We're dropping commission for good - your chance to help make this happen
With nearly 13,000 accommodation providers registered and more than 10,000 users signed up, now is the time to grow. To do this, we are raising £4.5m to get to a fast growth stage and incorporate other travel services to create a membership as essential to travellers as Amazon Prime is to shoppers. First and foremost, we remain accommodation-led, and are offering our accommodation providers the first opportunity to invest in Hotel Bonanza. At this stage we are raising the first £250k at a valuation of £1.35m. However, to reflect how much we want our accommodation providers to be part of our journey, we have been offering you the opportunity to purchase shares at a reduced valuation of £1m. We allocated £125k to accommodation providers at the reduced valuation and due to high demand we are extending this. The minimum investment is just £100 and all UK-based investors benefit from our EIS status, which means you get 30% of your investment back.
Q. What do I get for my investment?
A. A stake in a business that is going to remove all commission costs for accommodation providers by creating a customer membership that guarantees the best prices online.
Q. How do I invest?
A. For further information, please request our investment documents, which will be sent to you immediately. More detailed documents are available. If you are ready to invest, please click the Invest Now button. All investors will be required to sign an agreement on our SeedLegals platform.
Q. What problem is solved by Hotel Bonanza?
A. Accommodation providers pay up to 30% commission to the likes of Booking.com and Expedia.com, which is having a serious impact on profits. Consumers are misled by disingenuous discounts, and there is a general lack of transparency that often means they are paying more than they think. Hotel Bonanza is scrapping all commission charges while asking accommodation providers to match their lowest available online prices, excluding their own websites. On top of that, Bonanza Club members get a minimum 5% extra discount, as well as incentives offered by the accommodation providers.
Q. How do you become a Bonanza Club member and what do you get?
A. Once you register to become a Bonanza Club member, you get access to Hotel Bonanza prices and receive a minimum 5% discount over and above the lowest available price online. Once you make your first booking, you enter a 30-day trial period, and then membership costs £10 per year. Our commitment to remove commission for accommodation providers is principally to try and bring downward price pressure to booking costs so that there will be incentive to reduce prices and offer members extra discounts. We also want to incentivise properties to sign up with us in what should be a virtuous cycle of lower prices and greater value for everyone.
Q. Do you have EIS?
A. Yes. All UK investors are entitled to EIS, which gives you 30% of your investment back.