Apartment style accommodation.
According to foreign media Crunchbase News reports that the United States The Guild has raised $ 25 million in Series B financing, which is being funded by Maveron , Convivialite Ventures and ATX Venture Partners, and real estate partners RXR Reality, Corigin and Nicol Investment Group. At the end of 2018, The Guild also received a $ 8.5 million investment from Maveron.
The Guild is an innovative accommodation service company , founded in 2016, headquartered in Austin, USA, co-founded by Brian Carrico and Chris Herndon. The Guild is both a hotel and services similar to Airbnb. The company has launched an apartment-style accommodation model in the city center to attract more business travelers.
The Guild’s business model is to partner with city market luxury apartment and office developers and convert entire floors into apartment suites. Its main target customers are business travelers, especially employees who need to travel to the same city every week due to a multi-month project. Each floor of The Guild’s operating apartment is similar to the hotel’s exclusive service, and guests can use the apartment’s swimming pool and gym and other conveniences.
The apartments run by The Guild have a concierge desk to welcome tourists and provide other assistance. The Guild also provides room cleaning services. Suites also have high-speed internet, kitchens, washing machines and dryers. Guests can also request room service staff to prepare food in the refrigerator before their arrival.
The Guild Hotel Booking Website
The Guild currently operates 800 properties in Austin, Cincinnati, Dallas, Denver, Miami and Nashville, with accommodation prices ranging from $ 150 to $ 250 per night. Other cities The Guild is currently focusing on are Boston, Chicago, Seattle, Los Angeles, and Washington, DC.
This round of financing will help The Guild expand its business to six new markets by 2021. It also plans to use some of these funds to develop new technologies to improve the guest experience. . The Guild had projected revenue of $ 25 million in 2019, while Sonder, which operates 8,500 apartments in 26 cities around the world, will have revenue of $ 400 million in 2019.
The Guild also faces competition from other startups offering similar services, such as Airbnb, and these companies have all raised a series of financing. For example, Sonder raised $ 225 million last summer, with a total funding of $ 260 million; Lyric also raised $ 160 million last year, some of which came from Airbnb.