Sweet Inn is a French-Israeli startup founded in 2014. Active in Europe and in Israel, the company offers short-term rental apartments with hotel services.
As of 2017, Sweet Inn has around 150 employees and the housing stock includes upwards of 350 apartments.
Video Sweet Inn
Concept
In 2013, recognizing that the short-term rental market was booming, but was facing conformity, security and legal issues, through community platforms like Airbnb, Paul Besnainou imagined a new concept mixing the comfort provided by hotels with the convenience of a house. In 2014, Sweet Inn was founded.
Sweet Inn designs and refurbishes its apartments from empty housing spaces, focusing on "the importance of the design, the central locations in the cities' typical buildings...". All apartments offer high-end concierge services leading Sweet Inn to competes with 4-star and 5-star hotels.
Maps Sweet Inn
History
Sweet Inn's first rental apartments were situated in Paris, Jerusalem and Tel-Aviv (2014), followed with Brussels, Barcelona, Lisbon and Rome in 2015. The company aims to expend to other leading European cities and Asia in 2018.
Though initially aimed at tourists, Sweet Inn has been attracting to business customers and has created dedicated services for them.
A mobile app was released on July 2017.
Business model
Sweet Inn operates in the short-term housing rental market, dominated by the peer-to-peer platforms, but has a different business model. Sweet Inn rents out all its leased apartments by fully adhering to domestic laws in each city and country where it operates. For example, in order to legally operate in Paris, the company only rents out apartments registered as retail spaces.
Rental apartments can be booked directly from the Sweet Inn website or through online travel agencies. As of 2017, Sweet Inn has been drawing 20% of its sales from its website with the goal of increasing it to 50%. Sweet Inn had a turnover of 10 million euros in 2016 and in 2017 is forecasted to reach approximately 31 million euros.
Fund raising
In May 2017, several investors raised close to 20 million euros. Among them were the Israeli investment fund Qumra Capital, French investors from the investment club La Maison (managed by Michel Cicurel and Marc Levy), the Luxembourgish holding company M.I.3 and the fund BRM.
Thanks to these investments, Sweet Inn aims to develop new technological tools in the field of yield management, big data and loyalty marketing, but also to extend its housing stock.
External link
- Official website
References
Source of article : Wikipedia
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