Budget hospitality chain Treebo Hotels said it has raised $16 million (Rs 118 crore) in its Series D funding round from a clutch of investors led by French hospitality major Accor , even as the Covid-19 pandemic continues to batter the travel and tourism industry. The company offers a comprehensive hotel management software, including modules such as property management, point of sale, rates and inventory management, housekeeping and guest assist.“Hotel Superhero is exactly the kind of technology that the hospitality industry needs today. It is cloud-based, intuitively designed and comprehensive,” said Floor Bleeker, chief technology officer at Accor.Treebo operates more than 600 hotels in over 100 cities in India. Globally, the travel and hospitality industry has been among the hardest hit by the pandemic and will recover to pre-Covid-19 levels only by 2023, according to a report published by global consultancy McKinsey. Last June, Treebo had raised Rs 22.5 crore from existing investors Bertelsmann BV, SAIF Partners and Matrix Partners.

Source: Economic Times June 30, 2021 12:01 UTC