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Qstay secures over $4.5m investment, to reach new markets by 2026

Qstay secures over $4.5m investment, to reach new markets by 2026
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UAE – Mubasher: Qstay, a Dubai-based hospitality and rental investment property management platform has raised $4.60 million in a pre-Series A funding round that brought the total amount secured by the company to $11.10 million.

The UAE firm currently covers nine markets in four countries in which it operates more than 300 properties, with plans to add additional markets between 2024 and 2026, according to a press release.

Qstay’s latest investment was secured through conventional and convertible debt, which will boost the projections of $63 million in revenue by 2025 and an 18% EBITDA margin. The platform leverages AI-powered customer service and digital concierge services to endorse the guest experience while cutting operating costs by up to 50%.

Co-Founder of Qstay, Artur Khayrullin, said: “We are thrilled to have secured this additional funding, which will enable us to accelerate our growth and continue to innovate in the hospitality sector.”

Khayrullin noted that the latest funding is “a testament to the strong market demand for our tech-centric, design-led hotel-style experience and the compelling economics we offer to property owners.”

Qstay has by far facilitated over 130,000 nights booked and hosted more than 60,000 guests.

Alec Redelman, Co-Founder of Qstay, concluded: “The support from our investors is a strong endorsement of our vision to redefine the guest experience and optimise returns for property owners.”

Redelman stated: “We are committed to expanding our footprint and enhancing our platform’s capabilities.”

According to recent data by Statista data platform, the hospitality industry in the GCC region is expected to generate revenues of $34 billion in 2026, with forecasts for revenues of the hotel industry to double between 2021 and 2026.