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The hospitality market is digitizing.
As the world continues to adapt to new norms, hotels, and accommodations are stepping up their game to cater to their guests' ever-changing needs. From personalizing communication to keeping up with the highly competitive industry, the hospitality market is buzzing with opportunities.
TrustYou, the All-in-One Guest Experience Platform, founded in 2008 and now one of the most trusted and innovative players in the hospitality market. TrustYou’s guest feedback platform collects and analyzes customer reviews of accommodation providers, providing hotels with insights to improve their guests’ experience, and market to future guests.
Managed since 2017 under the umbrella of Recruit Group, TrustYou recently bought back its shares via this management buy back operation, with Ventech as the main investor. By investing in the right technology, Ventech aims to elevate TrustYou to new heights.
General Outlook
As most COVID restrictions have been lifted, most countries are ready to welcome tourists once again. At the same time, there is an inherent push for adoption of travel tech in the last three years. And with the rise of remote work, hotels have been transformed into “workation” environments. Competition is fierce for hotel development and revenues are higher than ever.
Key Facts:
- The global hospitality market is booming, with revenues expected to reach $6.7 billion by 2028. (Facts Factors)
- Europe is still a prime destination for tourists, with the hotel industry potentially worth a staggering €43.9 billion by 2027. (Mobility Foresights)
- Data and AI are driving this growth forward by creating more personalized experiences for customers.
- Today's guests value seamless experiences, sustainability, and well-being (making the wellness industry a trillion dollar market).
Guest feedback solutions like TrustYou are becoming increasingly important as customers crave high-quality, one-on-one experiences. In fact, the investment in this new technology and contactless communication method sustainably changed the way travel and hospitality businesses operate and connect with guests.
Why invest in TrustYou?
With a proven business model, a database including 92% of the world's hotels, and a customer retention rate of over 90%, the ambitious TrustYou team is on the right track to consolidate the industry and drive this new wave of innovation. As lead investor, Ventech is committed to help the company, adding and developing new technology to improve management reputation and customer satisfaction in the hospitality industry.
“The global market for hotel and hospitality management software is bouncing back and expected to grow to $5 billion by 2027. We are, therefore, confident that there are incredible possibilities within the industry to push the latest digitization process even further and create a whole new experience for guests. When the opportunity presented itself to invest in TrustYou and its team, it was an easy decision. In fact, we see a clear path to create a well-rounded tool. We have complete confidence in the team, and product, to deliver outstanding results,” said Christian Claussen, General Partner at Ventech.
The vision behind TrustYou
Ben Jost, the visionary CEO, and founder of TrustYou, just secured a major win with the buyback of substantial shares in the acquisition. His goal? To unify industry solutions under one roof, creating a seamless, one-stop-shop for professionals and customers alike.
He states, “We see TrustYou's future in helping hospitality and travel businesses to concentrate on what matters most to them: happy guests. Today's core focus is to provide a best-in-class platform for hoteliers, DMO's and travel partners to measure and act on guest happiness via surveys, reviews, and guest communication. We will also be very active in acquiring and building more cutting-edge technology and tools to create a single entry point, further increase guest happiness and revenue while decreasing operational costs.”
