Making More Affordable Software for the World's Independent Hotels

Independent owners and small-to-mid-sized operators manage a majority of the world's hotels, bed-and-breakfasts, and short-term rental properties. But their lack of tech expertise and small budgets tend to make them tough sells for software vendors. That has left an opening for startups aiming to tackle this underserved market. Enter HotelRunner, a startup offering basic tools for managing and selling travel lodging online. It has found traction this year despite the pandemic. Since March, HotelRunner grew its client list by 10 percent to 40,000 properties. The London-based startup said on Thursday it had acquired RateFor, a small firm in Istanbul offering rate analysis, shopping, and comparison tools. The companies didn't disclose the terms of the cash deal. While many hotel tech vendors have been furloughing staff and struggling, HotelRunner has been profitable and is currently hiring for market managers, product managers, and developers in Europe and the U.S. to join its 55 employees. HotelRunner has aimed to stand apart by applying a low-cost model — think Ryanair or Yotel — to a software market for running and selling properties online that has grown bloated and expensive, said Arden Agopyan and Ali Beklen, managing directors and former IBM engineers who co-founded the company in 2016. [caption id="attachment_404112" align="alignright" width="400"] From left: Managing directors and co-founders Ali Beklen and Arden Agopyan. Source: Emre Corbaci at HotelRunner.[/caption] "Arden and Ali from HotelRunner have been some of the most impressive founders we've worked with here at Founders Factory," said Louis War