Luxia, a technology and media business in the global hospitality sector has closed an investment round from AiTC and LBA investors. This round also included participation from the London Co-Investment Fund (LCIF).
The company tackles the major commercial challenges that hoteliers now face from Online Travel Agents (OTAs like booking.com and hotels.com) that are responsible for up to 75% of bookings and charging fees of up to 25%. In a highly competitive industry running on tight margins, OTAs are placing huge financial strain on hoteliers big and small. Consequently, hoteliers are embracing technology to drive direct bookings, increase loyalty and digital revenues to compete and thrive.
LUXIA optimises guest-facing tech such as Wi-Fi landing pages and in-room television across the major hotel groups and in two years has grown its connected network to 2.3m rooms (8.5% market share). Hotel groups include Accor Hotels, Hilton, Starwood, Kempinski and many others. LUXIA enables hotels to monetise their digital assets by driving new revenues via premium advertising brands such as Burberry, Cartier, Google, HSBC, Mercedes, Moet, Ralph Lauren, uber and UBS to name a few.
This investment will enhance the scalability of Luxia platform and enable expansion into a number of large global partnerships.