Economic Times Sept 24
BANGALORE: Seedfund, an early-stage investor, has invested in Axis Rooms Travel Distribution Solutions, whose room management software allows hotels to update and share their inventory status with agents and portals in real time.
Currently, online travel websites expect hotels that partner with them to set aside a certain number of rooms that may or may not be filled up. Also, the inventory is not updated real time.
Various online channels, from the hotel’s website to travel portals, account for about 16% of a hotel’s advance reservations, according to a 2012 survey by HVS Global Hospitality Services, a consulting firm focused on the hotel industry.
Seedfund, which recently recorded a big exit from online bus ticketing portal redBus, sees this latest deal as a continuation of an investment strategy based on backing ventures that aggregate services in unorganised markets.
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Seedfund invests in software of Axis Rooms Travel
