Photo - Stayr
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Stayr

Book Hotels, Spaces & More By The Hour

Singapore
Market: Internet and IT
Stage of the project: Operating business

Date of last change: 11.10.2020
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Idea

A real-time, location-based booking platform that allows you to enjoy flexible hours with hotels, offices, spaces around the world. Be it for work, leisure, travel, Stayr got you covered by the hour.

Current Status

In operation

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
dayuse.com

Advantages or differentiators

- Stayr allows on-demand real-time acccommodation bookings
- Stayr allows flexible check-in timings
- Stayr allows flexible booking durations
- Stayr offers workspaces, accommodations, facilities, amenities spaces, on top of hotels. By the hour.

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

Incubation/Acceleration programs accomplishment

EthAum accelerator program

Product Video

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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