The Guild, which originated in Austin in 2016, now operates 800 units in Austin, Cincinnati, Dallas, Denver, Miami, and Nashville.
This latest infusion of money will help The Guild expand to six more markets by 2021. The company also plans to use it to develop technology to improve the guest experience.
Venture firms Maveron, Convivialite Ventures and ATX Venture Partners participated in this round of funding. Real estate partners RXR Realty, Corigin and Nicol Investment Group also contributed.
This follows $8.5 million in funding that the company received in late 2018, also from Maveron.
The Guild’s business model is to partner with developers of luxury apartments and office buildings in urban markets to convert entire floors into suites.
The Guild’s main target is the business traveler. The typical guest is an employee who makes weekly trips to the same city for a project that could take months to complete.
The company negotiates with Fortune 1000 firms to come up with a fixed nightly rate. Rates can range from $150 to $250.
Some companies whose employees have worked with The Guild are Google, Whole Foods, Wal-Mart, and Salesforce. The employees can book a room through their corporate travel agency or booking platforms.
“We work really hard to build relationships with key corporate accounts and continue to deliver great service and good locations that are going to fit with what their needs are."
— Brian Carrico, Co-Founder of The Guild
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