Guesty raises $50 million for a vacation rental management platform

With public health restrictions easing and the summer travel season approaching, Santa Monica-based Guesty Inc. is gearing up for what the company calls “hypergrowth” in its software development business. for vacation rental guests.

The company announced on April 27 that it had raised $50 million in a Series D funding round led by Apax Digital Fund, advised by Apax Partners.

Guesty said it will use the funding to hire new employees and refine its product offerings for short-term rental hosts. The company’s software integrates with a range of listing sites, including those operated by Air-bnb Inc. and Tripadvisor Inc., allowing users to manage bookings from multiple sources.

“We are entering an exciting chapter in the life cycle of our business,” chief executive Amiad Soto said in a statement.

Soto said the pandemic has spurred demand for short-term rentals “catering to an increased user base that expects the comforts and privacy of home coupled with hotel-like amenities.”

The vacation rental industry was hit hard in the early months of the Covid-19 pandemic, with bookings evaporating for many hosts. This trend reversed in the first months of 2021, according to data compiled by industry analyst AirDNA.

In March, U.S. occupancy for short-term rentals eclipsed 60%, surpassing a record high occupancy for the month recorded in 2019, AirDNA reported.

The company said it will continue to integrate new features into its platform that will streamline various aspects of property management for vacation rental hosts – including the ability to provide contactless guest check-ins and cleanings. improved to mitigate the potential spread of Covid-19.