According to the National Statistics Institute (INE), in July 2022 alone, overnight stays in non-hotel tourist accommodation reached 21.8 million, representing a 72.9% increase in the demand for this type of service.
Is in this context that GuestReady, a leading European platform in the management of tourist rentals, has announced its landing in Spain with an organic and M&A growth plan with the aim of developing its business in this market.
The Swiss proptech promises to revolutionize the management of short and medium-stay tourist apartments, also helping Spanish owners to increase the yield of their properties by up to 150%. With an international team with years of experience and a portfolio that grew by almost 70% in 2021, GuestReady is committed to Spain as part of its international expansion strategy, with forecasts of working with more than 50 properties in 2022, and reaching 200 next year, thus boosting the digitization of the Spanish tourism sector.
After the arrival of the pandemic, the tourism sector in Spain has gone from representing 12.4% of GDP in 2019 to only 7.4%. Despite all this, the importance of this economic activity allows us to conclude that its recovery after the pandemic will be a turning point for Spain’s economic growth, highlighting its resilience.
“It is undeniable the important impact that the tourism sector has on the Spanish economy. This is why GuestReady has chosen Spain for its international expansion, taking into account its great potential for short-term rental management,” explains Sophie Piechocki, GuestReady’s Business Developer for Spain. “The impact of the pandemic has made digitalization a determining factor in achieving the reactivation of the tourism sector, helping owners to manage their properties and adapting them to the needs of users,” adds Piechocki.
€16M in funding to digitize tourism
With operations in Europe (UK, France, Portugal, Spain, and Switzerland), as well as in the United Arab Emirates (UAE), GuestReady has experienced rapid growth thanks to its commitment to the digital transformation of the tourism sector, a trend that has been accelerated as a result of the pandemic and the new demands of travelers.
Since 2018, GuestReady has managed to raise more than €16 million in funding, a figure that demonstrates the confidence that investors have placed in its business model. It is also worth highlighting that, to date, the company has managed more than 2.6 million booked nights globally, enjoying the trust of more than 4,000 owners and an average occupancy rate of 78% for managed properties.
