Dubai, United Arab Emirates, July 23, 2022 (GLOBE NEWSWIRE)-Dubai DIFC-based next-generation hospitality company redefining the guest experience through technology and design Qstay Hospitality Technologies (“Qstay” or “Company” ”) Has been announced They recently closed in a $ 6.5 million SEED round. Financing was a combination of debt and capital.
Qstay was officially launched in 2020 and was co-founded by co-CEO Artur Khayrullin, a longtime resident of the UAE. Ukrainian-born Ekaterina Rogozhina, CCO; Ukrainian-American Alec Fesenko, CO-CEO and his wife Natalia Fesenko, the first investor. Since its inception, Qstay has gone against its mission to transform the hospitality industry by combining state-of-the-art services with exciting and thoughtfully designed accommodations into one seamlessly managed experience. I did. Qstay currently operates nearly 200 properties in the UAE and Europe, with an additional 200 signed and expects to have 450 revenue-generating units by the end of 2022.
Qstay operates as a virtual hotel brand that offers hotel-like luxury services and amenities such as bathrobes, slippers, luxury toiletries, toiletries, tea and Starbucks coffee. In addition, Qstay provides digital app-based access to nearby pools, beaches, gyms and spas. For guests staying at beachfront hotels.
Qstay holds the coveted superhost status and higher rating than its competitors on Airbnb, which currently consistently has an extraordinary occupancy of over 80% and well above its competitors at $ 195. Equivalent to the excellent REVPAR of. Qstay predicts that EBITDA has been positive in the last two quarters and that in the fourth quarter of 2022, net income will be positive only in the second year of operation.
The company’s revenue is growing at a rate of over 100% quarterly, and Qstay expects its portfolio to grow to over 600 units and reach $ 50 million in revenue in 2023.
Artur Khayrullin, founder and CO-CEO of Qstay, said the capital was used to “accelerate the amazing growth we’ve seen so far” and the concept will expand to at least five cities in Europe and the Middle East over the next 12 months. intend to do something.
“QSTAY’s differentiated digital services model allows the company to reduce operating costs by up to 50% compared to traditional hotels. Innovative technology, mobile-based access to top beach resort facilities, cautious QSTAY, an additional digital service such as designed accommodation, is revolutionizing the hospitality industry, “said Artur Khayrullin. “With unparalleled modernized service, customers can experience uncompromising quality and inspiring design at a price that democratizes access to an exceptional hospitality experience.”
The company leases large groups of units in the best locations, upgrades and offers them to consistent luxury standards, supports them with a wide range of services and facilities like luxury hotels, nightly, weekly , Or on a monthly basis.
The company also offers a text-enabled 24-hour concierge service and does not own any units, but confirms that everything is “leased and managed directly by Qstay.”
“Our salary increases highlight the strength of our business and the rapid changes that are taking place within the hospitality industry due to innovation. Our travel vision gives everyone access to beautifully designed spaces using technology. At the same time as being able to do it, it’s about providing a great mobile app-based addition.-About the service. ” “We offer unique spaces and add-on services that are far more efficient than traditional hotels, yet flexible enough to meet the needs of everyone. When traveling alone. But whether you’re traveling for business, traveling with your family, or traveling with friends, there’s always space to accommodate you. “
Today, Qstay is developing a differentiated, technology-driven platform that provides an integrated on-demand platform for seamless booking, digital concierge, and maintenance and services.
This increase will provide Qstay with additional capital to accelerate and strengthen Qstay’s vision.
Qstay plans to take advantage of opportunities within the growing $ 800 billion global accommodation market to strengthen its position as a differentiated and fast-growing innovator in the hospitality industry. Over the next few years, Qstay will continue to invest in technology, expanding its footprint and product offerings to drive an unmatched guest experience while delivering even greater value to investors, real estate partners and guests. It’s a schedule.
Press contact: artur@qstay.ae
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