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Travel TechLab by HBX Group is the innovation lab of HBX Group, powered by Wayra. The lab seeks to constantly re-imagine the world of travel by finding new ways to help our customers succeed, and to enable our business partners to achieve their goals.

As part of our ongoing mission to co-innovate with startup partners to deliver impactful, customer-focused experiences, products and platforms which reshape the travel industry, the Lab hosted a Pitch Day Challenge. Startups from around the world were invited to showcase the forward-looking ways in which their products and services are providing solutions to real-life challenges currently being faced within the industry.

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In this ‘Spotlight On’ blog series, we’ll be shining a light on each of the four start-ups that were shortlisted during this Pitch Day Challenge, to bring their work to the forefront of the travel industry’s focus.

This first ‘Spotlight On’ will explore the journey of Smartvel, a B2B SaaS company working within the travel industry to improve customer experience and SEO through the use of AI-powered digital solutions and high-quality content that resonates with their clients’ audiences, to ultimately drive increased sales and brand awareness.

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We spoke to founders Iñigo Valenzuela and Esperanza Zarauz about the company, their mission, and the solutions they’re bringing to the industry.

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Can you describe the genesis of Smartvel as a startup, including the idea that sparked its creation?

Smartvel was founded by Iñigo Valenzuela and Esperanza Zarauz. Both with C-level experience, we thought it was the right time to start our own adventure. Iñigo worked for many years in companies such as Marsans and CWT, and Esperanza in the media industry at Prisa and WPP. The beginnings were a rollercoaster, with ups and downs that involved discovering just how difficult it is to create a B2B solution in the travel industry, whilst always looking for technological advantages that would make our company stand out from the rest.

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We started Smartvel because we wanted to start our own company, and we thought it was the perfect dynamic for both of us. The genesis of the idea was that, as an industry, we had not solved the problem of how to properly inform the end traveller and provide real consulting added value in one part of the travel journey: information about the destination.

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Companies were focused on their own products instead of adding value in this area. We thought that inspiration drives sales and value, and that there was an opportunity to build a global trusted solution for that.

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Can you articulate Smartvel’s mission as a company and its long-term vision, outlining the problems it seeks to solve, and the opportunities it presents?

Our mission is to improve our clients' customer experience and SEO through AI-powered digital solutions and meaningful content, resulting in increased sales and brand awareness across the entire customer journey.

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We’re present at the top of the funnel, or the ‘inspiration’ phase; in the pre-departure phase, or in pre-departure emails; and also at the destination, with different solutions for each interaction.

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We offer the unique blend of a technology company and a content company, using technology to create content in a more targeted and efficient way. But at the same time, we have a relevant team of copywriters who create content at scale using technology as a critical tool.

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How does Smartvel fit into the larger industry landscape, and what is its growth potential?

We want to be the reference in the industry when it comes to travel content, understood as information for the traveller. The market is huge, and we are very happy to partner with Hotelbeds as we think it is the perfect fit for us to support our growth in different verticals like hotels, travel agencies and DMOs.

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We have customers on every continent, although we have been focusing more on the airline industry lately, so we think that hotels offer the best opportunity for global growth.

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What is your unique value proposition, and how does it set you apart from the competition?

We offer the best content with a mature travel tech company that provides customisation in content and products, detail, expertise, and a range of solutions that fit with the overall strategy of the industry.

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Tell us about the innovative solutions that Smartvel offers!

First, there are our Destination Content solutions, with everything there is to do in a destination, with POIs, restaurants, events like music, sports and culture, and any layer of content that our customers want to integrate, such as tours and activities, their own products, et cetera.

Second, we have our ‘EntryDocs’ solution, where we provide all the information needed to make a trip from A to B, taking into account nationality and residence.&nbsp; We provide health documents and visa requirements to take the stress out of travelling, and use technology to detect changes in these requirements. We read the official websites every hour to see if anything has changed.

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Who is your target audience, and what are the specific needs or pain points that your offerings address?

As a B2B SaaS company in the travel industry, we work with all players, from the suppliers of the final product, such as airlines, hotels, car rentals; to the classic intermediaries, like travel agencies, tour operators and bed banks; and all the different technology players around them, such as GDSs and tech providers. We also work with DMOs and other segments such as insurance or F&amp;B.

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Tell us about Smartvel’s accomplishments and milestones. What are your current significant achievements to date?

If we had to name our most important milestones, we would be remiss not to talk about how we achieved a positive EBITDA and operating cash flow, which is very important for any company – but for a startup, this is the difference between ‘life’ and ‘death’. We have also achieved significant global MkShare in some of our products. For example, with EntryDocs, we’ve reached a total global MkShare of international travellers of 30%.&nbsp;

As a company, we believe one of our biggest achievements is that we have, and continue to maintain, a strong culture in times of uncertainty and change, such as COVID or remote working, where innovation, and product change mindsets are key. That we also have a positive churn figure – which means that upsells from current customers exceed losses of portfolio – &nbsp;means a healthy portfolio of customers.

