I worked at a comfort inn a decade ago. We had a charge code of $59 for a "half stay" which was available from 10 am to 4 pm. Truckers used it all the time for a day nap, breakfast and shower. And this was a decade ago. These guys didn't invent anything.
This was my first thought after watching this too. I’ve only seen the episodes where he’s combative, but when he isn’t being that way I actually feel like I learn a little about how to assess business better from him
It makes me think they went into the tank knowing they aren't the first guys to do it, but want to ride the wave until the market proves itself better and decided to get free advertising on Shark Tanks platform until they are pushed out.
“They gave no time and no opportunity to explain what we do” Yes they did. A luxurious abundance of time and patience, sharks gave several chances for them to explain what their technology does that nobody else can/would copy and why. They failed to do so, then said “shame on them”. He failed then blamed others for his failure. Destined for mediocrity.
Precisely. Also add in the fact that the real meeting is actually anywhere between 30 minutes to over an hour per pitch and not just the condensed TV version.
Update: By May, 2021, they were only down 30% due to the “work from hotel” trend. With over 1500 participating hotels, they are the largest player in this niche. In June, 2022, the company has gone international with participating hotels in major European cities. As of August, 2023, annual revenue is around $5 million.
@@_eaturveggies01 I am a tremendous individual. I change minds and lives. I am a faculty member in my college. I am a proud beholder of a PhD degree. There may be people who earn more than me, but no one (except a fellow faculty member) does the kind of research that I do. And how many college degrees do you have? I have three.
@@umbertlambert2113 That's UA-cam, there's certain trigger words that don't make any sense to trigger a delete but they do. I get at least 40% of my posts deleted and they are non confrontational with zero profanity. I wouldn't even be surprised if this is deleted.
I think they explained it alright, but the business model is of no interest to the sharks. The company is still working, so good for them. It's not a multi-national, multi-billion company, but it has survived so far.
@@LisaSimpsonRulesyou also have to realize the pitch is edited from an hour to 8 minuted so we can try to understand it. The pitch is probably more complicated than what we saw
@@starblaster321 Oh, yes. My point was that the sharks only invest in companies they think they can grow and grow. They don't want a business on which somebody can make a living--they want to earn big so that they can extract a big percentage in profits.
2:07 Chris Sacca's face here is hilarious, he previously got into a huge fight with Mark over a company claiming that their real-estate agent door lock couldn't be duplicated by other companies so these types of claims apparently tick him off.
we already have such services many years back and its typically used by men checking in with their mistresses in the day and be home for dinner in the evening!
In 2020, the global Covid-19 pandemic crushed their business. Bookings were down a whopping 82%. It turned out to be a blessing in disguise. As people worked from home, they got a little stir crazy - they wanted a quiet space. Many turned to this company and others (there are three other competitors to Hotels by Day and some hotel chains offer their own version of this service) to work in a hotel room instead of home. By May, 2021, they were only down 30% due to the “work from hotel” trend. With over 1500 participating hotels, they are the largest player in this niche. In June, 2022, the company has gone international with participating hotels in major European cities. As of August, 2023, annual revenue is around $5 million.
It really is a terrible pitch! Insane valuation, cringe performance, being unable to answer fundamental questions about their business and technology, their "technology" doesn't appear to be proprietary, they have tiny sales, then lastly blaming it on the sharks for not understanding! LMAO
Having worked in upmarket hotels I can tell you this won’t work. The rooms would have to be serviced, before and after a several hour stay, it is not worth it. There could never be a reliable number of available rooms ready at any given time. This has been tried for decades.
It wasn't even mentioned the staffing difficulties with having to flip rooms couple times within a day Also - which is easier: Selling a room 3 times a day for $90 each or Selling one room one time for $270 🤯
You completely missed the point. Of course it's easier selling 1 room 1 x for $270, but they don't sell their system to these hotels. They're in a niche market.
