AMAmenitiz Financial Model
Fintech Startup Financials (Free Excel Download)
All-in-one hotel management SaaS platform ("Shopify for hotels") for independent hoteliers - PMS, booking engine, channel manager, website builder, payments, and AI-driven revenue management.
professionals from Deloitte
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About this model
Amenitiz provides independent hotels with a single operating platform for property management, bookings, channel distribution, websites, payments, and revenue management. It is positioned as an accessible alternative to stitching together multiple hotel-tech point solutions.
The company focuses on boutique hotels, B&Bs, and other independent properties, initially across Europe. Its PriceAdvisor product adds AI-driven pricing, while Amenitiz Pay extends the core software relationship into payment processing.
The model should begin with subscribed properties, monthly subscription ARPU, and add-on adoption such as PriceAdvisor. A secondary payments schedule should convert booking or payment volume into take-rate revenue, with sales efficiency and property retention governing the SaaS growth case.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Amenitiz
How to build a detailed financial model for Amenitiz
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Amenitiz model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Replaces the complexity of multiple hotel-tech point-solutions (PMS, channel manager, booking engine, website CMS, online reputation, payments) with one integrated platform.
- Key product modules: Property Management System (PMS), Booking Engine, Channel Manager, Website Builder, Payments (Amenitiz Pay), SmartPricing / PriceAdvisor (AI revenue management).
- PriceAdvisor: AI dynamic pricing tool built specifically for small independent hotels; average +20% revenue uplift for users.
- Target customers: independent and boutique hotels, B&Bs, rural properties - not enterprise chains. Estimated 1.5M independent hotels globally.
- Positioned as the only all-in-one tool built specifically for the independent segment (large hotel-tech vendors focus on enterprise chains).
Market
- TAM framing: ~1.5 million independent hotels globally.
- Market opportunity driven by fragmentation: independent hoteliers historically underserved by enterprise solutions (Oracle, Amadeus) and forced to stitch together 5–10 different tools.
Revenue model
- Primary: SaaS subscription per hotel property, monthly or annual billing.
- Published pricing (2022–2023): €42–€69/month per property for core plan; approximate USD equivalent $45–$75/month.
- Add-ons: PriceAdvisor (AI pricing) at €6/room/month on top of base plan [public pricing]. Payments take-rate (Amenitiz Pay) - rate not publicly disclosed.
- Revenue mix: primarily recurring subscription; secondary revenue from payments processing take-rate (emerging); minimal services revenue.
- Go-to-market: direct sales + self-serve; partnership with tourism boards and hospitality associations in Spain/France.
- Cohort of ~4,000 hotels at Series A (April 2022); grew to 15,000+ by Series B (November 2025).
Traction & metrics
- Hotels on platform at Series A close (April 2022): ~4,000 properties across 37 countries.
- Hotels on platform at Series B close (November 2025): 15,000+ properties.
- Revenue 2022: $15.4M [public data, Latka]; Revenue 2023: $45.5M [public data, Latka].
- Revenue implied 2022→2023 growth: ~195%.
- Bookings processed: €3 billion cumulative by Series B.
- Team size at Series B: 274 employees [public data, Latka 2023].
- Customer reviews: 4.8/5 average.
- Geography: 37 countries at Series A; European primary.
Unit economics
- Average monthly subscription: ~€55/hotel/month (midpoint of €42–€69 range).
- Annual subscription: ~€660/hotel/year (~$720 USD).
- Gross margin for B2B SaaS subscription: 75–80% (standard for horizontal SaaS; Amenitiz hosts infrastructure but cost structure is light).
- LTV: at €55/month, 85% annual retention, 75% GM → LTV ≈ €2,750+ per hotel.
- LTV/CAC: 7–14x range - healthy for SMB SaaS.
- Payback period: 4–8 months at these unit economics.
Competition / moat
- Direct competitors: Mews, Cloudbeds, Little Hotelier, Lodgify, Sirvoy - all target independent hotels; larger legacy players (Oracle OPERA, Amadeus) target enterprise.