Another of our biggest achievements is being able to work with some of the most respected and biggest brands in the industry as a relatively small company (50 FTE). We always say that having demanding customers makes us a better company. Not to mention completing our first M&amp;A, by buying a direct competitor!

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How do you foster innovation, as a company?

Innovation is a challenge for any company, and it is exactly the same for a startup. We have some advantages, especially size and agility, but there are many risks: we can't fail too often to be generous; cash is king and can easily shut down your company; and the trade-off between talent and salary is complex to manage.

Our key to success, if you can call it success, has been to look for the best team, create a culture of transparency and excellence, and always look for new opportunities. What was a disruptive solution at a certain moment will become a difficult market over time. The only solution is to generate change, to be really open to it, and to create new solutions together with our customers.

We use the classic agile approach, so we are not very original. Of course, we do quarterly reviews of our strategic plan, reviewing and updating the mid- and long-term priorities.

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Meet the team at Smartvel

Smartvel's directors with Threedot.io&nbsp;team in a strategic session, pictured from left to right : Glenn Morgan (Threedot);&nbsp;Miguel Camacho, CTO, Eric Leopold (Threedot);&nbsp;María Liniers, CCO;&nbsp;Iñigo Valenzuela, CEO; Belén Romero, COO; Esperanza Zarauz, CFO

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TRAVELTECH LAB BY HBX Group

We explore the intersection of emerging technology and travel, to build innovative products and consumer experiences all whilst engineering solutions that advance HBX Group's innovation agenda, and better the lives of our customers.

We’re firm believers that in a collaborative environment, it’s all about exploring new horizons to future-proof our business and drive digital transformation.

Learn more about our work  here, and visit the Smartvel website to discover more about their offering.


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Spotlight on Smartvel

The TravelTech Lab by HBX Group is the innovation lab of HBX Group, powered by Wayra, which seeks to constantly re-imagine the world of travel by finding new ways to help our customers succeed, and our business partners achieve their goals.

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As part of our ongoing mission to co-innovate with startup partners in order to deliver impactful, customer-focused experiences, products and platforms which reshape the travel industry, earlier this year TravelTech Lab by Hotelbeds hosted a Pitch Day Challenge, where startups from around the world were invited to showcase the myriad, forward-looking ways their products and services are providing solutions to real-life challenges currently being faced within the industry.

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In this ‘Spotlight On’ blog series, we’ll be shining the light of attention on each of the start-ups that were shortlisted during this Pitch Day Challenge, to bring their work to the forefront of the travel industry’s focus.

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The second in this series, this ‘Spotlight On’ will focus on the development of Grain from its beginning to fully formed start-up, which captured our attention thanks to its embedded cross-currency solution that protects travel platforms and their customers from FX volatility.

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We spoke to founders Dor Golan, Michal Beinisch, Aharon Navon and Nir Galon, all entrepreneurs with previous experience at Barclays, Deutsche Bank and other prominent fintech start-ups, to get some insight into their journey, their mission, and how they’re working to bring smarter fintech solutions to the industry.

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Can you describe the genesis of the start-up, including the idea that sparked its creation?&nbsp;

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The genesis of the startup Grain can be traced back to the challenges posed by the volatile nature of foreign exchange (FX) rates, especially during times of geopolitical conflicts, political instability, and economic downturns. This volatility significantly impacts global transactions, creating a substantial risk of value changes between the initiation of a deal and the completion of its payment.&nbsp;

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Recognising the growing need for effective hedging solutions to minimise this financial risk, Grain was conceptualised. The startup's mission is to empower B2B software platforms and marketplaces by providing them with the tools to offer cross-currency hedging at attractive prices. A key feature of Grain's innovation lies in its fully automated risk assessment process, which delivers optimised custom pricing. This approach ensures that businesses can safeguard their transactions against the unpredictability of FX rates, thereby securing their financial stability.



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Can you articulate for us Grain’s mission and long-term vision, outlining the problems that it seeks to solve?&nbsp;

Our mission at Grain is to empower businesses with technology and financial solutions that were previously inaccessible to them. We provide newfound financial certainty, ensuring that enterprises can navigate cross-border challenges with confidence. Through the solution of automated hedging tools, we eliminate currency risk efficiently and effectively, catering to businesses of all sizes.

As we look ahead, we're committed to pioneering tailored solutions for diverse industries, catering to the unique needs of sectors such as travel, supply chains, e-commerce, and accounting platforms. It was important to us that at Grain, our customers’ journey to financial empowerment is underpinned by innovation and precision.

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How does Grain align with the larger industry landscape and what is its potential for growth?

