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HotelTonight founder Sam Shank on how the company’s app helps travelers find last-minute deals for hotel rooms.
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-- -- -- couple days -- but believe it or not they are still some last minute hotel deals you can find new mobile device.
Ever -- -- -- -- hey Robert.
They think semester is airtime and a star appears caught hotel tonight Sam Chang -- is this CEO and the founder he's joining us now.
San Francisco -- Sam thanks so much for joining us.
The the -- in case folks are not aware of it does -- last minute bookings and forty plus US Canadian and now London ahead of the Olympic cities there.
You can book starting at noon local time in the city looking to book -- up until last call right to AM on the local time there as well salmon.
And basically guys work with that handpicked hotels that you sort of jury these experiences -- you put it.
Have -- today any.
Image problems with some of these -- hipper hotels thirty restrictions on rooms or limitations on night guest hotel points.
No you know it it's -- a really good experience of the hotels what we do is we -- With them to sell the rooms they would otherwise not sell directly to consumers through the -- so we pick up those rooms -- as bookings they would otherwise not get.
Right and and opportunities lost forever as -- -- -- like to say.
No we always have something at noon.
Now you -- act quickly because sometimes reconcile out like if it's the Super Bowl.
OK then how does your revenue stream work do you actually by the hotel rooms and avail are by the inventory from the hotels themselves are you -- -- working as an intermediary.
It's an intermediary model it's an agency model the traditional model with hotels and we take about 20% in the room further service we provide hotels.
And you guys -- our view do a good job covering the major markets to go on the opulent New York severance is go to Vegas.
And I Atlantic City -- Miami some major markets there what about plans to expand does -- period driving down 95 you know in the middle of the night year.
Getting a little -- this -- seems like could be perfect opportunity for you guys you looking at other smaller markets and also.
For other platforms right now you're on IOS and android only.
And so.
We've just been getting started we're only sixteen months old we're in forty cities but we're the leader in last minute hotel bookings -- mobile devices with 2.5 million downloads.
Our goal is to be the next big online travel brand the next big brand that brand that stands -- to hotel right now.
To that would mean we need to be ubiquitous we need to be ubiquitous in terms of locations anywhere in -- hotel we -- -- be there.
We also want to be ubiquitous on platform so we look very closely at new platforms as they emerge.
Windows Phone.
Your Blackberry and we see where people have demand for -- that Rohm and we wanna be there for them.
-- -- guys just raised 23 million bucks.
On the talk -- about -- -- held that that chemistry is right now fall in the FaceBook IPO debacle is -- change in the atmosphere there with the DC's or maybe with your exit strategy area may be looking to be acquired are as you grow as opposed to maybe IPO or is that still on the table AB and you're young but far off on the horizon.
Now you know we're not thinking about an exit right now.
Our have a lot of fun we're solving a lot of problems growth for hotels and for consumers.
I'm so we don't think about where we're we're headed in and we feel like if we do a good job of of solving that need.
That will that things will go very well for us and a lot of opportunities will be open for us but in the funny environment is very strong right now and and I wouldn't say that I've seen a -- it even -- FaceBook IPO.
And know what's the biggest challenge -- facing I know that you are hiring your advertising -- -- on your site so right now.
What is the biggest challenge out there right now is -- the uncertainty facing you with taxes or with the health care law or is it just the general.
Global economic uncertainty.
You know -- -- in terms of macro forces we feel that and we've seen this is that.
Deals business in a distressed inventory business or selling these rooms or otherwise not go unsold works great in environment like this -- -- a strong economy.
Comment a growing economy because hotels always have some last minute rooms available.
But it also works in an economy where.
Things aren't as good or or where there's a lot more -- cancellations or are on filled rooms and we can really help hotels in those situations and we can help travelers to.
With -- last minute travel needs get into a great room at a great price.
There was some mention you hear from one to five nights currently Sam -- thanks so much for joining us the founder.
And CEO of hotel tonight Tracy.
