By HTN Staff - 12.11.2022
ResortPass, a technology solution provider that offers day access to luxury hotels and resorts around the world, has raised $26 million in Series B funding, bringing the total amount the company has raised to $37 million. The funding round was co-led by Declaration Partners and 14W, and included participation from CRV and additional new investors such as William Morris Endeavor, Gwyneth Paltrow, Jessica Alba, and Brian Kelly, also known as The Points Guy.
The New York-based company allows users to easily access a property’s amenities, such as pools, spas, and fitness centers, without having to book an overnight stay. Launched in 2016, ResortPass works with over 900 hotels and resorts worldwide, including the Ritz Carlton, Four Seasons, W Hotels, Hyatt Hotels, Fairmont, and Westin, allowing users to enjoy luxury experiences in their local areas. The company reported a 100% increase in gross booking volume so far in 2022 compared to 2021, doubling its number of users.
The company has also appointed Michael Wolf as CEO. Wolf comes to ResortPass with nearly 20 years of executive leadership and advisory work across high-growth marketplace, b2b2c, and wellness companies including ClassPass, Supernatural, Lululemon, Seated, and FreshDirect. He began his career at Bain & Company and earned degrees from Columbia and Wharton. “The ResortPass product-market fit is the strongest I have seen in over two decades of collaborations with innovative businesses,” said Wolf in a press statement. “Consumers are obsessed with the access they now have to our partners and our partners deeply value these new consumers. Investors expressed that same degree of enthusiasm throughout this raise. We are excited to be the leader in the rise of the day guest, and I could not be more energized to lead ResortPass in the next phase of its journey.”
Over the last year, ResortPass has more than doubled its number of users, and has delivered over 1.6 million guests to its partner hotels since its inception. In addition to being the leading consumer marketplace in this space, ResortPass also serves as the main provider of day access management software for hotels, providing a robust SaaS software solution for its partners.
“As an early adopter of ResortPass, Accor has seen substantial incremental ancillary revenue from the pools, cabanas, and spas at our hotels and resorts,” said Adam Hayashi, Vice President of Revenue Management and Analytics at Accor, one of the world’s largest hospitality companies with over 5,300 locations. “ResortPass’s technology has been well-received by our operational teams, and the caliber of guests strongly aligns with our target clientele. ResortPass is a trusted partner, and we are excited to watch our collaboration grow.”
“ResortPass has seamlessly collaborated with more than 60 Hyatt hotels to deliver a unique guest experience and help drive ancillary revenue,” said Brian Loughnane, Corporate Director of Operations at Hyatt. “ResortPass enables these hotels to consistently access a previously untapped revenue stream from a different guest segment, creating a new and broader customer base. This elevated guest experience allows locals and visitors alike to enjoy many hotel amenities usually reserved for registered hotel guests.”
“We are so excited about the funding round and also to welcome Michael to his new role,” said Amanda Szabo, ResortPass’s founder, who will continue to serve as an advisor to the company. “As we transition into this next phase of the company’s rapid growth, there is a different set of skills now required to scale the company. Michael’s extensive experience at marketplace businesses makes him the perfect fit to take ResortPass to the next level and continue to grow our world-class team.”
In the long term, ResortPass plans to expand into additional overseas markets, such as Europe and the Asia-Pacific region, as well as increase its number of hotel partners. This expansion is expected to help the company continue to grow and provide more luxury experiences for its users.