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Grain provides comprehensive FX solutions to enhance travel platforms. We understand that within the travel sector, grappling with slim profit margins and elevated cancellation rates is commonplace. In response, Grain presents a pragmatic resolution through its embedded cross-currency framework.

One prominent industry practice involves hedging net amounts after accounting for cancellations. However, this strategy often falls short in providing comprehensive financial protection for travel platforms. Herein lies the differentiating factor of Grain – offering holistic hedging across all transactions, cancellations included.

Our approach not only fortifies travel platforms against FX risks but extends this safeguard to encompass their clients as well. This dual protective shield allows for the secure locking of currency rates, bolstering business stability for both parties.

Moreover, by leveraging Grain's FX proficiency, travel platforms can forego the need for supplementary price markups, fostering a heightened competitive edge.

Central to our offering is the Grain FX solution, enhanced by Machine Learning capabilities. This automated technology enables businesses to minimise the operational burden of tailoring, executing and managing&nbsp; hedging strategies. Grain’s solution fully offloads the entire FX hedging risk away from our customers. Grain provides full visibility of execution prices, via a user friendly dashboard, a transparent and comprehensive view of transaction currency exposure.

By revolutionising established norms for travel platforms, Grain envisions a landscape where attainable profitability coexists with mitigated currency fluctuations. Moreover, by addressing the intricacies of cancellations, we ensure that the financial resilience of both travel platforms and clients remains intact.

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What is your unique value proposition, and how does it set you apart from the competition?

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We differentiate ourselves from our competitors through various key factors which are central to our offering:

Hedging 100% of transactions - Conventional practices of hedging net amounts post-cancellations offer limited financial protection for travel platforms. In contrast, Grain provides complete hedging for all transactions, including cancellations, ensuring enhanced risk coverage.

Reduced Hedging Costs - Grain's automated platform empowers cost-efficient hedging compared to existing solutions, resulting in lower overall hedging expenses.

Localised Currency Charging - By locking in exchange rates at booking time, Grain enables travel platforms to bill end-consumers in their local currency, facilitating ease of transactions.

Pricing Optimisation - Leveraging extensive data analysis, Grain's API tailors hedge pricing based on individual customer profiles. This approach, informed by factors like historical currency trends and past cancellations, optimises pricing accuracy.

Zero setup costs, no hidden fees - Grain boasts a zero-cost setup and maintains a fee-free subscription model, ensuring transparency and cost-effectiveness from the outset.

Charge in local currencies. Get paid in functional currencies - Empowering software platforms and marketplaces, Grain allows them to charge customers in their preferred currency while receiving payments in their functional currency.&nbsp;

Risk-Free Assurance - Grain assumes the role of the principal risk taker, providing transactional rate guarantees for complete risk mitigation.

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Tell us about the innovative solutions that Grain offers!

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Grain’s Embedded Cross Currency Solution introduces a robust approach to FX risk management tailored for travel platforms. This solution is designed to address the challenges of FX volatility by providing a mechanism for travel platforms and their clients to lock in currency rates.

Powered by advanced Machine Learning technology, our solution offers an adaptive approach that considers historical trends and market dynamics. This ensures that travel platforms can implement effective hedging strategies that align with evolving financial landscapes.

Moreover, the solution incorporates a valuable side functionality known as Exposure Analysis. This tool offers a dashboard presenting transaction volatility, providing travel platforms with insights to make informed decisions about risk management.

The Embedded Cross Currency Solution is a pragmatic response to the complexities of currency fluctuations. By merging automated processes with intelligent analysis, it equips travel platforms with the means to confidently navigate FX volatility, offering stability and control in an unpredictable environment.

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Who is your target audience, and what are the specific needs or pain points that your offerings address? &nbsp;

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We have several target audiences, all with unique pain points which Grain seeks to resolve with its comprehensive technology and financial solutions.

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1. CFOs of Travel Platforms

Pain Points: CFOs of travel platforms wrestle with the persistent spectre of financial uncertainty propelled by FX volatility, a challenge compounded by the industry's slender profit margins. The imperative to secure revenue streams amid currency fluctuations remains a top priority.

How Our Solution Helps:&nbsp;

Enter our Embedded Cross Currency Solution, equipped with an automated hedging mechanism that empowers CFOs to lock in currency rates. This infusion of stability not only counters risk but amplifies financial assurance in the face of dynamic FX markets. Moreover, our Exposure Analysis tool further fortifies their position by delivering unparalleled transparency into FX volatility across all transactions.

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2. Heads of Product

Pain Points: Heads of Product grapple with the intricate choreography of optimising user experiences within multifaceted cross-currency transactions. The uphill task lies in orchestrating seamless booking and payment journeys harmonised with diverse currencies.

How Our Solution Helps:

Our offering, while indirectly assisting Heads of Product, empowers travel platforms to bill end-consumers in local currency through secure, locked-in exchange rates. This augmentation in user-friendliness and clarity significantly enhances the booking process, ensuring positive experiences.

