Consolidating its positioning on the business travel and confirming investor support, the short-term apartment rentals MagicStay.com announces a intermediate fundraising of more than 1 million Euros. Charles Petruccelli, former World President of the American Express Company’s Travel division joins theAdvisory board of the start-up.

With less than three years to go, the MagicStay platform aims to accelerate its development with the support of new private investors. The only short-term rental site dedicated exclusively to business travellers, MagicStay offers more than 50,000 selected accommodations and will reach 100,000 apartments by the end of the year. The platform stands out with its many services designed for businesses and travelers, such as the e-concierge app, the Travel Manager Tool, the loyalty card and especially the
Trustay®
approach.

To increase its penetration with businesses and travel agencies, MagicStay surrounds itself with an Advisory Board made up of recognized shareholders in the business tourismsector. In addition to Charles Petruccelli, Peter Hazelzet,former CEO ofExposium and Benoît Bassi,President of Bridgepoint in France,will contribute to the acceleration of the start-up.

Recognized as one of the specialists in business travel, Charles Petruccelli was for 10 years president of the travel division of American Express Company. Today, as president of CJP Consulting, a strategy consulting firm, he invests and invests in promising start-ups like MagicStay. He has served on the boards of several major companies and is the founder and former president of GTTP, an association of several leaders from major global tourism industry groups.

“The 100% BtoB positioning of MagicStay appealed to me because it meets the specifics of the business travel market. With the Trustay® approach, and travel policy optimization tools, MagicStay.com integrates business issues: economy and traveler safety. Finally, the selection of apartments and the concierge service ensure the comfort of the traveller”” charles Petruccelli announces, before adding “Undeniably, this type of accommodation is leading to strong growth in companies in the coming years.”

“Designed from the start to facilitate the accommodation of professionals on the go, especially at major international events, MagicStay has real development potential thanks to its unique positioning, the quality of its B2B offering and services,” adds Peter Hazelzet..

“Among the platforms of the collaborative economy, MagicStay makes a difference by occupying a niche and bringing real added value” concludes Benoît Bassi.

The start-up now aims to accelerate its international development. MagicStay was selected to present its solution to international business travel professionals at the Travel Innovation Conference, PhocusWright in Los Angeles from November 14-17.

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