Short-term rental management company GuestReady is expanding into the Canary
Islands with the acquisition of Lightbooking for a total consideration of €1.2 million.
This acquisition adds more than 200 units to GuestReady’s existing
portfolio in Spain and brings the group’s total to more than 4,000 keys
globally.
GuestReady, a PhocusWire Hot 25 Travel Startup for 2019, described
the transaction as a major milestone for the company as it almost doubles its
presence in Spain.
The acquisition is GuestReady’s 12th since the company was
founded in 2016, which it says demonstrates its sustained expansion in Europe through
M&A.
“This acquisition marks an important step in GuestReady’s
European journey,” said Alexander Limpert, co-founder and CEO of GuestReady. “Expanding
into the Canary Islands strengthens our position among Europe’s leading
professional hospitality operators. Under Gustavo’s leadership, Lightbooking
has built a truly market leading platform in the Canary Islands, with deep
local expertise and a strong reputation with both owners and guests. We’re
proud to welcome such a strong team and portfolio into GuestReady.”
The group will offer its existing technology platform to rental
property owners in the region including RentalReady, its artificial
intelligence-driven property management system.
“What impressed us most about GuestReady was the
professionalism of their operating model and the strength of their technology
platform,” said Gustavo Guevara, CEO of Lightbooking. “RentalReady is truly
best-in-class, and we see a strong opportunity to scale our portfolio under a
unified management approach while delivering outstanding value to both owners
and guests.”