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Tell us about Grain’s accomplishments and milestones. What are your current significant achievements to date?

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At Grain, our dedication to fintech innovation has earned us a position of distinction. We proudly stand as pioneers in the travel industry, and our journey has been marked by a remarkable achievement.&nbsp;

Out of a competitive pool of over 60 companies, we were selected as the sole fintech startup in the groundbreaking TravelTech Lab by Hotelbeds challenge. This recognition not only validates our unwavering commitment but also emphasises our role as leaders in reshaping the travel industry through cutting-edge fintech solutions.

We have forged strong partnerships with renowned global bed banks, empowering them with our embedded FX solution to safeguard both their operations and their clients from FX risk.

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Give us some insight into your company culture and brand values. How do you foster innovation, as a company?

Our brand values:

You Come First - We care about our customers. We are focused on providing value and helping our customers succeed.&nbsp;

You’re in Good Hands - We are experts in our field, we are passionate about what we do, and we are committed to protecting your interests.&nbsp;

We Dare to Do the Right Thing - We challenge the status quo in the pursuit of excellence to always provide the best solutions.&nbsp;

We Get Things Done - We are efficient and effective on our mission to simplify an overly complex world.

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A closer look at Grain’s unique solutions:

Discover more about Grain’s cross-currency solutions in this quick video.

https://www.youtube.com/watch?v=L-CiQ2DTxqc&nbsp;

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&nbsp;

TRAVELTECH LAB BY HBX Group

We explore the intersection of emerging technology and travel, to build innovative products and consumer experiences all whilst engineering solutions that advance Hotelbeds’ innovation agenda, and better the lives of our customers.

We’re firm believers that in a collaborative environment, it’s all about exploring new horizons to future-proof our business and drive digital transformation.

Learn more about our work here.

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Spotlight On Grain

Travel TechLab by HBX Group is the innovation lab of&nbsp;HBX Group, and powered by Wayra, which seeks to constantly re-imagine the world of travel by finding new ways to help our customers succeed and our business partners achieve their goals.

As part of our ongoing mission to co-innovate with startup partners in order to deliver impactful, customer-focused experiences, products and platforms which reshape the travel industry, earlier this year TravelTech Lab by Hotelbeds hosted a Pitch Day Challenge, where startups from around the world were invited to showcase the myriad, forward-looking ways their products and services are providing solutions to real-life challenges currently being faced within the industry.

In this ‘Spotlight On’ blog series, we’ll be shining the light of attention on each of the four start-ups that were shortlisted during this Pitch Day Challenge, to bring their work to the forefront of the travel industry’s focus.

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This time, we’re diving into the journey of Chekin, a promising start-up that has captured our attention thanks to its unique technological solutions which help professionals and hosts to optimise the entire process of vacation rental management, covering crucial stages such as: online guest registration, OCR scanner for guest ID, identity verification, sending data to authorities, customised rental contracts and digital signatures, upselling, tourist taxes, customised communications with guests, online payments, damage protection, remote access and much more. 

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Can you describe the genesis of the start-up, including the idea that sparked its creation?

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Chekin, a Sevilla-based startup founded in 2017, started on a mission to streamline the guest registration process within tourist accommodations. Its founder and CEO, Carlos Lagares, created Chekin from his years of property management experience with a clear objective: eradicate manual check-in procedures. 

The first version, named the "chekin app," allowed guests to complete online forms prior to arrival and simplified the creation of guest's registration report and mandatory legal documents. In line with Chekin's expansion, the company's portfolio grew to cover full automation of the entire process. The company started with a basic product, but surprisingly managed to attract more than 600 establishments in a short period of time. 

Despite its humble beginnings, the derivation of the word "check-in" to "chekin" resulted in a brand that strongly resonated in the global hospitality industry. Today, Chekin stands as a leading company, fundamentally reshaping how the hospitality industry navigates the complexities of guest check-in. Its innovative approach has enhanced guest experiences while empowering hosts to channel their efforts into exceptional service delivery and revenue maximisation. 

Driven by a bold vision to establish global dominance in all aspects of the check-in process, Chekin continues to make giant strides in the lodging sector. 

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Can you articulate for us Chekin’s mission and long-term vision, outlining the problems it seeks to solve and opportunities it presents?

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Mission:

At Chekin, our mission is to redefine and streamline the check-in experience for the lodging industry through our innovative online check-in solution. We are dedicated to enhancing guest satisfaction and operational efficiency for lodging businesses of all sizes. By offering a user-friendly platform that simplifies the check-in process, we aim to empower both guests and property owners, ensuring a seamless and personalised arrival experience that sets the tone for a delightful stay.