- Moat: (1) Product breadth - single-platform vs. competitors requiring 3–5 tool integrations; (2) AI pricing (PriceAdvisor) creates measurable ROI and switching costs; (3) European SMB SaaS distribution (language/local support) hard to replicate; (4) payments integration creates data flywheel.
- Growing network effects via channel manager (OTA distribution breadth) and Amenitiz Pay (payment data improves AI pricing).
Team & funding ask / use of funds
- Co-founder & CEO: Alexandre Guinefolleau.
- Founded: 2017 in Barcelona.
- Series A raise: €27M / ~$30M (April 2022), led by Eight Roads; joined by Point Nine Capital, Backed, Chalfen Ventures, Otium Capital.
- Prior funding: Seed round (estimated ~€3–5M, early 2020–2021).
- Use of Series A funds: (1) European market expansion; (2) 200+ new hires in Barcelona in 2022; (3) new product launches (RMS/Distribution).
- Series B: $45M (November 2025), led by Kfund/Leadwind, with Thayer Ventures, Columbia Lake Partners; all existing investors participated [press].
- Total raised through Series B: ~$75M+ [press].
Recommended financial model
- Archetype + why: SaaS ARR recurring subscription model. Revenue is primarily per-hotel monthly subscription (logos × ARPU). This is a textbook `recurring` mode - accounts = hotel logos, rev_per_acct = monthly ARPU, txns = 1, take = 1.0. Payments take-rate is secondary and modelled as "other revenue." No deal/financial model needed - this is an operating SaaS startup.
- Forecast horizon & granularity: 60 months (5 years) monthly. Series A base case modelling investment returns from the $30M Series A raise.
- Key drivers & assumptions:
| Driver | Value |
|---|---|
| Opening hotel accounts (M1) | 4,000 |
| Monthly ARPU | $60/hotel/month (~midpoint €55 converted to USD) |
| New logos M1 (gross adds) | 150/month |
| New logo MoM growth (Bull/Base/Bear) | 5% / 3.5% / 1.5% |
| Monthly account churn (Bull/Base/Bear) | 0.8% / 1.2% / 2.0% |
| ARPU expansion (MoM) | 0.5% / 0.3% / 0.1% |
| Gross margin - core subscription | 78% |
| Services revenue (M1) | $15,000/month |
| Other revenue (M1) | $20,000/month |
| Opening FTE | 60 |
| Engineering hires Y1–Y5 | 15, 18, 12, 10, 8 |
| Sales hires Y1–Y5 | 20, 25, 18, 12, 8 |
| Marketing hires Y1–Y5 | 8, 10, 7, 5, 4 |
| CS hires Y1–Y5 | 15, 18, 12, 8, 6 |
| G&A hires Y1–Y5 | 5, 8, 6, 4, 3 |
| Avg salary (EUR team, converted to USD) | Eng $120K, Sales $90K, Mkt $80K, CS $70K, GA $85K |
| Marketing programs % of revenue | 20% / 18% / 15% |
| Starting cash | $28,000,000 |
| Series B close month | Month 36 |
| Series B amount | $45,000,000 |
| Pre-money (Series A being priced) | $90,000,000 |
| Exit year | 5 |
| EV/Revenue at exit (Bull/Base/Bear) | 10x / 7x / 4x |
| WACC | 20% |
| Terminal growth | 3% |
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: ~3.5% MoM logo growth, 1.2% monthly churn, 18% marketing as % of revenue. Reaches ~15,000+ hotels by Y3–Y4, consistent with actual Series B traction.
- Bull: 5% MoM logo growth, 0.8% churn (annual 90%+ retention), faster ARPU upsell from payments/AI pricing. ~20,000+ hotels by Y4.
- Bear: 1.5% logo growth, 2% monthly churn (high SMB churn), minimal ARPU expansion. Slower path to profitability.
- Flex variables: new logo adds, churn, ARPU expansion, marketing intensity, hiring pace.
- Required sheets / outputs: Dashboard, Assumptions, Revenue, Headcount, P&L, Cash & Runway, Annual Financials, Valuation, Returns, Checks, Disclaimer.
Frequently asked
Is the Amenitiz financial model free?+
Yes. The Amenitiz model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Amenitiz's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
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