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      <p>
        RentalReady, a property management software company and subsidiary of GuestReady, has launched Maia, an autonomous AI agent for short-term rentals. Property managers can use this tool to respond to guest inquiries without human intervention automatically.
      </p>
    </li>
    <li>
      <p>
        Maia is designed to handle guest communication and assist managers with multiple tasks, including upselling, reviews, and revenue management. The AI agent has been deployed in five languages across GuestReady's portfolio of more than 3,000 properties in Europe and the Middle East. It has launched AI-driven features, including on-demand itineraries, mood-based guest interaction suggestions, and smart replies to guest reviews within a unified inbox.
      </p>
    </li>
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      <p>
        The company anticipates that&nbsp; Maia's financial impact will be EUR 1 million (~USD 1.1 million) in 2025. RentalReady claims its comprehensive data set enables Maia to adapt to guest communications tasks quickly.
      </p>
    </li>
  </ul>
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  </p>
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  <p>
    <a href="https://www.phocuswire.com/rentalready-launches-fully-autonomous-ai-agent-maia">
      PhocusWire
    </a>
  </p>
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Travel Tech

PROMINENT_CATEGORY

<div>
 <p>RentalReady, a subsidiary of GuestReady, has introduced Maia, an autonomous AI agent for short-term rentals. This software enables property managers to automatically respond to guests' queries without human intervention.</p>
 <p>Maia, equipped with capabilities for guest communication, also assists managers in executing various tasks like upselling, dealing with reviews, and handling revenue management. The agent has been made available in over 3,000 properties in Europe and the Middle East, across five languages in GuestReady's portfolio. It carries AI-driven features, containing options for on-demand itineraries, suggestions for interaction based on guest mood, and intelligent response for guest reviews, all within a single inbox.</p>
 <p>RentalReady expects Maia to generate a financial impact approximated at EUR 1 million (~USD 1.1 million) by 2025. The company further notes that Maia's ability to adapt to guest communication tasks swiftly is facilitated by its extensive data set.</p>
</div>

RentalReady launches AI agent for guest query responses across short-term rentals

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

<div>
 <p>Priceline has improved its AI chatbot, Penny, by incorporating voice features through the use of OpenAI's latest Voice Engine and the GPT-4-powered Realtime API.</p>
 <p>Now, Penny has the ability to listen to and comprehend users' questions, anticipate needs based on prior interactions, and respond immediately in a chosen voice. The chatbot is being improved to perceive the customers' tone, respond fittingly, and understand various accents and speech patterns across over 120 languages.</p>
 <p>At present, the voice interaction is only available for queries related to hotels and destinations. Priceline, however, has plans to extend this feature to flights, car rentals, and vacation packages in the near future. The goal behind the integration of voice capabilities is to simplify the process of travel booking, making it as effortless as a conversation.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Companies in the travel tech industry are increasingly utilizing&nbsp;AI to streamline guest management services. In <a href="https:<br>
//sp-edge.com/updates/32164"> July 2024 </a> , Guesty launched ReplyAI, a GenAI messaging tool designed to automate guest communications, and in <a href="https:<br>
//sp-edge.com/updates/29442"> May 2024 </a> , Expedia introduced its AI assistant, Romie.</p>

Priceline adds voice capabilities to Penny chatbot to improve user experience

<div>
 <p>UK-based technology firm HotelRunner has purchased B2B travel marketplace Bookingate. The exact sum involved in the transaction has not been disclosed. </p>
 <p>The acquisition is part of an effort by HotelRunner to boost its existing platform, with the aim of improving travel management processes. It also hopes to enhance hotel contract and dynamic packaging processes. Another goal is to aid offline agencies in making the transition to the digital sphere. The deal will additionally facilitate support for travel agencies, tour operators, and destination management organizations in distributive and sales-related tasks. </p>
 <p>Bookingate offers a range of services to travel providers through its platform, including access to their hotel inventory. The company's booking engine offers standalone as well as bundled travel packages and also includes payment processing capabilities. It also provides a dashboard with options to track revenue and operational trends.</p>
</div> <p><b>Analyst QuickTake:<br>
</b> This acquisition aligns with HotelRunner's strategic objective to enhance its product offerings through targeted acquisitions. In <a href="https:<br>
//sp-edge.com/updates/22003"> September 2023, </a> HotelRunner acquired Paypad to provide comprehensive hotel payment solutions. This followed its <a href="https:<br>
//www.phocuswire.com/HotelRunner-acquires-RateFor"> September 2020 </a> acquisition of RateFor, a hotel analytics platform, to broaden its range of services for properties and online travel agencies.</p>