Dayuse, resortpass have been doing this for a while too. I wish these guys all the best but I think the pitch failed. Another way that hotels monetize from unused inventory is they partner with companies like Way, where you can park your car at a hotel instead of an airport and pay cheaper parking, plus you get the shuttle service from the hotel to the airport so they're providing convenience. If someone wants to crack unused amenities in a hotel maybe go into the short term rental (rent hotel gyms, pools) instead of going to a gym since in my time traveling it looks like the gyms and pools are pretty open and I'm sure a hotel can make extra money renting it out (if it's not a Marriott or upscale hotel that doesn't want short term visitors). Swimply pulled off the short term pool rental for private homeowners so doing something with hotels might work.
It is not a "technology", it is a software solution. Trying to sell a software without any market share to sharks for $7.5M will not work, especially if the seller has just lost all his credibility.
I think it's that some hotels require (or required?) customers to purchase an entire day, so this service lets you borrow it for a part of a day?? I thought that has always existed but idk tbh, they did a trash job at explaining.
It looks like the company is still in business, with $5 million in annual revenue. So it isn't a huge company, but they're still leading in their small niche. What they're solving is indeed actually a problem, not just for business trips - let's say you're visiting a place whose nearest airport is a 4 hour drive. So you land at the airport, stay for a few hours, sleep in and then drive to your destination. In that case, this would be useful. Mark and Robert did correctly spot the problems with their model, because they do understand technology. Sacca is an idiot who pretends he understands tech. He doesn't.
They might asked it but was cut out in the video Usually business pitch in shark tank last for 40 mins to 2 hours All these videos uploaded are just edited
In nyc and other big cities by the HOUR already exists. Maybe not for gigantic corporations, that would definitely be different, but wven here in the bronx we have beautiful hotels/rooms that you can rent by the hour. Maybe it would be better for IF the hotel couldnt fill alot if rooms on a given day or something.
I like the idea, especially since most hotels won't let you check in before 3 or 4. Other than the crazy evaluation what am I missing here? The only place I've seen this kind of thing lately is in airport day rooms/hotels.
Honestly I am not sure why the sharks struggled to grasp this concept. This episode aired around a decade ago & I still cannot easily find day use hotel rooms. I have searched for hours looking for day use hotels and found only one website which offers it (maybe it was this company?). If the big guys wanted to do it, they would, but they haven’t and they won’t- at least for the foreseeable future, hopefully after these guys have already made bank for their hard work
I actually like this. They explained it and it made sense to me. If they get a software patent it’s a serious product. It’s stupid to me that the sharks want them to explain their software. Like do you want the cto to talk about the functions lmao
I d hate these guys to be honest but good luck. Come on!!! They are askimg the technology and all you say is “we connect this and that” how with what etc… It drived me crazy, cant even think about those 3 sharks
This just goes to show the dream is dead. If you come up with a great idea either you sell to a major or they squash you. It's said on shark tank all the time. The big boys have everything on lock
I've managed a couple of hotels in the past but it's very easy to book day rooms. There's usually no maid service in the evening so that room would stay dirty until the next morning. (maybe other do but nowhere i worked had it). There's always work arounds. These guys are useless
they didn’t have an answer for the sharks but instead of admitting that they just kept beating around the bush. horrible pitch, terrible entrepreneurs, great idea.
This is stupid. This takes zero factor in the cleaning staff needing to clean the rooms. That extra laundry and labor added to tje cost the negates the revenue made. There is a reason why no one does this.
i know this episode is ancient, but damn... what a HORRIBLE "bUsInEsS" idea. HORRIBLE. IDOTIC. i have NO sympathy for the ding-dongs who took it this far. i desperately pray that they tanked miserably, and maybe learned... something. not interested enough to google it.
Good if they're still in business. But while the big hotel chains won't do it (ofc they can if they want it), is because they chose a different route which is they're downsizing to 4-star hotels like Marriot introducing Fairfields few years ago to chase volume. It's nothing new tbh.
