- RoomPriceGenie, a trusted name in revenue management systems for smaller hotels, lands a massive $75 million investment.
- Technology exec Chas Scarantino takes over as CEO; co-founder Ari Andricopoulos shifts strategy focus.
- New OpenAPI PMS integration promises smoother pricing automation for independent hotels.
Revenue optimization just got a $75M glow-up, courtesy of RoomPriceGenie and Five Elms Capital. They’re making bold moves, switching up leadership, and rolling out tech enhancements that claim to simplify life for smaller hotels. That’s right—pricing your rooms shouldn’t require a degree in advanced algorithm theory anymore! But before rolling your eyes at yet another tech drama, here’s a simplified breakdown:
- RoomPriceGenie scored a massive investment in speeding up expansion globally.
- Ari Andricopoulos, the brains behind the operation, shifts to product strategy as CSO.
- New CEO Chas Scarantino steps in to drive growth (and probably drink lots of coffee).
- Their OpenAPI tool is making property management systems (PMS) integrations less painful.
- Nearly 3,000 hotel clients across 65 countries already trust them.
A (Costly but Bold) Move Towards Growth
RoomPriceGenie didn’t stumble into $75 million by luck. Five Elms Capital sees potential—whether from their user-friendly approach tailored for independent hotels or the company’s knack for profitability. With this cash influx, the company has the resources to keep growing and refining its platform. Their focus stays on simplifying revenue management tech so smaller; independent properties don’t have to gamble with outdated spreadsheets or overpriced software.
Leadership Switch: Trying New Hands on the Wheel
RoomPriceGenie handed the CEO title to seasoned tech guru Chas Scarantino to guide this next chapter. Chas isn’t new to breaking into international markets or scaling businesses—he’s done it in places as varied as Japan and the UK. Meanwhile, Ari Andricopoulos isn’t disappearing; he’s honing in on new product ideas and strategic partnerships. Some might say it’s a power move—others might say it’s just smart business.
Why Don’t More Hotels Use RMS?
Good question. Co-founder Andricopoulos highlighted that less than 10% of hoteliers even bother with revenue management software. Most of them? Bigger chains or brand-heavy properties. Independent hotels often skip it, claiming it’s an overpriced headache. RoomPriceGenie kicked off in 2017 to flip that perception. Instead of convoluted tools, they built something straightforward, adaptable, and functional. And it worked—3,000 clients later, they’re kind of a big deal.
Their latest addition, the OpenAPI PMS integration, saves users from smashing their keyboards. It offers a way to connect their pricing software to other systems without drowning in unnecessary fees or headaches.
Why RoomPriceGenie Gets the Spotlight
HotelTechAwards says it all: second-best Revenue Management System (RMS) and one of the best workplaces. There is no marketing fluff there—it’s backed by user feedback. Also, this “small startup” turned into a global powerhouse without torching its profit margins. That alone deserves a slow clap.
Even Five Elms Capital called them a leader in their niche, highlighting the OpenAPI as a standout innovation. Whether that’s worth $75M is up for debate, but it at least shows they know what hoteliers need: simplicity, utility, and maybe fewer migraines.
Looking Ahead
Will Chas Scarantino’s global expertise take RoomPriceGenie to domination? Maybe. He’s shown a knack for scaling teams and creating loyal followers. His focus on “people over profits” seems promising, but let’s see if he keeps that energy when scaling gets messy. For now, RoomPriceGenie is plotting big things, and if they execute well, independent hotels will get the revenue tools they deserve.
So, hoteliers who’ve put off modernizing—what’s your excuse now?