HotelRunner acquires B2B travel marketplace Bookingate to increase distribution offering

<div>
 <p>Mews, a hospitality management cloud provider, has acquired a funding of EUR 90 million (approximately USD 100 million) from Vista Credit Partners, a part of Vista Equity Partners. The total funding raised by Mews till now is around EUR 300 million (around USD 334 million).</p>
 <p>This financing is intended to expedite Mews' M&amp;A activities via its investment subsidiary, Mews Ventures. Mews Ventures has so far acquired nine hospitality firms. Further, Mews aims to utilise the funding to enhance its technology and team, thereby revolutionising technology in the hospitality field.</p>
 <p>Over 5,500 clients across 85 countries form Mews' expanding customer base. In the past 12 months, the company has seen a 250% growth in its user base in North America and has exceeded 75,000 platform users globally.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> This round follows the recent Series D funding in <a href="https:<br>
//sp-edge.com/updates/27231"> March 2024 </a> , when the company raised USD 110 million, valuing it at USD 1.2 billion. The funds were earmarked for R&amp;D, acquisitions, and expansion, aligning with Mews' strategy to enhance its product offerings to meet the growing demand for cloud-based solutions in hospitality as the industry shifts away from traditional on-premise systems. The company has shown noticeable growth, reporting a 54% increase in gross payment volume, totaling over USD 8 billion year to date.</p>

Mews secures EUR 90 million in financing from Vista Credit Partners to expedite M&A strategy

<div>
 <p>Tourism activity provider, GetYourGuide, is dealing with continuous demonstrations from World Animal Protection due to animal welfare concerns connected to the activities they list. This issue was brought to public attention when the animal rights group protested at a New York City event featuring a speech from GetYourGuide's co-founder.</p>
 <p>While GetYourGuide asserts that they have responsible tourism guidelines and they remove activities that conflict with these policies, the activist group argues that the company still advertises potentially harmful animal experiences. The organization highlights that other major travel platforms, like Airbnb, Expedia, and Booking.com, ceased selling tickets to captive wildlife entertainment venues after collaborating with them.</p>
</div>

GetYourGuide faces protests over animal welfare concerns for listed tourism activites

<div>
 <p>Sabre is said to be attempting to sell its hospitality technology unit for the second time in two years, utilising the services of investment bank Evercore to manage the sale. The company, however, has not confirmed these reports.</p>
 <p>The hospitality unit recently entered into a beneficial agreement with Hyatt to use Sabre's Synxis central reservation system. This deal is anticipated to lead to double-digit revenue growth and augmentations in margin production.</p>
 <p>By the end of 2023, Sabre Hospitality aims to serve 42,000 properties across 175 countries. It currently accounts for 10.8% of Sabre's total revenue. The unit offers software as a service (SaaS) solutions catered to hotel pricing, reservations, and distribution management.</p>
</div> <p><b>Analyst QuickTake:<br>
 </b> Sabre Hospitality’s attempts to <a href="https:<br>
//hoteltechnologynews.com/2022/09/sabre-may-be-looking-to-sell-its-hospitality-technology-business/"> sell </a> its business in 2022 failed. Since then, it has worked to strengthen its platform. In <a href="https:<br>
//sp-edge.com/updates/21003"> August 2023 </a> , Sabre launched "Lodging AI" to offer personalized lodging options and in <a href="https:<br>
//sp-edge.com/updates/30587"> June 2024 </a> , the company introduced the GenAI-backed SynXis Concierge.AI tool to improve hotel customer service. As a result, Sabre Hospitality’s performance has reportedly improved, returning to profitability in Q2 2024 with USD 5.3 million in operating income and a 9% YoY revenue increase to USD 83 million.</p>