Update : In 2018, they expanded to cover over 450 hotels, 50% more than the 300 hotels they had partnered with during the filming of Shark Tank. However, their growth was slow as Mark had anticipated. In 2020, when the world came to a standstill with the COVID-19 outbreak, Hotels by Day suffered a significant loss.
Terrible idea. I’ve been taking loose women to various hotels for 6 hour increments during my last 20 years of marriage. You don’t need to book it online
I worked at a comfort inn a decade ago. We had a charge code of $59 for a "half stay" which was available from 10 am to 4 pm. Truckers used it all the time for a day nap, breakfast and shower. And this was a decade ago. These guys didn't invent anything.
They automated the process online. So you don't have to call the hotel
Don't think that was the point. They have by the hour at some places.
ok but $59 for a half stay is kinda pricey isn’t it?
@Louis-vk1gx depends on the market and who controls inventory
Only Truckers? And you sure it was only for a nap? 😅
You know, if Chris wasn't insufferable he'd be great for the Tank, he IS very smart
This was my first thought after watching this too. I’ve only seen the episodes where he’s combative, but when he isn’t being that way I actually feel like I learn a little about how to assess business better from him
Where the hell did they get that valuation? $7.5M for a business that has only generated $300k in revenue?
fairyland
From their company name. Hotels by day = daydreaming 😂
It makes me think they went into the tank knowing they aren't the first guys to do it, but want to ride the wave until the market proves itself better and decided to get free advertising on Shark Tanks platform until they are pushed out.
Seems like the joke is on you if they’re generating an annual income of roughly 5 million.
Now the company makes 5 million revenue.
“They gave no time and no opportunity to explain what we do”
Yes they did. A luxurious abundance of time and patience, sharks gave several chances for them to explain what their technology does that nobody else can/would copy and why. They failed to do so, then said “shame on them”. He failed then blamed others for his failure. Destined for mediocrity.
Precisely. Also add in the fact that the real meeting is actually anywhere between 30 minutes to over an hour per pitch and not just the condensed TV version.
Update: By May, 2021, they were only down 30% due to the “work from hotel” trend. With over 1500 participating hotels, they are the largest player in this niche. In June, 2022, the company has gone international with participating hotels in major European cities. As of August, 2023, annual revenue is around $5 million.
Hmm still small fish but not bad.
@@umbertlambert2113and what do you do 😂?!
@@_eaturveggies01 I am a tremendous individual. I change minds and lives. I am a faculty member in my college. I am a proud beholder of a PhD degree. There may be people who earn more than me, but no one (except a fellow faculty member) does the kind of research that I do. And how many college degrees do you have? I have three.
@@_eaturveggies01 Why was my response deleted?
@@umbertlambert2113 That's UA-cam, there's certain trigger words that don't make any sense to trigger a delete but they do. I get at least 40% of my posts deleted and they are non confrontational with zero profanity. I wouldn't even be surprised if this is deleted.
Always blame it on the sharks for YOUR inability to explain your own technology or product.
Great strategy!
I think they explained it alright, but the business model is of no interest to the sharks. The company is still working, so good for them. It's not a multi-national, multi-billion company, but it has survived so far.
@@LisaSimpsonRulesyou also have to realize the pitch is edited from an hour to 8 minuted so we can try to understand it. The pitch is probably more complicated than what we saw
@@starblaster321 Oh, yes. My point was that the sharks only invest in companies they think they can grow and grow. They don't want a business on which somebody can make a living--they want to earn big so that they can extract a big percentage in profits.
2:07 Chris Sacca's face here is hilarious, he previously got into a huge fight with Mark over a company claiming that their real-estate agent door lock couldn't be duplicated by other companies so these types of claims apparently tick him off.
we already have such services many years back and its typically used by men checking in with their mistresses in the day and be home for dinner in the evening!
