Pace
Uses machine learning to let hotels set room prices dynamically based on demand.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor investor investor investor investor | €0.0 | round | |
£2.0m Valuation: £11.5m 33.9x EV/Revenue | Seed | ||
| Total Funding | 000k | ||
| EUR | 2018 | 2019 | 2020 | 2021 | 2023 |
|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 100 % | 11 % | 17 % | - |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates, Company filings or news article
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Pace, operating under the umbrella of FLYR Hospitality, provides a real-time, automated pricing platform for the hotel industry. The company was founded in 2016 by Jens-Peter Behrens, Jason Pinto, and John-Paul Clarke with the goal of applying data science to revenue management for hospitality businesses. The founding team combines expertise in data science, commercial strategy, and software engineering. Jason Pinto, for instance, transitioned from a career in investment banking to technology, holding roles at companies like HotelTonight and Lastminute.com before co-founding Pace. This background in both finance and travel tech shaped the company's data-driven approach to pricing.
The core of Pace's offering is a platform that uses machine learning to analyze historical and real-time market data, enabling hotels to optimize their room prices dynamically. This system moves away from traditional, often manual, methods of setting prices based on static rules. Instead, it continuously adjusts pricing recommendations in response to changes in demand, competitor pricing, and other market signals. The platform is designed to serve a range of clients, from independent boutique hotels to larger hotel groups, helping them to maximize revenue and occupancy rates. The business model is based on a monthly subscription, with different tiers of service available.
In a significant development for the company, Pace was acquired by FLYR Labs in October 2021. FLYR Labs, a company specializing in revenue optimization for the airline and transportation industries, saw the acquisition as a way to expand its artificial intelligence-powered platform into the hospitality sector. Following this event, Pace began operating as FLYR Hospitality, integrating its technology and team into the broader FLYR organization to create a more comprehensive revenue management solution for both airlines and hotels.
Keywords: revenue management, hotel pricing, dynamic pricing, hospitality technology, data science, SaaS, machine learning, price optimization, travel tech, property management system