The Ledger
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Soto: Guesty customers grow their property count 5x in year one
“Almost all of our customers, the average they grow in one year is more than five X.”
Soto: Property managers slow growth around 300 properties due to multi-city expansion
“We definitely help a lot of companies grow to the three hundred-ish size, and then they slow down a bit because they need to start spreading into different cities, and that's a different operation skill that they need to develop.”
Soto: Guesty generates 6x to 30x LTV to CAC returns
“And we found out that we make more than six to sometimes even as much as 30 X on our on our type of customers depends on their size.”
Soto: Guesty's larger customers pay back CAC within one to three months
“So for us, it depends on the size of customers, but the medium and large ones pay back within a month to three months as a late.”
Soto: Over 600 niche software tools fragment the short-term rental market
“Well, you know, this industry is still super fragmented. There are more than 600 different software tools but all of them are focused on niche specific solutions.”
Soto: Average Guesty customer manages 50 properties, ranging up to 2,000
“The average will be a 50 properties property manager. We have as low as five and we have as big as 2000, right?”
Soto: Guesty charges property managers 2% to 5% per reservation
“It's percentage based, as I mentioned... Of the reservation. So each reservation could be a thousand dollars and then you'll pay us somewhere between two and five percent.”
Soto: Short-term rental property managers average a 20% fee payout
“Our customers are property management companies who do short term rentals and the average payout for property management companies is about 20%. There are some companies that go as much as 35 or even more.”
Soto: Guesty manages north of 50,000 properties, approaching 100,000
“Tens of thousands of properties north of 50,000 closer to the hundred ish.”
Soto: Property management software retention requires owner revenue tracking tools
“Whenever you give your own owner a tool that they can see their reservations, they can see how much money they're making, they can log in to change their occupancy or availability of their property, you cannot take that away from them.”
Soto: Guesty experiences 1% to 2% monthly revenue churn
“So we are between one and two percent in months.”
Soto: Guesty raised $20M Series B in April 2019, totaling $25M
“So we were Y Combinator backed back in winter 14 class. And right afterwards we raised 1.6 million as our seed. Then we raised three million as our A and only now we raised twenty million in, in April in series B.”
Soto: Guesty relied exclusively on inside sales before opening field offices
“Until now we were only inside sales.”