In 2020, the global Covid-19 pandemic crushed their business. Bookings were down a whopping 82%. It turned out to be a blessing in disguise. As people worked from home, they got a little stir crazy - they wanted a quiet space. Many turned to this company and others (there are three other competitors to Hotels by Day and some hotel chains offer their own version of this service) to work in a hotel room instead of home.
By May, 2021, they were only down 30% due to the “work from hotel” trend. With over 1500 participating hotels, they are the largest player in this niche. In June, 2022, the company has gone international with participating hotels in major European cities. As of August, 2023, annual revenue is around $5 million.
Happy lunch, everyone
I just book my hotels directly with the hotel
One of the worst pitches I’ve ever seen.
5mil revenue now!
It really is a terrible pitch! Insane valuation, cringe performance, being unable to answer fundamental questions about their business and technology, their "technology" doesn't appear to be proprietary, they have tiny sales, then lastly blaming it on the sharks for not understanding! LMAO
Sharks gave them plenty of time to explain but they failed to do so; then said “shame on them.”
Chris: they didn't do anything to convince us
Kevin: And they're cockroaches
Did these guys seriously just try and scam several tech entrepreneurs lmao
Lori you’re wearing the same color as me for that reason I’m out.
Having worked in upmarket hotels I can tell you this won’t work. The rooms would have to be serviced, before and after a several hour stay, it is not worth it. There could never be a reliable number of available rooms ready at any given time. This has been tried for decades.
There are already day booking sites now, it's popular enough. It's not true what you said about it won't work
They literally are worth 5 million now. So clearly you worked but have no knowledge of how it works.
It wasn't even mentioned the staffing difficulties with having to flip rooms couple times within a day
Also - which is easier: Selling a room 3 times a day for $90 each or Selling one room one time for $270 🤯
You completely missed the point. Of course it's easier selling 1 room 1 x for $270, but they don't sell their system to these hotels. They're in a niche market.
Dayuse, resortpass have been doing this for a while too. I wish these guys all the best but I think the pitch failed. Another way that hotels monetize from unused inventory is they partner with companies like Way, where you can park your car at a hotel instead of an airport and pay cheaper parking, plus you get the shuttle service from the hotel to the airport so they're providing convenience. If someone wants to crack unused amenities in a hotel maybe go into the short term rental (rent hotel gyms, pools) instead of going to a gym since in my time traveling it looks like the gyms and pools are pretty open and I'm sure a hotel can make extra money renting it out (if it's not a Marriott or upscale hotel that doesn't want short term visitors). Swimply pulled off the short term pool rental for private homeowners so doing something with hotels might work.
IM THE CEO, CFO, CTO, CBO, CVO. CAO, CZO, CXO, COO!!!!
Me vs me on LinkedIn
Asking for a $7.5 mil valuation with less than 100k in sales? yeah right!
And only 14% of that is profit
It is not a "technology", it is a software solution. Trying to sell a software without any market share to sharks for $7.5M will not work, especially if the seller has just lost all his credibility.
Working in the industry, amazes me that they claimed that integrating to channel manager is proprietary tech
Go into ANY hotel and ask to book their day use fee. Thats it. Its literally a rate for at least 30 years in majority of hotels.
I still don't understand the product
I think it's that some hotels require (or required?) customers to purchase an entire day, so this service lets you borrow it for a part of a day?? I thought that has always existed but idk tbh, they did a trash job at explaining.
They were so close to being billionaires. If only they thought about over ight stays at houses.
lol crazy
It looks like the company is still in business, with $5 million in annual revenue. So it isn't a huge company, but they're still leading in their small niche.
What they're solving is indeed actually a problem, not just for business trips - let's say you're visiting a place whose nearest airport is a 4 hour drive. So you land at the airport, stay for a few hours, sleep in and then drive to your destination. In that case, this would be useful.