Vision:

Our vision at Chekin is to be the foremost provider of online check-in solutions tailored for the lodging sector, recognised for our commitment to excellence and technological innovation. We envision a future where every lodging establishment, from boutique hotels to large resorts, seamlessly integrates our platform to offer guests a contactless and efficient check-in process. By continuously evolving our technology and collaborating closely with our partners, we strive to shape the future of guest experiences in the lodging industry, setting new benchmarks for convenience, accessibility, and guest satisfaction.

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How does Chekin align with the larger industry landscape, and what is its potential for growth?

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Chekin meets the rising demand for automated check-ins in hospitality. With its versatile solution and a focus on guest satisfaction, time-saving, and legal compliance, Chekin has substantial growth potential in a thriving global hospitality market. Its comprehensive approach and automation align well with the evolving lodging landscape, positioning Chekin to shape the future of guest experiences in the industry.

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What is your unique value proposition, and how does it set your start-up apart from competitors?

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There is no standard solution that provides the enabling technology to automate the entire guest registration process, from booking confirmation till check-out. 

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Tell us about the innovative solutions or products that your start-up offers!

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- Check-in online: Once the reservation is confirmed, guests will receive a link that will lead them to online check-in, where they will complete the registration process. Easy, fast and simple. 

- Check-in onsite: Capture your guests’ data instantly through our OCR ID scanner. - Identity Verification: We offer you the most advanced biometric match technology, which will allow businesses to verify the identity of their guests remotely at any time. 

- Remote Access: Businesses will save hundreds of hours by not having to move to the property to deliver or collect the keys. 

- Legal: Once your guests have completed the online check-in, we generate the guest's registration slips and automatically send them to the competent authorities within 24 hours of the check-in date, as required by law. Chekin is the only one addressing the fragmented regulations of different countries. 

- Rental contracts and digital sign: We offer customisable leases for each property, allowing the addition of as many clauses as required. During online check-in, guests will be able to digitally sign the contract, which will be saved in the dashboard in the “Documents” section. 

- Upselling: Revolutionise the experience of each guest, increase the benefits of each reservation, get better reviews and get more direct reservations. 

- Tourist taxes: The calculation of tourist taxes is a complex and tedious process, and many parameters are involved that vary between regions and countries. Our software calculates them automatically. 

- Customised guest communications: Customise and create templates with all the information to be sent to guests. Choose when guests should receive these communications, and we will send them automatically.

- Online Payments: Manage and automate all guest payments from the Chekin dashboard.

- Damage Protection: The damage protection program provides peace of mind for businesses and their guests, while generating more income from each reservation. Chekin is the only one to address all check-in stages! 

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Who is your target audience and describe the specific needs or pain points that your offering addresses? 

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Our solutions can assist businesses within the lodging sector, from smaller to large-scale vacation rentals, hotels, camps, and other tourist accommodations worldwide. 

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Tell us about Chekin’s accomplishments and milestones. What are your current significant achievements to date? 

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* +22.000 properties that use us. 

* + 6.000.000 check-ins completed. 

* +20 implemented countries. 

* + 50 PMS and Smart lock solutions integrated. 



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Can you provide metrics or data to demonstrate the company's progress and impact? 

We achieved significant growth, from less than 50k to almost 80k MRR in one year, and despite the summer low season, our MRR continues to grow. Over less than a year we have increased the number of active properties in Chekin from 16K to 31K. 



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Give us some insight into your company culture and brand values. How do you foster innovation, as a company? 

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At Chekin, our approach to fostering innovation is deeply ingrained in our company culture. We recognise that innovation is not just about developing groundbreaking products and solutions but also about cultivating an environment where creativity thrives, and every team member feels empowered to contribute their ideas. 

Here's a glimpse into our strategy for fostering innovation: 

1. Encouraging Open Communication: We believe that great ideas can come from anyone, regardless of their position within the company. We encourage open communication across all levels, ensuring that every team member's voice is heard. Regular brainstorming sessions, idea-sharing platforms, and cross-functional meetings are a few ways we promote a culture of open dialogue. 

2. Embracing Diversity: We understand that diverse perspectives fuel innovation. Our team is composed of individuals from various backgrounds, cultures, and experiences. This diversity not only enriches our workplace but also leads to a broader range of ideas and solutions. 

3. Fail Forward Philosophy: Innovation inherently involves risk-taking and experimentation. We foster a "fail forward" philosophy, where failures are viewed as learning opportunities. This mindset encourages individuals to step outside their comfort zones, knowing that their contributions are valued even if they don't always lead to immediate success. 

4. Cross-Functional Collaboration: We break down silos and encourage collaboration between different departments. The synergy between teams with diverse expertise often sparks innovative solutions that wouldn't have been possible in isolation. 

5. External Partnerships: We actively seek partnerships with external organisations, startups, and research institutions to tap into a broader network of ideas and expertise. These collaborations help us stay at the forefront of innovation in our industry. 

