Hotel Engine reaches a $2.1 billion valuation, rebrands as Engine
The company secured $140 million in Series C funding, raising its valuation from $1.3 billion to $2.1 billion
With new investment secured, Hotel Engine is set to expand its offerings beyond hotels. In October, the Denver-based company will introduce flight and rental car booking capabilities to its platform, and will rebrand as Engine to reflect this expanded focus.
Key takeaways
- Hotel Engine launched in 2015 as a subsidiary of corporate housing company Travelers Haven, addressing a long-standing customer need for hotel booking assistance;
- The company has seen a 70 percent year-over-year increase in revenue, and expects to book more than 10 million room nights by 2024;
- Looking ahead, Engine is considering further expansion into areas such as group bookings once its flight and car rental services are fully integrated.
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