Mark and Robert did correctly spot the problems with their model, because they do understand technology. Sacca is an idiot who pretends he understands tech. He doesn't.
$5 million in bookings? They get 14% of that, about $70,000.
@@DigitalNomadInvestor might wanna pull out a slide rule or something
@@DigitalNomadInvestor 20% of 5 million is 1 million dollar, hope that helps you get closer to what 14% should be
Math aint mathing 😢
@@DigitalNomadInvestorim sorry what?i failed in algebra 3x in college,but this is so simple math and you did it wrong
The sudden "and they'd cockroaches" in the end killed me
Damn, I think Chris just surpassed Mr Wonderful for best company takedown in Shark Tank history on this one
Would’ve been interesting if the sharks asked what the money was for? Like 750k on what for that business? Lol
They might asked it but was cut out in the video
Usually business pitch in shark tank last for 40 mins to 2 hours
All these videos uploaded are just edited
They both wanted new luxury cars.... for the business of course 😀
@@joboilibres9593 oh wow I knew they were longer but didn’t know that long!
@@pauldavis5665 hahaha almost has to be something like that!
Maybe the sharks asked but we're edited out. But these fools asked for 750k, that's DOUBLE their revenue
In nyc and other big cities by the HOUR already exists. Maybe not for gigantic corporations, that would definitely be different, but wven here in the bronx we have beautiful hotels/rooms that you can rent by the hour. Maybe it would be better for IF the hotel couldnt fill alot if rooms on a given day or something.
Lori has no idea what they are talking about. Lol
"Be the best roach you can be" lmfao hahahahaaaa
They should rename it to “Awkward Amount of Time Station”…oh wait Dropout already did this, but better.
Despite the horrible presentation, Hotels by Day is still in operation and generates 5 million annually
IT IS CALLED in the hospitality industry: '' A WALKING"
I like the idea, especially since most hotels won't let you check in before 3 or 4. Other than the crazy evaluation what am I missing here? The only place I've seen this kind of thing lately is in airport day rooms/hotels.
This stuff already exists lol... it's called dayuse 😂
They sit empty for a reason. So they can be cleaned, replenished and if any engineering work needs to be done during those hours.
Chris sacca is very entertaining on this show
I'm sick of them interrupting Lorinall the time. So rude and condescending.
😂 Ride with the roaches
The model doesn't seem sustainable enough with how much data and analytics is growing all it takes is some investment for this to be developed
Honestly I am not sure why the sharks struggled to grasp this concept. This episode aired around a decade ago & I still cannot easily find day use hotel rooms. I have searched for hours looking for day use hotels and found only one website which offers it (maybe it was this company?). If the big guys wanted to do it, they would, but they haven’t and they won’t- at least for the foreseeable future, hopefully after these guys have already made bank for their hard work
I actually like this. They explained it and it made sense to me. If they get a software patent it’s a serious product. It’s stupid to me that the sharks want them to explain their software. Like do you want the cto to talk about the functions lmao
I d hate these guys to be honest but good luck. Come on!!! They are askimg the technology and all you say is “we connect this and that” how with what etc… It drived me crazy, cant even think about those 3 sharks
Is it this byhours app?
idk victor
My guys needed a visual to explain it.
lol day staying been a things for yearsssssssssssssssssss
lori had no idea about their technology
From what i can see online they are still in business.
This just goes to show the dream is dead. If you come up with a great idea either you sell to a major or they squash you. It's said on shark tank all the time. The big boys have everything on lock
Gotta be good enough they can't, these guys have patents but people can go around them and design it different.
Well u also got to remember most of those big boy companies started out small just like them.
