Hostaway has announced that it has received a significant investment of $175 million from private equity firm PSG. According to Hostaway, this funding represents a major milestone for the company and demonstrates the potential for growth within the short-term rental industry.
Hostaway has developed a strong presence in the market, serving thousands of active customers across more than 100 countries.
The infusion of capital is expected to accelerate Hostaway’s improvement plans while maintaining its commitment to providing innovative solutions and top-notch customer service, as stated by the company.
Hostaway states that the investment will be instrumental in expanding its offerings and driving ambitious improvement initiatives. With increased resources and capabilities, the company aims to solidify its position as a leading provider of property management software in the short-term rental industry. Hostaway asserts that it is dedicated to driving innovation, enhancing its product portfolio, and delivering value to its customers.
According to Hostaway, the focus areas for future development include product enhancement, customer service and support expansion, infrastructure security and reliability, and the development of scalable solutions.
The company claims these initiatives will improve the user experience, provide faster response times and personalized assistance, enhance infrastructure reliability and security, and ensure compatibility with customers’ business growth.
Hostaway’s CEO, Marcus Rader, has expressed confidence in the company’s ability to maintain its focus and deliver ambitious improvements. Rader has emphasized that Hostaway’s management team will remain unchanged, reaffirming their commitment to customer success and satisfaction.