RoomPriceGenie Secures $75 Million Investment to Boost Global Growth
RoomPriceGenie announces a substantial investment to enhance its platform and expand internationally.
RoomPriceGenie has announced a $75 million USD investment from Five Elms Capital aimed at expanding its international reach and upgrading its award-winning platform.
As part of this strategic growth phase, Chas Scarantino has been appointed CEO, while co-founder Ari Andricopoulos transitions to Chief Strategy Officer, focusing on product innovation and strategic partnerships.
“According to Skift Research, only about 10% of hoteliers use a dedicated RMS for pricing, with adoption historically skewed toward larger properties and branded chains,” said Andricopoulos.
Translation: “According to Skift Research, only about 10% of hoteliers use a dedicated RMS for pricing, with adoption historically skewed toward larger properties and branded chains.”
RoomPriceGenie was established in 2017 to simplify automated pricing for independent hotels. They’ve expanded their functions while maintaining their core philosophy of simplicity and effectiveness. With the new OpenAPI PMS integration and financing from Five Elms Capital, along with Scarantino’s leadership, they’re set to assist more independent hotels in maximizing revenue through automated pricing solutions.
Currently, RoomPriceGenie operates globally with over 100 employees and 3,000+ hotel clients in 65 countries, having achieved profitability through its commitment to innovation and customer support. The company boasts several accolades in the HotelTechAwards, including prestigious rankings for its services.
“Five Elms identified RoomPriceGenie as a category leader in revenue management, both technologically and operationally,” expressed Ryan Mandl, emphasizing the launch of the OpenAPI for seamless integration.
Translation: “Five Elms identified RoomPriceGenie as a category leader in revenue management, both technologically and operationally,” expressed Ryan Mandl, emphasizing the launch of the OpenAPI for seamless integration.
Scarantino, bringing extensive experience in technology company growth, aims to nurture innovation while solidifying RoomPriceGenie’s status as a leader in revenue management systems.
