Czech Startup Davinci Travel System Grows Rapidly With Unique Platform For Group Accommodation

Davinci Travel System is developing a B2B platform for group accommodation. It is automating the entire process, which is still being done by staff in travel agencies and hotels. According to its own calculations, it can reduce the costs of this process by about 30%. Davinci Travel System have achieved cooperations with 32 travel agencies and more than 2600 hotels in Europe since the beginning of its operation in February 2017.

Doubling Expectations

It started operating on the market in February 2017 and finished its first year with rapid growth – its revenues exceeded €1,4 million. In some months, revenues were double compared to those expected in the company’s business plan.

The startup continues its financial success during the second year of operation with April 2018 being an all-time peak in the firm’s history; revenues went beyond €340.000. Looking a year back, revenues barely reached €31.000, which means the company is growing at a rate of 1000%. In total, Davinci TS started cooperation with more than 2600 hotels and 30 travel agencies in several hundred cities around Europe. The startup is foreseen to maintain its exceptional growth throughout this year: planned revenues range between €7 to €10 million.

“We’re growing fast because we’re working more than others. If you work two times more, you’ll also have twice the results. There is no one after 5 pm in most of our competing companies, not to mention weekends,” says Alex Ilyash, founder and CEO of Davinci TS. The big workload of the team was also one of the reasons why J&T Ventures and Prague Boats company decided to invest in this startup last summer.

Preserving Growth Rates

Davinci TS launched with a focus on the Central and Eastern European region (CEE). To preserve their growth rates, they will expand to China and other markets, such as Germany, Italy or India.

“We want to orchestrate our expansion so that it takes place in several countries at the same time and later on focus on the countries where we experience best outcomes. However, we’re already placing emphasis on China. Not to underestimate this market, we’re looking for a partner to help us with expansion there,” Alex Ilyash adds.

__________

Sharing is caring!