Standard Hotels Spins Off One Night Booking App: Travel Startup Funding This Week
Photo Credit: A view of The Standard Downtown Los Angeles hotel. Parent company Standard Hotels incubated One Night, a mobile booking app for hotels, that it has now spun out to receive external venture capital investment. Standard Hotels
Skift Take
It's not clear there's enough market demand for a mobile app that books only independent and boutique properties. But some hoteliers might welcome the new app One Night if it can bring down its distribution costs, even marginally.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
This week travel startups announced more than $8 million in funding.
>>One Night, a mobile app for same-day bookings at independent hotels, has raised $5 million in Series A funding. The app offers stays at more than 200 hotels in 15 U.S. cities, plus in London and Bangkok.
Swan and Legend, a venture capital firm, led the round.
This is the first external venture investment in the business. Hotel company Standard International incubated the business and provided the initial capital. Now Standard Hotels has spun off One Night, with Jimmy Suh, who is leading its operations