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At Chekin, innovation is more than just a buzzword – it's a way of life. By fostering a culture that values creativity, collaboration, and continuous improvement, we empower our team to push boundaries, create meaningful solutions, and drive the company's success to new heights. 

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Meet the team at Chekin!: 

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&nbsp;

TRAVELTECH LAB BY HBX Group

We explore the intersection of emerging technology and travel, to build innovative products and consumer experiences all whilst engineering solutions that advance Hotelbeds’ innovation agenda, and better the lives of our customers.

We’re firm believers that in a collaborative environment, it’s all about exploring new horizons to future-proof our business and drive digital transformation.

Learn more about our work here, and visit the&nbsp;Chekin website&nbsp;to discover more about their offering.

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Spotlight On Chekin

The TravelTech Lab by HBX Group is the innovation lab of HBX Group, powered by Wayra, which seeks to constantly re-imagine the world of travel by finding new ways to help our customers succeed, and our business partners achieve their goals.

As part of our ongoing mission to co-innovate with startup partners in order to deliver impactful, customer-focused experiences, products and platforms which reshape the travel industry, earlier this year TravelTech Lab by Hotelbeds hosted a Pitch Day Challenge, where startups from around the world were invited to showcase the myriad, forward-looking ways their products and services are providing solutions to real-life challenges currently being faced within the industry.

In this ‘Spotlight On’ blog series, we’ll be shining the light of attention on each of the four start-ups that were shortlisted during this Pitch Day Challenge, to bring their work to the forefront of the travel industry’s focus.

As the third in the series we will consider the journey of BotsLovers, a promising start-up whose Conversational AI SaaS Platform caught our attention. We will explore their development from the nexus of their idea through to how they enable any company to implement AI-powered virtual assistants across any channel, using their user-friendly No-Code SaaS Platform, and therefore enhance business profitability and operational efficiency.

Founders Andrés Pulgarin and Simón Garcia walk us through the beginning of BotsLovers, their mission, and how they’re working to bring their solutions into the world of travel.

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Can you describe the genesis of the start-up, including the idea that sparked its creation?&nbsp; 

BotsLovers started as a result of a simple idea: ‘Freeing humans from boring tasks.’

In 2017, founders Andrés Pulgarin and Simón Garcia dedicated themselves to recruiting technological personnel, and soon noticed that during interviews, they were repeatedly asking the same questions to candidates. This realisation led them to explore the emerging AI technologies gaining prominence in the US, with the goal of automating parts of their interview process.

As they gained a deeper understanding of these technologies and recognised their vast potential, they also observed that many companies were engaged in repetitive and monotonous conversations with their users. Motivated by this insight, they embarked on the BotsLovers project, aimed at automating conversations. Their mission was to assist companies in streamlining their customer service operations, ultimately achieving a remarkable 90% reduction in customer service workload. 

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Can you articulate for us BotsLovers’ mission and long-term vision, outlining the problems that it seeks to solve?&nbsp; 

Simply put, as stated above, BotsLovers’ mission is ‘freeing humans from boring tasks’, and we do this with our Conversational AI Platform.

Our long-term vision is to become the global leader in Conversational AI for Customer Service. Revolutionising and transforming customer support into "Customer Love” and spearheading the new era of Generative Artificial Intelligence applications in the sector. Our impact will extend to any business which requires automated customer service and business operations.

The headline “Businesses Lose $75 Billion Due To Poor Customer Service” in Forbes galvanised our intent, and made it clear that the industry at large needed a solution like ours.

The main problem we are seeking to solve is the need for extensive human support in Customer Service. Fueled by Digitalisation &amp; eCommerce customers now expect quick and personalised multi-channel and multi-language interactions with businesses.

This problem stems from the rapid and substantial global growth of customer-business interactions across all digital channels: web, applications, and social. Companies struggle to address customer requests promptly, accurately, and 24/7, due to resource limitations, impacting customer satisfaction and brand reputation. 

By automating routine tasks, businesses can reduce the need for extensive human support, leading to cost savings and the reallocation of resources towards more strategic initiatives.

This problem was not solved earlier because companies relied on legacy Chatbots. On one hand, end-users struggled with chatbots because responses lacked context and appeared unnatural. 

On the other hand, companies (B2B Customers) struggled with chatbots for three reasons:


	Chatbots are tricky to install: It takes several weeks to set up and integrate a chatbot to any system and learn all its functionalities.
	Frequent optimisation and maintenance are necessary for chatbots' proper functioning, requiring constant manual updates to align with company changes. 
	Technical expertise in programming languages, NLP, and ML is essential for chatbot deployment, creating a barrier for businesses lacking in-house resources or budget for external experts.


We work to enable any company to effortlessly establish and deploy AI-powered virtual assistants across any channel (including web, apps, social media) and language. This can be accomplished without this technical expertise, which was previously holding some companies back, thanks to BotsLovers’ user-friendly No-Code SaaS Platform.

