Roomorama Merges with Lofty

Roomorama.com, an established leader in online short-term rental accommodation, today announced its merger with short-term rental site Lofty.com – a move which will cement Roomorama’s position as the leading marketplace for mid-range to high-end holiday rentals. With the merger comes an injection of US $2.1 million in seed funding.

Roomorama witnessed exponential growth in 2011 and its Australian property portfolio alone grew by over 20-fold, affirming the popularity of the short-term accommodation rental model for business and leisure travellers. The company reported an average gross booking value of $1,330 with over 80 per cent of bookings being made for 8-14 nights.

With a current listing of 50,000 properties in more than 3,600 locations worldwide, Roomorama is set to more than double this number by the end of 2012.

“We are currently working on integrating the properties from Lofty’s inventory which will make us one of the largest online short-term rental providers worldwide and will give Australian travellers even more options when travelling domestically and abroad,” commented Jia En Teo, Roomorama founder and co-COO.

“International travellers and property owners are continuing to embrace the short-term rental model, and I’m confident that this merger will deliver what the industry has been seeking - higher quality, improved reliability, and a swifter booking process,” added Jia En Teo.