Off & Away, a Seattle, WA-based luxury-hotel auction site, has received a $2m follow-on funding from Madrona Venture Group.Off & Away will use the funds to expand its team, continue product improvements, bring new hotel partners on board, and enhance marketing efforts.
The company, which was founded by former Amazon.com and travel industry executives, partners with four- and five-star hotels in major cities throughout North America – currently 11 U.S. markets and Mexico. Signature rooms and suites are won by consumers through competitive online auctions at prices 80-95% off retail prices. Unsuccessful bidders can apply the used bid credits they’ve earned towards special deals with the site’s featured auction partners, or on other rooms at over 100,000 hotels globally (www.offandaway.com/how-it-works).
FinSMEs
20/10/2010