kayak and Inovia Capital. This latest investment will be used to develop a cloud-based hotel management platform that offers individual hoteliers financial performance and operational liberty.
Additionally, the business will keep making investments to develop and expand its white-label management platform. Life House is on track to becoming one of the most disruptive forces in the hospitality industry, thanks to its unique approach and rich history of innovation.
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Faqs
A company called Life House offers software, a brand, and management services for hotels. We have successfully managed over 50 hotels under our award-winning hotel brand, and we have used our operational expertise to create effective software that will increase the efficiency and profitability of independent hotels.
Rami Zeidan founded a life house.
Compared to so-called “branded” hotels, lifestyle hotels are said to be innovative and offer a more individualized experience. A premium lifestyle hotel provides individualized attention, soothing spas, excellent cuisine, butler services, and wine services, to name a few of its numerous features.
It was founded in 2017.
