hovelstay.com, a Los Angeles based startup that lists inexpensive and interesting places to stay for traveling college students, announced today that it has secured $1.2 Million US in Series A Funding. Private investors in London and Dubai lead the funding.
hovelstay.com allows the traveling student to find simple, sometimes unconventional, yet often affordable lodging while giving Hovel Hosts a chance to monetize free space.
- All listings are priced under $99 USD.
- Hovels are conveniently located, catering to the college student’s lifestyle and budget.
- A verifiable .edu email address is required to register on hovelstay.com in order for a student to book a space, offering more security to a property owner through verifiable means.
- Students may stay at a hovel for a day, week or semester.
- Students are encouraged to share their experience and network within their community.
- hovelstay.com is completely free to list, charging hosts only 3% of the booking fee, and a 3% fee to students for merchant processing.
- Many hovels are completely unique and will provide a memorable experience for any student who books that particular space.
- hovelstay.com is providing for an introductory rate, charging property owners only a 1% fee on each booking from now until February 1, 2015.
“We really wanted to be the anti-luxury vacation rental site. Two of us who had years in the vacation rental business were always floored at how serious a lot of these vacation rental sites took their properties, describing them as luxury when in fact they weren’t. So we decided on the approach of full disclosure – if it’s a dump, we would love to have it, and students are in on this kind of experience. It’s not just where you stay, its what happens when you stay there. The same experience as when you backpack through Europe during a summer break – you’re willing to sleep on a bale of hay inside of a barn in Germany to save money. That’s what we are selling. But, to be on the safe side, we do have some cool luxury listings, too.” Michael Bolger, CEO/ Co-Founder of hovelstay.com.
