Stay22, an event and travel technology firm, has racked up $250,000 (€223,400/£193,000) in commission, delivering on its promise to create revenue for platforms featuring the company’s map.
In October 2018, the firm reported it had raised $100,000 for its partners such as TicketBiscuit, Everfest, Evensi and Discodonnie Presents.
The money has been raised from the bookings generated through its partners’ maps. For each booking made, Stay22 gets a commission that is split with its partners.
In total in 2019 so far, the company, which won the 2019 Disruptor Award at the Ticketing Business Forum 2019, has generated more than $7m in booking volume.
Its growing list of partners such as SecuTix, TicketSource, Pollstar, Ents24, and London Theatre Direct feature the Stay22 map on their platforms to help customers purchasing tickets to book accommodation near to their event’s venue.
Stay22 claims to offers users access to the “largest inventory in the world, with over 35 million bookable listings worldwide.”
Stay22 chief executive and co-founder Andrew Lockhead, said: “We’re super excited about the rate of adoption of the event and entertainment industry. It’s inspiring that we can have such a positive impact for our partners in helping improve their user experience, and generate that sum of revenue for them.”
Stay22 currently boasts more than 1,000 events in 30 countries to provide travellers and event-goers access to lodging, from hotels to Airbnb and other alternative accommodation.
It claims to have achieved a 7.1 per cent conversion rate, which amounts to nearly three times as high as the online travel agency average. Since 2018, Stay22 has created $10m in booking volume, half of which came from January 2019 only.
In the coming months, Stay22 said it is set to add features such as opportunities for users to book advance parking and reserve at restaurants. Users traveling by car or renting one will be able to reserve parking ahead of their stay.