9flats.com achieves profitability
Short stay platform 9flats.com breaks even / Stephan Uhrenbacher moves to advisory board / Roman Bach now CEO
Hamburg, 20.02.2014 9flats.com launched by Stephan Uhrenbacher in March 2011 as the first European player in the segment.
http://www.9flats.com has evolved into a leading provider of private housing for travellers. In just three years, the Hamburg company has now achieved operating breaking even.
Starting as a first mover of the sharing economy in Europe, 9flats not only experienced the usual dynamics that govern the start-up industry. The company quickly found itself in an aggressive market environment, shaped by financial investors placing lots of money with imitators and international companies launching in Europe. Competitive pressure has further increased with the hotel lobby and rising advertising costs in the online travel.
“Becoming profitable in this tight market within the first three years make me proud,” Stephan Uhrenbacher (43) admits. “It is an impressive example of business acumen. Roman Bach, who accompanied the venture from the start, played an important role in this.”
Stephen Uhrenbacher explains further: “I can now hand over a stable business to Roman. As CEO, he will take over from now on. As chairman of the advisory board, I will forward the strategic advancement of 9flat.com.”
Roman Bach (43) sees great opportunities for 9flats.com: “This segment is the fastest growing business model in online travel. 9flats.com continues to grow faster than the market. Achieving profitability is an important step for our further growth. Yet the next years are not only about profits, but also about continued growth. We’re right on track on that score.”