Stay Today signs exclusive territory licence deal

October 9 2012

Stay Today signs exclusive territory licence deal with Fairfax Australia

Stay Today has signed a deal with Fairfax that has seen the discount booking app go live across Fairfax mobile portals across Australia.

Available free on iTunes, Stay Today is the first mobile-only same-day hotel booking service in Australasia.

The deal is a revenue-sharing agreement through which Fairfax provides media coverage across its mobile networks in exchange for an exclusive Territory Licence for Australia. The licence awards Fairfax an undisclosed percentage of all revenue generated by the Stay Today service in Australia.

Matthew Mayne, Stay Today’s Managing Director, says that partnering with Fairfax provides the service with a strong route to market in Australia.

“This is a great deal for Stay Today, as Fairfax has backed us as a credible source of new revenues. Equally, we will benefit significantly from our place on the Fairfax mobile media platform. The opportunity for Stay Today is immense in Australia, as it has the second highest penetration of iPhones per capita in the world”. In hard numbers, this equates to over 6 million iphone users – all potential customers of the service.

Mayne joined 22 year old founder Veronica Nobbs in July of this year after being inspired by her vision for the business. “Australia is just the start for Stay Today” says Nobbs, who has eyes on Asia Pacific expansion. “The explosion in smartphone penetration throughout Asia Pacific will see mobile become a major booking channel for hotels over the next two years. We’re poised to leverage that trend.”

The company is in discussion with a short list of New Zealand partners to engage in a similar licence deal here.

Accessible via iPhone app after midday each day, Stay Today delivers cheaper rates than online, featuring a unique price-drop engine that reduces room prices throughout the day.

With a booking time of just ten seconds from opening the app to final receipt, Stay Today is aimed at people who need to quickly book a hotel while on the go.

Stay Today’s 75 hotel partners across New Zealand and Australia include Rendezvous in Auckland, the five star Princes Gate in Rotorua and the Museum Hotel in Wellington.

The company is projecting revenues of over $10 million in its third year, largely from international markets.

ENDS

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