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How does BotsLovers align with the larger industry landscape and what is its potential for growth?

By leveraging Generative Artificial Intelligence, we are revolutionising the traditional and impersonal customer support landscape, ushering in a new paradigm we call: "Customer Love". This transformation will lead to cost savings, increased customer satisfaction, and higher employee engagement

We face a huge potential for growth. Markets &amp; Markets Research has valued the World Wide Virtual Assistant/Chatbot market to be USD 5,4 billion in 2023.&nbsp; With a CAGR of 23,3% this market will reach USD 15,5 billion by 2028.

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What is your unique value proposition, and how does it set you apart from the competition?

What sets BotsLovers apart from competitors is our AI-first approach. Our Conversational AI platform is No-Code, multichannel and multi-language. Additionally, BotsLovers has a unique Large Language Models balancer for GPT-related cost management plus advanced specific industry data models.

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Tell us about the innovative solutions that BotsLovers offers!

Our core product is a Conversational AI SaaS No-Code Platform that:


	Addresses customer requests quickly, accurately, and 24/7 - in any language or digital channel.
	Allows any company to easily setup &amp; deploy AI-powered virtual assistants without tech knowledge.
	Respond to customer requests using Generative AI fine-tuned with companies' own data, sourced from websites, PDFs, images, audio and more.
	Drastically reduces the cost per response.


To demonstrate the potential of our technology, we have developed lovi.ai a demo site enabling the creation of a customised virtual assistant in under 30 seconds, using a company's own data.

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Who is your target audience, and what are the specific needs or pain points that your offerings address? &nbsp;&nbsp;

There are a number of target audiences who we believe find the solutions that BotsLovers provide inherently valuable:

Small to Large Businesses

We consider this audience to include small businesses that lack the resources or technical expertise to develop their own AI-powered virtual assistants; medium-sized enterprises looking to scale their customer support without significantly increasing costs; and large corporations aiming to streamline and automate customer interactions across various digital channels.

Customer Support and Service Departments

For example, customer support teams seeking to enhance their efficiency and responsiveness, and companies looking to reduce the workload of their customer support staff and allocate resources more effectively.

E-Commerce Companies

Including the likes of E-Commerce businesses dealing with high volumes of customer inquiries, especially during peak seasons, and companies needing to provide 24/7 customer support to a global customer base in multiple languages.

Multinational Corporations

These could be large enterprises with a global presence that require multilingual support and consistency in customer service across regions.

Startups and Innovators

Such as tech startups looking to incorporate AI-powered virtual assistants into their products and services without the need for extensive technical knowledge.

&nbsp;

In terms of specific pain points, we feel that BotsLovers addresses these unique needs in several ways.

24/7 Customer Support: Our platform enables businesses to provide round-the-clock customer support, addressing the pain point of customers needing assistance outside regular business hours.

Multilingual Support: Companies operating in diverse regions can efficiently communicate with customers in their preferred languages, eliminating language barriers.

No-Code Setup: For businesses without technical expertise, our No-Code platform allows them to easily set up AI-powered virtual assistants, reducing the need for costly development resources.

Cost Reduction: By automating responses and handling a significant portion of customer inquiries, our platform helps companies cut down on the cost per response, making customer support more cost-effective.

Data Utilisation: Leveraging companies' own data, as well as data from various sources, our Generative AI provides accurate and context-aware responses, addressing the challenge of personalised customer interactions.

Efficiency and Scalability: Companies can enhance the efficiency of their customer support teams by automating repetitive tasks, allowing them to scale without significantly increasing staff.

Accuracy and Consistency: Industries with complex information benefit from accurate responses, ensuring compliance, and consistency in communication, which can be challenging when relying solely on human agents.

Digital Channel Support: Our platform allows businesses to engage with customers on various digital channels (e.g., websites, social media, messaging apps), meeting customers where they are most comfortable.

Overall, our Conversational AI SaaS No-Code Platform addresses the growing need for efficient, cost-effective, and personalised customer support solutions across diverse industries and business sizes.

&nbsp;

Tell us about BotsLovers’ accomplishments and milestones. What are your current significant achievements to date?

We consider our accomplishments to be multi-faceted, and on many differing levels, though a few of our most significant and impactful achievements are as follows: 

Customer Base:

Our early users and customer base started with 10 paying customers by the end of 2019. From there, we grew to 15 customers in 2020, 40 customers in 2021, and 45 customers by the end of 2022

Nowadays, 80% of our actual revenue comes from enterprise customers such as Carrefour, Auchan Group, and Mercadona. Moreover, prestigious companies like Siemens AG, Porsche, Volvo, Telefonica, Cabify, Netflix, and Meta's Facebook have also become BotsLovers customers

Pilots: 

We developed pilot projects with Telefonica in Spain and Airbus in France and we are about to develop a pilot with Hotelbeds, a global travel industry leader.

