According to the forecasts issued by the United Nations World Tourism Organization (UNWTO), global tourism could be set to enjoy double-digit growth in 2021 and 2022 (after the coronavirus pandemic subsides, of course). Investors see the situation similarly: The travel start-up GetYourGuide has successfully raised new financing of 114 million euros as part of a convertible bond issuance. This financing round was led by Searchlight Capital, as detailed in a press release. In addition, a consortium of existing investors in the start-up also provided fresh capital.
GetYourGuide operates an eponymous booking platform for its customers, via which tours and activities on holidays around the world can be reserved and paid for. The start-up is now adapting its service portfolio in line with the changing needs of vacationers in the wake of the coronavirus pandemic, the press release explains. Among other aspects, hygiene standards are to be improved.
“As the global tourism industry prepares to rebuild, GetYourGuide’s mission to give the whole world access to incredible experiences matters more than ever. This new financing is a vote of confidence in GetYourGuide's readiness to lead the recovery of global tourism”, comments Johannes Reck, CEO and co-founder of GetYourGuide, in the press release.
GetYourGuide was established at a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH). The company’s headquarters are presently located in Berlin, although GetYourGuide does also continue to operate a major office in its home city of Zurich.
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