US: REVE, the innovation lab of international serviced accommodation provider, Synergy Global Housing [Synergy], has announced a major investment in corporate housing technology firm, Coded, which makes makers custom technology solutions for global serviced accommodation, corporate housing and service apartment agents and operators.
Long-time Synergy partner and REVE Managing Director, Jon Wohlfert, joined the investment round.
Wohlfert said: “After an exhaustive review process, we determined Coded and its proprietary software platform CodeOne offer the most robust and flexible technology solutions available in the marketplace and are best positioned to power the global serviced accommodations industry forward.”
CodeOne is a cloud based, proprietary all-in-one software platform designed exclusively for the serviced accommodations industry, featuring:
- Client relationship management [CRM] and communication
- Property and booking management
- Price quoting
- Accounting system integration
- Data reporting
- Document, file and task management
- User security
Coded founder and CEO, Eduardo Herrera, said: “I couldn’t be happier to partner with Synergy and Jon to bring our universal technology solutions to the masses and to better our industry. Unlike most of the serviced accommodation software solutions available today, CodeOne is an all-in-one open platform that provides agents and operators with a base-layer set of tools, secure access and endless API integration flexibility to ensure their brand and product identities remain intact.”
CodeOne aims to use technology to level the playing field amongst large and small service accommodation providers by delivering greater access, transparency and more options to fulfil booking requests, whether for managed inventory or supplier-provided properties. CodeOne member organisations will receive access to a connected database of live apartment inventory to better serve their clients’ housing needs in real-time.
Synergy co-founder, Jack Jensky, said: “Through extensive client interviews and research, we discovered our clients’ most significant pain point to be the time spent booking serviced accommodations. CodeOne makes it possible for each member company to select and connect their owned, managed or supplier partner inventory and streamline the booking and billing experience—drastically expediting the process clients and guests spend researching and reserving apartments.”
REVE’s investment in Coded comes amidst a tumultuous period for the serviced accommodation industry.
The Covid-19 pandemic forced many serviced accommodation providers to trim operations, reduce operating expenses, minimise lease exposure and postpone capital investments such as technology.
As the industry returns to pre-pandemic levels, serviced accommodation providers are seeking new ways to improve their bottom line. CodeOne claims to have an “affordable” licensing model offering member organisations the benefits of an enterprise system with a minimal upfront investment.
Wohlfert said: “One of our main goals with REVE is to champion industry evolution. The CodeOne open ecosystem enables member companies to immediately upgrade their technology stack and gain greater access to other CodeOne member companies, ultimately streamlining the booking and billing transactions process to better serve their clients.”
Developed to the latest data privacy, infrastructure and security requirements, CodeOne will enable member companies to compete for larger multi-national clients that have rigorous technical requirements.
The current CodeOne product roadmap includes the following enhancements:
- Revenue management
- Channel management
- Client portals
- In-apartment technology
Synergy co-founder Henry Luebbert said: “We believe the technology that Ed [Herrera] and his team at Coded developed through CodeOne will serve as a foundational platform to connect the serviced accommodation industry in a manner similar to the way GDS changed air travel in the 1960s. It’s an exciting time for this space and we look forward to collaborating with industry partners to create an open-ecosystem of fully vetted serviced accommodations.”
