MOSCOW--(BUSINESS WIRE)--Today social online service TravelRent.com is announcing its launch. It is the first social online booking service in the Russian market for short-term private accommodation. It allows users to find, book and pay for their vacation or business trip accommodation on a single website.
Fast Lane Ventures, the leading developer of Russian internet companies, is acting as an investment and operational partner of TravelRent.com.
The aim of the new service is to create the largest Russian speaking online community of property owners leasing for short-term. Placement of objects is free for property owners; this is particularly attractive as the internet may be the only platform available to owners to advertise upon.
“While creating TravelRent we did our best to simplify the process of booking short-time rental accommodation and to provide guarantees to those making use of this process,” said Mr Stanislav Frolov, CEO of TravelRent.com.
“With the help of our service people get to know each other, reach agreements and travel with ease!”
While booking accommodation online, the lessees pay the booking cost and 10% commission in return for a high quality service and a guarantee of payment in cases specified in TravelRent’s terms.
The tourism market is one of the fastest growing industries in Russia and is estimated to be worth approximately $17.6 billion by the end of 2011. According to a recent Rambler’s poll, 57% respondents prefer organizing their trips independently rather than via travel agents.
Marina Treshchova, CEO of Fast Lane Ventures, commented on the launch:
“The perceptiveness of the business model adapted by TravelRent.com has already been proven abroad. The leader of the segment - American Airbnb - has already risen more than $110 mln of external investments. We sought to find a mutually beneficial solution and include this company in our business portfolio.”
TravelRent will be available in several languages and compatible with several currencies. By the end of 2012 the company aims to expand the active database of offers to 45,000 objects in Russia, CIS and around the world as well as increase the number of partner websites to 500 and have at least 5 million registered users by 2015.
About Stanislav Frolov, Founder and CEO of TravelRent.com
Stanislav has two diplomas of higher education and an extensive experience working on management positions and in launching and managing own business. He was Managing Director of a production company and entertainment centre, created and became a head of an advertising and production company.
Starting 2010 he is a creator, co-founder and a head of TravelRent.com.
Fast Lane Ventures is the leading developer of internet companies in the high growth Russian internet market acting as both an investor and operational partner assisting with management and promotion of its portfolio companies after their launch.