Latvian VC BADideas.Fund invested €170K in Swiss price management software for hotels RoomPriceGenie

Latvian BADideas.Fund invested €170K in Swiss price management software for hotels RoomPriceGenie.

The startup was founded in Steinhausen (Switzerland) in 2017 by Ari Andricopoulos (CEO), Marvin Speh (COO), and Jörg Siegel (CTO). RoomPriceGenie helps set and manage prices for rooms in small and medium-sized hotels. The company’s automated pricing solution analyses data (up to 500 properties, which are located nearby the hotel) to understand how the market works in the area, for example, when there is a hot season, and what events are relevant for pricing. Also, it looks at the occupancy and pick-up performance to adjust the rates according to the demand that the client experiences in his hotel. Thus the hoteliers get the optimal and competitive prices for booking rooms several times a day and up to 18 months into the future. The rates would not be too cheap, so the hotelier would lose money, and at the same time, the rates would not be too expensive, so very few rooms would be booked. 

RoomPriceGenie's software can be used by managers without experience in price management systems. The company's clients are hotels, motels, pubs, bed and breakfasts, and apartment companies.

BADideas.fund is a Latvian fund, launched in April 2022. It focuses on pre-seed and seed-stage startups from Baltics and CEE region. The typical ticket size is €100K. The fund has more than 40 business angels, founders, executives, and employees of Bolt, Vimeo, Printify, PandaDoc, Pipedrive, and others.