Hotel Engine raises $140 million

Travel tech startup Hotel Engine announced a $140 million Series C growth investment led by Permira Growth Opportunities II at a $2.1 billion valuation.

Founded in 2019, the Denver-based startup is on a mission to simplify business travel by providing software that saves companies time and money without “the hassle of contracts, agent-assist fees or minimum spends.” Some of the features Hotel Engine offers include consolidated invoices, 24/7 customer support, and coverage for incidentals, which presents an alternative to the requirement of providing a credit card when checking into a hotel. The startup also allows travelers to cancel reservations before, during, or after trips and receive travel credit for unused nights.

Aside from solutions to business travelers, travel providers are able to use Hotel Engine’s Partner Hub software platform for free which enables them to provide special offers to business travelers, manage reservations, create marketing campaigns and benchmark against competitors.

Hotel Engine’s network includes more than 750k hotels, 300 airlines and 40 rental car companies.

“Hotel Engine is a category leader in more ways than one. They’ve figured out how to provide the benefits of managed travel without the downsides such as contracts, minimum spend requirements and extra support fees, and they’ve also created a business that appeals to both travelers and suppliers like hotels, airlines and car rental companies. We are confident that Hotel Engine has miles of room to run, and we’re excited to be part of the journey alongside Elia and his team.” – Permira Principal Alex Melamud.