With a $1.2 billion valuation, Mews, an Amsterdam-based cloud platform for hospitality, just completed a $110 million investment round, making it a unicorn. Even while the money will be crucial in helping Mews pursue strategic acquisitions, R&D projects, and worldwide expansion, this amazing accomplishment wasn’t achieved overnight but rather as a result of several important things coming together.
Addressing an Important Industrial Necessity
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The narrative of Mews starts in 2012 with Richard Valtr, a former hotelier who saw directly the drawbacks of the sector’s reliance on antiquated, on-premise technology. He saw the need for a cloud-based platform to improve visitor experiences, expedite processes, and open new avenues. Hoteliers grappling with antiquated systems that were cumbersome, costly, and incapable of meeting the changing needs of the digital era found great resonance in this concept.
Establishing a Solid Foundation and Fostering Trust
Setting out on his aim, Valtr brought together a group of driven people to create Mews, a full-featured cloud platform for hospitality. A range of functions, including property management systems, booking engines, tools for processing payments, and connectors with different hospitality apps, were provided by the platform. Mews solved several issues that hoteliers were experiencing by offering a centralised, user-friendly platform.
Lower Operating Costs
Cloud-based solutions provided a more affordable option by doing away with the requirement for pricey hardware and software licensing.
Enhanced productivity: Employees were able to concentrate on providing outstanding guest care because of the time and resources saved by automated procedures and streamlined workflows. Improved visitor experiences Mews gave hotel operators the ability to customise visitor experiences, provide self-service choices, and meet changing client needs.
An approach focused on expansion and creativity
Mews understood that success required both innovation and growth. The business concentrated on a few crucial strategies:
Organic Growth
Mews’ strong platform and gratifying client feedback spurred organic growth as happy hoteliers told others about the platform. Mews made eight major acquisitions in the hotel industry, including Frontdesk Anywhere, Hotello, and Nomi. Through these purchases, they were able to increase the size of their client base while also integrating new features and technologies, which enhanced the potential of their platform.
Globalisation
Mews deliberately extended its reach outside of Amsterdam, serving a broader spectrum of clients and positioning itself as a major player on the world stage after realising the possibilities of other markets.
Continuous Innovation
Mews places a high priority on R&D, often adding new features and functions to its platform. Mews’ dedication to innovation guarantees its position at the forefront of the hospitality technology industry.
Fostering Confidence and Drawing in Investors
Mews’ remarkable development trajectory, innovative spirit, and devotion to solving important industry challenges were duly noted. Important investors like Kinnevik and Goldman Sachs came to believe in the firm. These investments gave Mews the money it needed to keep growing, go worldwide, and carry on with its mission to transform the hospitality sector.
Conclusion
Mews’ experience teaches prospective business owners important lessons.
Determine a vital need: Speak to a genuine issue that your intended audience is facing.
Create a convincing remedy: Provide a novel product or service that successfully addresses the defined demand.
Concentrate on expansion: Create plans for both inorganic and organic development to increase your clientele and market penetration.
Accept innovation: To stay ahead of the curve, keep coming up with new ideas and ways to better your goods or services.
Establish alliances and trust: Build trust with clients and business associates to get the assistance and assets required for success.
Mews’s ascent to unicorn status is a result of its remarkable development trajectory, strategic collaborations and acquisitions, dedication to innovation and expansion, concentration on meeting a pressing industry need, and investor trust. Mews is in a good position to continue leading and influencing the direction of the hotel industry as it develops.
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