Turneo Secures €2 Million to Revolutionize Hospitality
In a significant development for the travel tech industry, Turneo, a forward-thinking start-up dedicated to experiential hospitality, has successfully secured a €2 million seed investment round. This investment was led by the esteemed Bessemer Venture Partners, with contributions from Underline Ventures. The announcement, made on 18 September 2024 in London, UK, underscores Turneo's commitment to revolutionizing the hospitality sector by integrating extraordinary in-destination activities for guests of leading hotels. The funding will not only enable the company to broaden its global reach but also enhance its product offerings, allowing hotels to better serve their guests with engaging experiences.
Founded in 2022 by the innovative duo Matija Marijan and Fran Kauzlaric, Turneo has created a platform that empowers hotels to manage their entire portfolio of activities in a streamlined manner.
Guests can effortlessly browse and book exciting local experiences directly through the hotel’s website or app. Meanwhile, hotel operators benefit from a comprehensive dashboard that allows them to publish new activities, collaborate with local service providers, and analyze feedback through guest reviews. Fran Kauzlaric noted, “Travellers plan and book activities before arriving at their destination. With Turneo, hotels can finally showcase their destinations and manage the activity offering to their guests,” highlighting how this solution leads to improved guest satisfaction and additional revenue streams for hotels.
The travel and hospitality market is evolving significantly, and data from the 2024 Europe summer season indicates that hotels utilizing Turneo's platform have seen impressive results. Guests who booked activities reported, on average, an 8% increase in ratings on review sites, illustrating the positive impact of well-managed experiences. As the market for experiences and hotel activities is projected to reach $463 billion by 2030, Turneo aims to capture a significant share of this growth, forecasting that $172 billion will move through hotels. Aditya Nidmarti from Bessemer Venture Partners emphasized the shift in traveller preferences and the necessity for hotels to adapt. He stated, “Turneo is playing right into this market shift by building a platform for hotels to seamlessly create, manage, and monetise rich experiences for guests.” This investment is poised to position Turneo as a key player in transforming the future of hospitality and travel experiences.
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