Sabre reportedly considers selling its hospitality tech unit again

<div>
 <p>Turneo, a hospitality platform has raised 2 million dollars in seed funding led by Bessemer Venture Partners and participation from Underline Ventures.</p>
 <p>The funding will help expand in new markets, develop its product further, establish more partnerships with hoteliers and enhance AI capabilities to provide personalized travel experiences through hotels.</p>
 <p>Turneo helps hotels provide guests with in-destination activities and transfer bookings on their websites or apps. It was recognized as a PhocusWire Hot 25 Travel startup for 2024. Their data indicates guests who booked activities through them gave hotels 8% higher ratings on review sites.&nbsp;</p>
</div>

Turneo raises USD 2 million in seed funding to expand operations

<div>
 <p>B2B travel platform Hotel Engine has successfully obtained USD 140 million in a Series C funding round. Permira Growth Opportunities II, a fund advised by Permira, led the funding. This investment has subsequently increased Hotel Engine's valuation to USD 2.1 billion, a significant rise from USD 1.3 billion during their Series B funding in November 2021.</p>
 <p>This investment is planned to facilitate ongoing product advancement, including the inauguration of flight and rental car reservations on their platform which is expected in October. Additionally, the company has also decided to undertake a rebranding initiative and will be known as "Engine" to better represent its broadened scope which is not confined to hotel bookings only.</p>
</div>

Hotel Engine raises USD 140 million in Series C funding; plans to rebrand to ‘Engine’

<div>
 <p>AI-enabled travel planning platform Mindtrip garnered USD 12 million in a funding round headed by Costanoa Ventures and Forerunner Ventures. This follows their previous funding round of USD 7 million in late 2023, taking their overall funding to USD 19 million.</p>
 <p>This capital is allocated for Mindtrip's product development and improvement for the next two to three years. The company aims to create various income channels such as commissions from travel bookings and offering AI tools for destination marketing organizations.</p>
 
</div> <p><b>Analyst QuickTake:<br>
</b> The travel tech industry is increasingly embracing GenAI, with startups and established companies driving the trend. In <a href="https:<br>
//sp-edge.com/updates/28109"> April 2024 </a> , Stippl raised funding to enhance its platform by integrating GenAI and developing AI trip planners. Following suit, in <a href="https:<br>
//sp-edge.com/updates/29442"> May 2024 </a> , Expedia launched Romie, an AI assistant to enhance travel planning.</p>

Mindtrip raises USD 12 million in Series B funding to develop AI trip planner

<div>
 <p>Tripadvisor has decided to stop managing direct bookings of vacation rentals on its platform, moving towards a business model that will work with third-party providers. Any reservations with check-in dates beyond November 1 are to be cancelled and full refunds given to guests.</p>
 <p>This shift in strategy, which may affect Tripadvisor's vacation rental brands such as Holiday Lettings, FlipKey, and Niumba, aims to align vacation rentals with their current hotel services and improve customer satisfaction.</p>
 <p>Although Tripadvisor has shared that this change will streamline services and enhance customer experience, the recent announcement of a $10 million liability related to their vacation rental business could have influenced the decision. As of 2023, this segment only proved to be a small part of Tripadvisor's total revenue, making up less than 3%.</p>
</div>

All Updates

RentalReady launches AI agent for guest query responses across short-term rentals

Priceline adds voice capabilities to Penny chatbot to improve user experience

HotelRunner acquires B2B travel marketplace Bookingate to increase distribution offering

Mews secures EUR 90 million in financing from Vista Credit Partners to expedite M&A strategy

GetYourGuide faces protests over animal welfare concerns for listed tourism activites

Sabre reportedly considers selling its hospitality tech unit again

Turneo raises USD 2 million in seed funding to expand operations

Hotel Engine raises USD 140 million in Series C funding; plans to rebrand to ‘Engine’

Mindtrip raises USD 12 million in Series B funding to develop AI trip planner

Tripadvisor discontinues direct vacation rental bookings; introduces new business model using third-party providers

Travel Tech

RentalReady launches AI agent for guest query responses across short-term rentals

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