Photo - Stayr
46929

Stayr

By the hour

Singapore
Market: Internet and IT
Stage of the project: Prototype or product is ready

Date of last change: 12.05.2020
Min investment
$  100.000
Show contacts
Total required
$ 500.000
Rating
equalizer из 1000
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Idea

A real time, location based booking platform that allows you to enjoy flexible time at the hotel by the hour. Be it for work, leisure, travel, Stayr got you covered.

Current Status

Soft Launch

Market

- Corporates
- Photographers
- Transits / Short getaways
- Leisure / Celebrations
- Bag packers / Travellers

Problem or Opportunity

Most times empty rooms in hotels are not being fully utilise throughout the full year, especially during off peak seasons or in the course of a pandemic recovery.

1 in 3 hotels don't hit maximum capacity in the travel industry. (statista report - 2019)
Hotel unoccupancy rate hitting 70% high in Feb 2020 after Corona outbreak. (straits times - 2020)

Solution (product or service)

Hotel bookings by the hour.

Stayr is a booking platform that allows you to check in and out of hotels anytime, any duration.

Hotels own a physical asset 365 days a year and they need to maximize revenue for every square centimetre, 24 hours a day.

Stayr helps to maximise revenue by exploiting unused assets. In this instance, its space.

Competitors

byhours.com

Advantages or differentiators

We are the same, just like how foodpanda is to deliveroo. With better tech infrastructure, UI/UX and a team that understands the S.E.A market.

Business model

Hotels can sell unused space and time while weary travellers can rest and refresh without committing to an overnight stay. This service allows guests to book a hotel for less than the typical overnight stay of 20 hours. Some hotels offer stays for as little as three hours.

Hotels are capitalising on the ability to sell the same room twice in one day, simultaneously offering savings to those looking for a place to rest outside of the common check in times.

Stayr generate it's revenue by charging a service fee from the hotels.

Money will be spent on

25% R&D
30% sales & marketing costs
10% fixed overhead costs
25% hotel acquisition costs
10% miscellaneous buffer

Offer for investor

open to negotiations

Team or Management

Risks

Imitations from big players like Expedia
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video