LONDON: On 27 April 2021, The Apax Digital Fund (ADF) and the AMI Opportunities Fund (AMI) have announced an investment in Guesty, a leading short-term rental (STR) and alternative property management software platform.
The investment is part of a $50 million Series D funding round led by ADF.
On a look through basis, Apax Global Alpha Limited (AGA) is expected to invest approximately €1.7 million in Guesty.
Note that these figures relate to AGA’s look through position of the Apax Funds’ overall investment in Guesty and are stated before taking into account any closing adjustments and are translated into Euro based on today’s exchange rates where applicable.
Headquartered in Tel Aviv, Israel, Guesty provides professional hosts and property management companies with an end-to-end solution to automate and streamline the complex operational needs of managing flexible inventory.
With Guesty, users can manage listings from multiple online travel agencies including Airbnb, Booking.com, Agoda, Vrbo and TripAdvisor, and use the company’s guest-centric communication, billing and task management tools.
Following a COVID-impacted 2020, Guesty has seen a significant rebound in demand for short-term rentals with 2021 summer reservation volumes in the US currently 282% higher compared to last year and 32% higher compared to pre-Covid, 2019 volumes.
The funding will be used to accelerate growth in key markets as the hospitality sector emerges from the Covid-19 pandemic, enhance product capabilities to serve diverse customer segments and provide capital for future M&A.
AGA, whose shares are listed on the London Stock Exchange, provides investors with access to a diversified portfolio of private equity funds advised by Apax Partners as well as a focused portfolio of debt and equity investments (“Derived Investments”). In 2017, AGA made a commitment of $50m to ADF and in 2015, AGA made a commitment of $30m to AMI.