Having consolidated its position on the business travel market and confirmed the backing of investors, the short-term apartment rental platform MagicStay.com announces that more than 1 million euros has been raised. Charles Petruccelli, the former world-wide president of the travel division at American Express Company has joined the Advisory Board of the start-up.
Three years since its launch, the MagicStay platform aims to fast-track its development with the backing of new private investors. As the only website exclusively dedicated to short-term business travel, MagicStay offers more than 50,000 selected rentals and will reach 100,000 apartments by the end of the year. The platform stands out due to its numerous services designed for businesses and travelers, such as the e-conciergerie app, the Travel Manager Tool, the loyalty card and, most notably, the Trustay® approach.
To strengthen its presence among businesses and travel agencies, MagicStay is supported by an Advisory Board of shareholders who are renowned in the business tourism sector. Alongside Charles Petruccelli, Peter Hazelzet, former CEO of Exposium and Benoît Bassi, President of Bridgepoint in France, will lend their support to the fast-track development of the start-up.
Widely regarded as an expert in business travel, Charles Petruccelli was president of the travel division at the American Express Company for ten years. At present, as the president of CJP Consulting (a strategic consultancy firm) he focuses on and invests in promising fledgling start-ups such as MagicStay. He has sat on the board of several large companies and is the founder and former president of GTTP, an association gathering the leaders of various global players in the tourism industry
“The 100% b2b approach of MagicStay appealed to me because it meets the specific requirements of the business travel market. Through the Trustay® approach and the optimization tools for business policy, MagicStay.com reflects the challenges that businesses encounter, such as competitive pricing and traveler safety. Moreover, the choice of apartments and the conciergerie service safeguard the well-being of the traveler.” states Charles Petruccelli, before adding “Without a doubt, this type of accommodation will experience significant growth among businesses over the coming years.”
“Designed from the beginning to facilitate the accommodation of business travelers, especially during major international events, MagicStay has a real development potential thanks to its unique positioning, the quality of its offer and its B2B services” adds Peter Hazelzet.
“Among the collaborative economy platforms, MagicStay makes the difference in occupying a niche and by bringing real added value,” concludes Benoît Bassi.
The start-up now aims to accelerate its international development. MagicStay has been selected to present its solution to international business travel professionals at the conference dedicated to innovation in travel, PhocusWright in Los Angeles 14-17, November.