123Compare.me Company Profile

Background

Company Overview

123Compare.me is a Barcelona-based travel technology (travel tech) Software as a Service (SaaS) company specializing in enhancing hotel direct revenue and improving the guest journey. Founded in 2017, the company has developed a suite of marketing technology (MarTech) products and services aimed at increasing both short-term and long-term revenue for hotels. With a presence in over 100 countries, 123Compare.me serves more than 2,000 hotels worldwide.

Mission and Vision

The company's mission is to empower hotels to regain control over their room distribution by detecting and eliminating price disparities across online sales channels such as Online Travel Agencies (OTAs), metasearch engines, and bed banks. By identifying and addressing these disparities, 123Compare.me aims to enhance the competitiveness of hotels' direct channels, thereby increasing direct bookings and revenue.

Industry Significance

In the hospitality industry, maintaining price parity across various distribution channels is crucial for preserving brand integrity and maximizing revenue. 123Compare.me addresses this challenge by providing tools that monitor and correct price discrepancies, ensuring that hotels can offer consistent pricing to consumers across all platforms. This capability is particularly significant given the prevalence of OTAs and their impact on hotel pricing strategies.

Key Strategic Focus

Core Objectives

Price Parity Management: Developing tools to detect, verify, and resolve price disparities across OTAs, metasearch sites, and bed banks.

Direct Channel Enhancement: Implementing marketing actions throughout the booking cycle to boost direct bookings and revenue.

Areas of Specialization

Conversion Rate Optimization (CRO): Utilizing various tools to increase hotel direct revenue by optimizing the booking conversion process.

MarTech Solutions: Creating and providing marketing technology products and services tailored to the hospitality industry.

Key Technologies Utilized

Artificial Intelligence (AI) and Big Data: Leveraging AI and big data analytics to monitor pricing behaviors and identify disparities in real time.

Automated Claim Generation: Implementing systems that automatically generate claims to address identified price disparities.

Primary Markets Targeted

Independent Hotels: Offering easy-to-implement solutions without the need for technical support.

Hotel Groups: Providing scalable tools that adapt to the needs of multiple properties.

Booking Engines: Facilitating simple integration via scripts to offer added value to clients.

Financials and Funding

Funding History

123Compare.me has undergone a pre-seed funding round led by Right Side Capital Management. Specific details regarding the total funds raised and the intended utilization of the capital are not publicly disclosed.

Pipeline Development

Key Pipeline Candidates

The company focuses on developing and enhancing its suite of tools designed to address price disparities and improve direct bookings. Notable products include:

Magic Parity Tool: Provides detailed price parity analysis between the hotel's direct channel and OTAs, identifying critical disparities and recommending corrective actions.

Find & Book: An automated parity resolution tool that detects, verifies, and resolves disparities in real time, performing test bookings, validating gaps, and submitting claims automatically when needed.

Price Match: Continuously monitors OTA rates and ensures the hotel's website always shows the best available rate by matching or improving prices in real time to secure direct bookings.

Target Conditions and Timelines

While specific timelines for product development milestones are not publicly disclosed, the company's focus remains on continuous innovation to address the evolving challenges in hotel pricing and distribution.

Technological Platform and Innovation

Proprietary Technologies

Magic Parity Tool: Offers real-time price parity analysis, identifying and addressing pricing disparities across various distribution channels.

Find & Book: Automates the detection, verification, and resolution of price disparities, streamlining the process for hoteliers.

Price Match: Ensures the hotel's direct channel offers the best available rate by dynamically adjusting prices to match or beat OTA rates.

Significant Scientific Methods

Behavioral Marketing: Utilizing data-driven insights to understand and influence consumer behavior, thereby enhancing the effectiveness of marketing strategies.

Big Data Management: Employing advanced data analytics to monitor and analyze pricing behaviors across multiple channels in real time.

Leadership Team

Key Executives

Jordi Serra: Co-Founder & Partner.

Pau Ferret: VP of Growth, Chief Revenue Officer, Co-founder, and Chief Revenue Officer.

Eva Gómez: Digital Project Manager.

Matias Palomo Marti: Business Development Director.

Oriol Manya: Chief Technology Officer.

Enis Dorlevi: Country Manager - Turkey.

Laia Carreras Barceló: Sales Manager.

Jordi Marti Ros: Senior Business Developer.

Víctor Sisón Checa: Front-End Developer.

Pedro Martínez García: Internship Trainee.

Competitor Profile

Market Insights and Dynamics

The hospitality industry faces significant challenges related to price parity, with OTAs often undercutting hotel direct rates. Studies indicate that in three out of four instances, OTAs offer lower prices than those listed on the hotel's website. This dynamic underscores the importance of solutions like those offered by 123Compare.me to help hotels maintain competitive pricing and protect their direct revenue streams.

Competitor Analysis

Key competitors in the market include:

Triptease: Offers direct booking tools aimed at increasing hotel direct bookings.

The Hotels Network: Provides a suite of tools designed to enhance direct bookings and revenue.

Userguest: Specializes in direct booking tools with a focus on user engagement and conversion.

These competitors offer similar solutions but may differ in specific features, ease of use, and integration capabilities.

Strategic Collaborations and Partnerships

Specific details regarding strategic collaborations and partnerships are not publicly disclosed.

Operational Insights

123Compare.me differentiates itself by offering a comprehensive suite of tools that not only detect and resolve price disparities but also enhance the direct booking experience through marketing actions and user engagement strategies. This holistic approach positions the company as a significant player in the market, addressing both the technical and marketing aspects of direct revenue optimization.

Strategic Opportunities and Future Directions

The company is well-positioned to capitalize on the growing need for price parity solutions in the hospitality industry. By continuously innovating and expanding its product offerings, 123Compare.me aims to strengthen its market position and support hotels in maximizing their direct revenue potential.