Next-generation hospitality company Qstay Hospitality Technologies (“Qstay” or the “Company”) has closed a $6.5 million SEED round. Debt and equity were both used in the funding round. Artur Khayrullin, Ekaterina Rogozhina, Alec Fesenko, and Natalya Fesenko are the co-founders of Qstay, which had its official launch in 2020.
Since its inception, Qstay has aspired to revolutionize the hospitality sector by providing exciting, intelligently built accommodation along with cutting-edge, technology-driven service.
As a virtual hotel brand, Qstay offers upscale hotel-style services and amenities like bathrobes, slippers, luxury toiletries, bathroom amenities, tea, and Starbucks coffee. For guests staying in beachfront properties, Qstay also offers digital app-based access to nearby pools, beaches, gyms, and spas.
Artur Khayrullin, the founder and CO-CEO of Qstay, said: “Driven by QSTAY’s differentiated digital service model, the Company can reduce operating costs by as much as 50% compared to traditional hotels. Through innovative technology, additional digital services such as mobile-based access to the facilities of top beach resorts and thoughtfully designed accommodations, QSTAY is revolutionizing the hospitality industry.”
The company leases out massive numbers of residences in prime locations, upgrades and furnishes them to a high standard of luxury, and supports them with numerous luxury hotel-like services and amenities. As a result, visitors receive beautifully constructed accomodation at reasonable rates on a nightly, weekly, or monthly basis. The company states that, although not owning any of its units, all of them are directly leased and managed by Qstay, and it also provides 24/7 text-enabled concierge service.
Alec Fesenko, Co-Founder and CO-CEO of Qstay, shared: “Our raise underscores the strength of the business and the rapid shift taking place within the hospitality industry due to technological innovations. Our vision for travel is making beautiful, well-designed spaces accessible to everyone with technology while providing exceptional mobile app-based add-on services.”
Currently, Qstay is creating a unique, technology-driven platform that will offer seamless booking, digital concierge, and a unified, on-demand platform for maintenance and servicing. In the coming future, Qstay intends to keep investing in technology, broaden its reach, and expand its product selection in order to improve the guest experience and provide its investors, real estate partners, and visitors with even more benefits.