Lack of clarity around a key term for calculating the goods & services tax (GST) rates for hotels is spelling trouble for consumers booking hotels in the peak tourist season.
Zuzu Hospitality Solutions, a Singapore-based yield management service provider for independent hoteliers, has announced its regional expansion on the back of completing a S$5 million (US$3.7 million) Series A investment round.
Completed in 4Q2018, the Series A round for Zuzu was led by Wavemaker Partners with other existing investors Golden Gate Ventures, Convergence Venture, and Alpha JWC Ventures as well as new investors Access Ventures and Line Ventures.
Regional expansion on the cards for the yield management service provider
The company was founded in 2016, and had raised a seed round of US$2 million in 2017 to allow it to invest in its product development.
With this new round of funding, the company is expanding its Asia-Pacific operations from its launch markets of Indonesia, Taiwan and Singapore.
The company has appointed veterans in the industry, Jake Coleiro as country manager for Australia and Prae Wattanalapa as country manager for Thailand.
According to Zuzu, less than one in 10 of the over 300,000 independent hoteliers globally use any sort of revenue management software. More than 10,000 of these independent hotels are in Thailand while Malaysia and Australia have 5,000 each.
Zuzu delivers an outsourced yield management solution for independent hotels. It couples a proprietary hotel operating system with a service model delivered by specialist revenue managers, said to deliver an average uplift of 30 per cent in online revenue.
Co-founder Dan Lynn said: “Zuzu is now the only complete outsourced yield management solution for independent hotels. Rather than dropping a piece of software on a hotel and expecting them to figure it out for themselves, we provide both the software and the service. We let hoteliers outsource their yield optimisation so they can focus on hospitality.”
Zuzu Hospitality Solutions, a Singapore-based yield management service provider for independent hoteliers, has announced its regional expansion on the back of completing a S$5 million (US$3.7 million) Series A investment round.
Completed in 4Q2018, the Series A round for Zuzu was led by Wavemaker Partners with other existing investors Golden Gate Ventures, Convergence Venture, and Alpha JWC Ventures as well as new investors Access Ventures and Line Ventures.
The company was founded in 2016, and had raised a seed round of US$2 million in 2017 to allow it to invest in its product development.
With this new round of funding, the company is expanding its Asia-Pacific operations from its launch markets of Indonesia, Taiwan and Singapore.
The company has appointed veterans in the industry, Jake Coleiro as country manager for Australia and Prae Wattanalapa as country manager for Thailand.
According to Zuzu, less than one in 10 of the over 300,000 independent hoteliers globally use any sort of revenue management software. More than 10,000 of these independent hotels are in Thailand while Malaysia and Australia have 5,000 each.
Zuzu delivers an outsourced yield management solution for independent hotels. It couples a proprietary hotel operating system with a service model delivered by specialist revenue managers, said to deliver an average uplift of 30 per cent in online revenue.
Co-founder Dan Lynn said: “Zuzu is now the only complete outsourced yield management solution for independent hotels. Rather than dropping a piece of software on a hotel and expecting them to figure it out for themselves, we provide both the software and the service. We let hoteliers outsource their yield optimisation so they can focus on hospitality.”