Partnerships:

We have acquired a number of prestigious partnerships including Meta Creative Labs Partner, Telefónica Open Future Partner, and Google for Startups.

Awards:

BotsLovers has been recognised several times, most notably as SeedRocket Start-up of the Year and for the Airbus Biz Lab Accelerated Start-up award.

&nbsp;

Give us some insight into your company culture and brand values. How do you foster innovation, as a company?

At BotsLovers, fostering innovation is at the heart of our mission. We believe in a multi-faceted approach that encourages creativity, collaboration, and continuous learning. Our innovation strategy begins with a culture that values and rewards creative thinking, empowering our talented team to explore new ideas fearlessly.

We actively engage in ongoing research and development, staying at the forefront of Conversational AI and emerging technologies. Collaboration is key; we cultivate partnerships with industry leaders, universities, and startups to leverage diverse perspectives and expertise. Lastly, we foster a customer-centric mindset, closely listening to our clients' needs and feedback to drive innovation that delivers real value to their businesses.

&nbsp;

&nbsp;

TRAVELTECH LAB BY HBX Group

We explore the intersection of emerging technology and travel, to build innovative products and consumer experiences all whilst engineering solutions that advance Hotelbeds’ innovation agenda, and better the lives of our customers.

We’re firm believers that in a collaborative environment, it’s all about exploring new horizons to future-proof our business and drive digital transformation.

Learn more about our work here.

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Spotlight On BotsLovers

Here at Hotelbeds, we believe that we can transform travel into a force for good.

We want to ensure that the travel industry continues to thrive, without compromising the travellers of the future, and ensuring a positive impact on society and the environment. That is why today, on World Tourism Day, we want to remember the responsibility we each share: as travellers, companies, public institutions and so forth, it is our duty to take care of our planet and society. We fully support the United Nations World Tourism Organisation’s (UNWTO) themes for 2023 ­– Tourism and Green Investments, and Investing in People, Planet and Prosperity.

Sustainable travel is growing worldwide – we saw a 30% increase in the year to April versus the previous 12 months – and we all want to keep exploring: to see nature, enjoy clean beaches, and explore the vibrant colours of our world both on land and under water. From visiting temples and ancient cities, to enjoying gastronomy, watching wildlife and meeting happy people in the countries we visit, travel can be a truly enriching experience for all parties involved.

With travel and tourism accounting for more than 8.5% of global GDP in 2022, it’s an important, and growing, economic driver. On World Tourism Day, we want to remember the responsibility of every company, public institution, and traveller to be more sustainable. And although we have much more to do, we’re making many positive steps to ensure we look after the planet for generations to come. Our small acts have a much greater impact when combined, with the ability to make a profound and positive impact on our world. 

As companies, we have the power to transform faster. We must harness our loudspeaker, our entire value chain, to drive change towards becoming a more sustainable sector. Tourism offers very good things to our society, to the economy, and to the improvement and development of local communities. It also helps to give value to the culture of each country, and to its nature and heritage. But at the same time, this can be a double-edged sword if sustainable growth is not ensured. 

Companies must change their approach and be more aware of the risks in the long term. It is the responsibility of all us in the travel industry to contribute towards shaping a better world, particularly in terms of green investments and prosperity. With a roadmap in place, we will continue to deliver against our commitments, whilst also supporting the ambitions of our clients and partners. Together, our impact can be long-lasting, far-reaching, and sustainable for all.


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World Tourism Day 2023: Embracing Sustainable Travel

On behalf of the global Hotelbeds team, I would like to extend a warm New Year’s welcome to our clients, partners and friends around the world.

2022 was a year unlike any other for our industry: from a considerable rebound in the first half of the year to the economic uncertainty currently impacting the daily lives of would-be travellers, navigating the past 12 months has required a great deal of tenacity. However, I am pleased to report that 2022 was indeed a fantastic year for Hotelbeds.

Of course, this success – and, by association, the support that we are committed to delivering to you – would not be possible without our dedicated teams located in every corner of the globe. Their passion and expertise, combined with our rich data and technology solutions, remain the driving force behind all that we do, and we thank them for their unceasing efforts.

Additionally, we recognise that it is the responsibility of everyone in our industry to become a force for good. Thank you to those who have committed to joining us on this journey, including the partners making a pledge to go plastic free, and the clients who champion sustainable stays. I’m also grateful once more to our amazing teams who dedicated much of their time to volunteering; similarly, the recent introduction of our tree planting project with Tree Nation has been met with much enthusiasm from our people and partners, and we look forward to seeing these reforestation efforts coming to fruition.

With aspiration, dedication and positivity, I am without doubt that 2023 will be a tremendous year for all those who are a part of the Hotelbeds family. Thank you for your partnership.

I wish you a wonderful 2023.

Nicolas


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New Year Message From Hotelbeds CEO, Nicolas Huss

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