Technology update: Direct booking feature launching on movinn.com

To increase velocity and effeciency in sales, Movinn has developed and deployed a direct booking feature on movinn.com

Company Announcement nr. 40 - 2024
Press Release
22 January 2024 16.35 (CEST)
 

Copenhagen, Denmark - Movinn is launching direct booking on movinn.com, meaning you can now instantly book serviced accommodation for shorter and longer stays across our platform. The update includes the following key features: Live inventory with realtime availabiliy, dynamic pricing based on the lenght of the desired stay, secure verification of client IDs for KYC purposes, digitally sign agreements and instant payment of initial invoices directly in the booking flow. In parallel Movinn is deploying a customised AI agent to asisst prospective clients at every time of the day at every day of the week in making a purchasing decision. 

The features are developed with the aim to increase the velocity of sales as well as increasing our effeciency with a future slimmer sales organization. Regarding the latter, we are specifically able to reduce wages in our sales organization by roughly 500,000 DKK annually on a comparable basis. The features will also enable us to sell our gap-periods between existing bookings, thereby increasing flexibility for our clients while - potentially - improving our occupancy levels (and potentially lowering vacancy). These features are important on a standalone basis, but they are also important first steps in completing upcoming strategic steps in our tech-roadmap.  

CEO, Patrick Blok states: "We announced our intention to develop these features in november, so its great that we are now able to launch it. As i have previously stayed, we needed to rethink our sales efforts and this is an important first step to achieve that. We have designed a superrobust flow that can act as an extra sales channel and with the AI functionality, we can support clients in their purchasing decisions 24 hours a day. I expect direct bookings to generate up to 25% of all future orders and we can service clients that might otherwise have eluded us, so there is a strong potential in that sense of speed. These features are also needed as part of upcoming sprints in our tech-development; one of them being strategic API integrations with new sales channels and eco-systems and the other being an invite-only, booking management platform for key stakeholders. These works are in progess and expected to be complete here in Q1". 

Contacts

Patrick Blok
CEO, Movinn A/S
pb@movinn.dk
+45 28940879

Certified Advisor
Per Lönn
Västra Hamnen Corporate Finance AB
ca@vhcorp.se
+46 40 200 250

About Movinn

Founded in October 2014, Movinn A/S has grown to become one of Denmark's leading providers of fully serviced apartments, operating within the PropTech industry and delivering space-as-a-service to mainly large domestic and international corporations and organizations. To stay at the forefront of trends in the real estate and serviced living industry - and to diversify activities - the company has created a house of brands that cover both traditional and emerging client segments.
Inhouse, the company has created a highly integrated value chain and comprehensive tech-products (several software platforms & IoT hardware) to help provide the best possible service and quality to the company's clients and to help scale profitable growth. Movinn has a strong presence in Denmark, covering Aarhus, Odense and Copenhagen (the latter being the largest and primary market), and the company is planning to expand its operations into new European destinations.

Movinn A/S has received approval for admission to trading of its shares on Nasdaq First North Growth Market Denmark under the ticker “MOVINN”.