Birmingham based business and Finance advisors Blue Sky Corporate Finance have assisted MyHotelUpgrade Limited (MHU) to secure £125K SEIS funding provided by two Midlands based high net-worth individuals. The funding will enable MHU to complete their final development phase and to launch the global mobile App.
MHU enables guests who have already booked rooms at a particular hotel the opportunity to buy upgrades for a reduced incremental cost to enhance their stay. With the average room occupancy for hotels globally at 70% per annum, potentially 30% of hotel rooms remain empty, the majority of which are the luxury rooms. The MHU app enables guests to benefit from discounted hotel room upgrades whilst providing hotels the opportunity to resell the newly vacated standard rooms through their normal distribution channels.
Dublin based MHU founder Matthew Maxwell stated: “Blue Sky’s extensive knowledge in the UK corporate and funding arena was fundamental to us being able to achieve our goal. Blue Sky ensured we fully understood the process at each step of the way so we were able to make informed decisions. Their help, advice and support through the whole process was instrumental in us gaining the positive outcome we achieved. ”
Tony Seaton, Associate Director, Blue Sky Corporate Finance commented: “We fully understand the challenges businesses like MHU face in their early development years and are delighted to have advised Matthew on securing the required funding to facilitate their development and implementation plans. We are excited by the growth potential this business holds and look forward to providing them with the business and financial support and services they will need to ensure their continued success.”