All-Hotels Limited, the definitive online hotel service company, has announced its third quarter results and the completion of £3 million in a second round of funding.
The principal investor is Europe`s leading venture capital company, 3i, alongside The Royal Bank of Scotland and Scottish Equity Partners, both of which invested in All-Hotels at the first round of financing.
All-Hotels continues to go from strength to strength as demonstrated in its third quarter and year to date performance. Total sales for third quarter 2000 exceeded $3 million bringing the year to date total sales to over $8 million. Over 120,000 room nights have been booked through All-Hotels` website, www.all-hotels.com during 2000.
Robin Winning, 3i Investment Manager said, “All-Hotels has clearly demonstrated it can compete globally in online travel, the most successful marketplace on the Internet and is well positioned to lead the on-line hotel market. The company has created tools that serve the e-commerce needs of consumers and hoteliers alike.”
In addition to its website`s strong performance, All-Hotels also launched two new products during Q3 2000: a-Res, the proprietary software package enabling hoteliers to receive online bookings and manage their room inventory online and a-Book, All-Hotels` database inquiry system that allows customers a faster and more specific search for a hotel on www.all-hotels.com and the websites of its partners and affiliates. All-Hotels, also unveiled its hotel business solutions website, www.all-hotels.org which enables hotel customers to access a-Res, supplier directories, industry news, trends and developments, job availability, marketing opportunities and an on-line chat room.
Remarking on the funding, Jane Karwoski CEO, All-Hotels said, “We are very pleased to have received the new funding. It will help us in meeting the growth targets we have set for ourselves. The current finance raising market is particularly difficult for Internet companies because investors are taking a critical view of the sector. This latest stage of funding confirms our position as a strong player in the industry.”
Karwoski, commented, “We are pleased to announce the continued growth of our company. One of our goals during the quarter was to prove that we are more than Jane Karwoski Chief Executive Officer, All-Hotels Ltd Jane joined All-Hotels in April 2000 bringing 18 years experience in growing technology businesses on both sides of the Atlantic. Prior to joining All-Hotels, Jane was Finance Director at Axis-Shield plc, a quoted life sciences company with a market capitalisation of approximately £400 million. While at Axis-Shield, Jane was responsible for raising £40 million, acquiring three international companies, and entering into several important strategic and commercial partnerships. She was voted Scotland`s Business Woman of the Year 1998.
All-Hotels, established in 1998 and based in Edinburgh, Scotland, provides Internet based facilities for both hoteliers and the online travel consumer. Currently, All-Hotels primary source of revenue is derived from its all-hotels.com website, which provides online reservation services to the travel consumer. The site, launched in 1998, is linked to nearly 60,000 hotels worldwide. All-Hotels offers the most comprehensive selection of online bookable hotels to consumers worldwide.
It is estimated that by 2003, the market for online travel is expected to exceed $16 billion, up from the $6.5 billion generated in 1999, with over 25% of the online travel market coming from online hotel bookings.