Only have 1 minute? Here are 3 takeaways from the piece:
• Proptech startup OTA Sync raises €1.3M in a seed round
• The round is led by Presto Ventures, and joined by Katapult Accelerator, TS Ventures Fund, DSI Group of Business Angels, Startup Wise Guys, and California Expert Fund DOJO.
• Established in 2021 in Estonia and with a team in Serbia, the company has over 2,000 users in 17 markets
OTA Sync is a full property management system with an integrated channel manager and booking engine system. Founded by entrepreneurs Djordje Jevtic and Ilija Milovic, the proptech focuses on hotels and helps owners and operators manage their businesses from a single place.
So far the company has created 4 solutions: Property Management System, Booking Engine, Channel Manager, and a Guest experience app. Together the tools bring sales, operations, guest experience, and property management all under one roof.
“This is the first advanced hotel tech transformation period. With this round of investment, we will prove to hoteliers worldwide that technology is a necessary, useful part of the team and management process – not something that complicates their life. From the business development, OTA Sync will invest in growth in Spain and LatAm markets, while further positioning itself as a cloud hotel tech market leader in the Balkan region From the development side, the company is shifting focus towards guest experience and revenue management.” OTA Sync’s CEO Djordje Jevtic tells The Recursive.
Right now the proptech focuses on the region of the East Mediterranean – Albania, Croatia, and Greece, and the its plans also include the launching of a support program for all hotels that are eco-certified or turn to sustainable energy sources.
According to Presto Ventures, OTA Sync’s tools come at the right time for the tourism industry.
“We believe the rapid post-covid surge of mass tourism creates an ideal setting for tools that significantly increase the productivity of the already scarce hospitality workforce. The synergy between Djordje and Ilija’s industry experience, coupled with the product’s maturity, positions them perfectly to capitalize on this vast opportunity. Personally, I can’t wait to see more hotels using OTA Sync during my travels,” Milan Lupac, partner at Presto Ventures, said in a statement.
Jevtic, who has more than 10 years of experience in hospitality, further adds that in the next three years, he expects to see more niche tech and OTA (online travel agencies) solutions coming up in the market, with a strong focus towards guest experience management, CRM, and employee productivity.
“AI will make significant changes in how hotels interact with guests. Due to high employee turnover and weak employer branding, the market will also see non-tech changes that will make the hospitality industry adapt to new trends in the employment market. The short-term rental business will continue to grow faster than the hotel industry in developing countries.” Jevtic concludes.