Cool interesting idea ❤❤❤❤❤❤❤ ❤❤❤❤❤❤❤❤❤❤ ❤ ❤❤❤❤❤❤❤❤❤❤
I’m a use that product. I didn’t think anyone had that
I’m early 🎉
Hourly rates? 😂😂
I've managed a couple of hotels in the past but it's very easy to book day rooms. There's usually no maid service in the evening so that room would stay dirty until the next morning. (maybe other do but nowhere i worked had it). There's always work arounds. These guys are useless
Well Chris is incorrect, they are making 5mil in revenue annually now
they didn’t have an answer for the sharks but instead of admitting that they just kept beating around the bush. horrible pitch, terrible entrepreneurs, great idea.
Those were some great offers from The Sharks, they should have worked together.
If this one CTO can create a software program to book these rooms, then huge companies can create the same software program even better.
If a company like Expedia could make money off of this concept they would have a long time ago.
This is stupid. This takes zero factor in the cleaning staff needing to clean the rooms. That extra laundry and labor added to tje cost the negates the revenue made. There is a reason why no one does this.
That’s what I was thinking about oo
D GRADE 4 THOSE TWO STOOGES ...
Cool idea tho ❤❤❤❤❤❤❤❤❤❤ ❤❤❤❤❤❤❤❤❤ ❤ ❤❤❤❤❤❤❤❤❤❤❤
What a stupid business idea
What was the idea ?😂
So stupid that they only make 5 million a year
i know this episode is ancient, but damn... what a HORRIBLE "bUsInEsS" idea. HORRIBLE. IDOTIC. i have NO sympathy for the ding-dongs who took it this far. i desperately pray that they tanked miserably, and maybe learned... something. not interested enough to google it.
Chris Sacca is the worst shark by far.
I actually think he’s one of the best guest sharks ever.
@@KobyMorris-w5y Damn Chris, how many UA-cam accounts you got?
@@shawnd980lmao
@@shawnd980 lol
No he is not
I have seen this before. hmm
The big boys don’t have the technology to do this - does anyone know about this company or used it in 8 years, I don’t think so 😂
One Shark looks like Woody from Toy Story
If you want to see more iconic scenes from Shark Tank US, SUBSCRIBE to our channel! 🦈
What was Lori’s question? 😅
As of now, they generate $5 million in yearly revenue.
Cool ❤❤❤❤❤❤❤❤❤❤❤ ❤❤❤❤❤❤❤❤❤❤❤ ❤ ❤❤❤❤❤❤❤❤❤❤
Good if they're still in business. But while the big hotel chains won't do it (ofc they can if they want it), is because they chose a different route which is they're downsizing to 4-star hotels like Marriot introducing Fairfields few years ago to chase volume. It's nothing new tbh.
ฉันชอบ
Update :
In 2018, they expanded to cover over 450 hotels, 50% more than the 300 hotels they had partnered with during the filming of Shark Tank. However, their growth was slow as Mark had anticipated. In 2020, when the world came to a standstill with the COVID-19 outbreak, Hotels by Day suffered a significant loss.
Source?
No one asked what they will do with the money etc....
Chris Sacca is the worst guest shark tank ever had
sound sucks. do something. Multi-million company btw lol
"like the cockroach you are" 💀💀💀
lol
You’re not black Mark Cuban “ I’m out”
Chris is always so arrogant. Every episode he is in, he displays his know-it-all attitude and it's extremely off putting.
Lori kept getting cut off and she's the best shark 😭 clown sausage party of big fragile egos
Chris is ridiculous... Omfg
I have seen 80% off all shark tank episodes and these guys are the worst ever. They keep lying 🤥
Chris is so annoying on this show. His outfit is horrendous. I am going to be sick 🤢 Lori is beautiful, as per usual. For those reasons, I’m out.
He's kinda a dick but he asked a valid question and they didn't really have an answer for it.
Terrible idea. I’ve been taking loose women to various hotels for 6 hour increments during my last 20 years of marriage. You don’t need to book it online
This is trash
:)
50th comment
they are valued at 10 billion now
IN THEIR COCKROACH DREAMS
💩💩
Sixth comment
Sacca sucks !