Hotel Engine Reaches $2.1 Billion Valuation with $140M Series C

Hotel Engine, a travel technology company specializing in business travel, announced the closure of a $140 million Series C funding round led by Permira Growth Opportunities II, bringing the company's valuation to $2.1 billion. Hotel Engine, which has raised a total of $221 million over three funding rounds, achieved this valuation with minimal external capital—only $20 million prior to this latest round. The company is experiencing rapid growth, reporting a 70% year-over-year increase in revenue, and is on track to book over 10 million room nights in 2024.

The new funding will support Hotel Engine's continued product development, including the addition of flight and rental car bookings to its platform. These new offerings are set to go live in October, transforming Hotel Engine into an all-in-one travel booking solution. In line with its expanded services, Hotel Engine will rebrand to "Engine" to better reflect its broader focus. The company connects business travelers to a network of more than 750,000 hotels, 300 airlines, and 40 rental car companies, while offering travel providers free access to its Partner Hub software for marketing and management tools.

As part of the Series C deal, Permira Principal Alex Melamud will join Hotel Engine’s Board of Directors. Hotel Engine’s impressive trajectory—achieving profitability and significant scale—has positioned it as a key player in the business travel sector, leveraging its extensive network to offer competitive rates and optimized travel management solutions for its members.