You only have a minute? Here are 3 takeaways from this article:
• Proptech startup OTA Sync raises €1.3 million in a funding round
• THE The round is led by Presto Ventures and joined by Katapult Accelerator, TS Ventures Fund, DSI Group of Business Angels, Startup Wise Guys and California Expert Fund DOJO.
• Founded in 2021 in Estonia and with a team in Serbia, the company has over 2,000 users across 17 markets.
OTA Sync is a complete property management system with an integrated channel manager and booking engine system. Founded by entrepreneurs Djordje Jevtic and Ilija Milovic, the proptech focuses on hotels and helps owners and operators run their businesses from one location.
So far, the company has created 4 solutions: a property management system, a booking engine, a channel manager and a customer experience application. Together, the tools bring sales, operations, customer experience and property management under one roof.
“This is the first period of advanced transformation in hotel technology. With this round of investment, we will prove to hoteliers around the world that technology is a necessary and useful part of the team and management process – and not something that makes their lives difficult. Business development, OTA synchronization will invest in growth in the Spanish and Latin American markets, while further positioning itself as a market leader in cloud hotel technology in the Balkan region. On the development side, the company focuses on customer experience and revenue management. Djordje Jevtic, CEO of OTA Sync, told The Recursive.
Currently, the proptech is focused on the Eastern Mediterranean region – Albania, Croatia and Greece, and its plans also include the launch of a support program for all hotels that are eco-certified or turning to eco-sourced sustainable energy.
According to Presto Ventures, OTA Sync’s tools come at the right time for the tourism industry.
“We believe the rapid rise of mass tourism post-Covid creates an ideal framework for tools that significantly increase the productivity of the hospitality sector’s already scarce workforce. The synergy between Djordje and Ilija’s industrial experience, coupled with product maturity, positions them perfectly to capitalize on this vast opportunity. Personally, I look forward to seeing more hotels using OTA Sync when traveling,” Milan Lupac, partner at Presto Ventures, said in a statement.
Jevtic, who has more than 10 years of experience in the hospitality industry, adds that over the next three years he expects to see more niche technology solutions and OTAs (online travel agencies) popping up in the market, with a strong focus on customer experience. management, CRM and employee productivity.
“AI will bring significant changes to the way hotels interact with their guests. Due to high employee turnover and low employer branding, the market will also experience non-technological changes that will allow the hospitality industry to adapt to new job market trends. The short-term rental sector will continue to grow faster than the hotel industry in developing countries. » Jevtic concludes.