Recharge, The Hotel App That Offers Luxury Hotel Bookings by the Minute, Debuts in New York City & Expands Inventory in San F...
April 24 2017 - 6:00AM
Business Wire
JetBlue Technology Ventures makes strategic
investment to support growth
Recharge, the on-demand mobile app that allows users to book
luxury hotel rooms by the minute, today announced its debut in New
York City, with 16 luxury NYC hotel offerings including The Pierre,
W New York, The Knickerbocker and 1 Hotel Central Park, among
others. The company also recently expanded in the San Francisco
area, now offering 15 luxury and premium hotel properties,
including 5-star hotels like Taj Campton Place and W San Francisco,
and airport hotels like The Westin SFO and Aloft SFO.
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Additionally, in support of Recharge’s rapid growth in these two
major U.S. markets, the company also announced a strategic
investment by JetBlue Technology Ventures, a subsidiary of JetBlue
Airways (NASDAQ:JBLU).
Since the company’s 2016 launch in San Francisco, Recharge has
quickly become the on-demand platform of choice for business
travelers, on-the-go families, local commuters and red-eye fliers
looking for a more convenient and personalized third-space between
work and home. Recharge allows people to book flexible-length stays
at luxury four- and five-star hotels, while only paying for the
time they need. There is no minimum stay requirement for guests
using Recharge, but the average guest stay is approximately two
hours. Recharge rooms start at $0.66/min and can range to $3/min
depending on the hotel.
Recharge is rethinking the traditional hotel model, which
originally assumed that the majority of hotel guests occupy rooms
from 6pm-9am each day, leaving a large amount of inventory vacant
during daytime hours. With Recharge, hotels are able to convert
daily vacancy into occupancy levels that consistently reach over
100 percent. Current hotels have found that by implementing
Recharge and allowing users to book a room at their convenience, a
250-room property can complete nearly 275-rooms’ worth of revenue
in one day.
“We’re fortunate to have seen 800% year over year growth in San
Francisco and overwhelming customer loyalty, with more than 75
percent of stays coming from return bookings,” said Emmanuel Bamfo,
CEO and co-founder, Recharge. “We believe there’s an immense
opportunity in the hospitality industry to optimize hotel room
vacancy and are excited to start offering travelers with flexible
access to high-end hotels across New York City.”
Recharge’s innovation in the hospitality space has attracted
multiple investors, including Binary Capital, Floodgate, ENIAC,
Expansion VC and the Banisters. Now, JetBlue Technology Ventures
brings deep domain expertise in hospitality, travel and the airport
hotel ecosystem to Recharge.
"There's nothing like a truly private spot to settle and refresh
yourself after a long trip, but renting a hotel for a full night
just for a bit of calm ahead of an important meeting during a day
trip isn't always reasonable,” said JetBlue Technology Ventures
Chairman Eash Sundaram. “We're excited to work with Recharge
to rethink how hotel brands we already know and trust can optimize
their vacant rooms. Finding easy ways to rent the unused space for
shorter periods of time is great for travelers, local commuters,
and families alike while creating new revenue streams for
participating hotels."
“JetBlue Technology Ventures grew out of the belief that many
aspects of the travel and hospitality industry could be completely
reimagined,” said JetBlue Technology Ventures President Bonny Simi.
“With Recharge, we can envision a new kind of experience for
travelers who want a quiet place to relax and refresh after long
flights or during layovers -- easy and flexible access to
accommodations that otherwise sit unoccupied.”
“The hotel industry has, for some time, been ripe for an
unconventional take on the traditional business model,” Tom Storey,
former President, Fairmont Hotels & Resorts added. “Through my
previous work and business travel, I know first-hand that the hotel
industry has the perfect supply for an unmet consumer demand of
private spaces in convenient locations. Recharge has been able to
create a seamless connection between hotels and their customers and
one that is beneficial to both parties.”
About Recharge
Recharge is a mobile application that allows people such as
business travelers, local commuters, on-the-go families, and
red-eye fliers to book upscale, luxury hotels and pay by the minute
to use at their convenience. Currently operating in San Francisco
and New York City, Recharge partners with 30 four-and five-star
hotels. Founded in 2015, Recharge is based in San Francisco. To
learn more, visit Recharge.co. To download the app, visit
Recharge.co/app.
About JetBlue Technology
Ventures
JetBlue Technology Ventures invests in, incubates and partners
with early stage startups at the intersection of technology, travel
and hospitality to improve the entire travel experience. The
company prioritizes investments that advance the
customer-centric journey; technology empowered customer service;
the future of operations and maintenance; revenue management, sales
& distribution; and new regional transport ecosystems. Founded
in 2016, JetBlue Technology Ventures is a wholly-owned subsidiary
of JetBlue (NASDAQ: JBLU) and is located in Silicon Valley, Calif.
For more information, visit JetBlueVentures.com.
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For Recharge:Alex Doniach,
415-345-4774adoniach@theoutcastagency.comorRachel Silverman,
646-779-3350rsilverman@theoutcastagency.com
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