Shark Tank US | Hotels By Day's Entrepreneurs Struggle To Answer Chris Sacca's Questions

[@user-lx7sr]

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.

[@ROGERX007]

They automated the process online. So you don't have to call the hotel

[@mrhumble2937]

Don't think that was the point. They have by the hour at some places.

[@Louis-vk1gx]

ok but $59 for a half stay is kinda pricey isn’t it?

[@ROGERX007]

@Louis-vk1gx depends on the market and who controls inventory

[@tyrellcobb4665]

Only Truckers? And you sure it was only for a nap? 😅

[@iamsofaking6728]

“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.

[@Milacku123]

Where the hell did they get that valuation? $7.5M for a business that has only generated $300k in revenue?

[@nameundefinedname5307]

fairyland

[@jeremyexpiritu5668]

From their company name. Hotels by day = daydreaming 😂

[@dakshvora7186]

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.

[@crisskiss]

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.

[@umbertlambert2113]

Hmm still small fish but not bad.

[@_eaturveggies01]

@@umbertlambert2113and what do you do 😂?!

[@umbertlambert2113]

@@_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]

@@_eaturveggies01 Why was my response deleted?

[@teddym2808]

@@umbertlambert2113 That's KZbin, 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.

[@DOC_951]

Always blame it on the sharks for YOUR inability to explain your own technology or product. Great strategy!

[@LisaSimpsonRules]

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.

[@MatheusLB2009]

You know, if Chris wasn't insufferable he'd be great for the Tank, he IS very smart

[@matthewschannel6920]

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!

[@FaresOmara999]

One of the worst pitches I’ve ever seen.

[@EGarrett01]

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.

[@SaucinSerrano]

Happy lunch, everyone

[@dcal954]

I just book my hotels directly with the hotel

[@Adrian-lc6jq]

Did these guys seriously just try and scam several tech entrepreneurs lmao

[@KobyMorris-w5y]

Lori you’re wearing the same color as me for that reason I’m out.

[@GenerallDRK]

IM THE CEO, CFO, CTO, CBO, CVO. CAO, CZO, CXO, COO!!!!

[@PW-72648]

Me vs me on LinkedIn

[@MarkT923]

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.

[@wolfmangoland7972]

Sharks gave them plenty of time to explain but they failed to do so; then said “shame on them.”

[@Thesmellofrain-h6o]

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.

[@davidk7441]

There are already day booking sites now, it's popular enough. It's not true what you said about it won't work

[@17thwhiteprince]

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 🤯

[@unicornopia]

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.

[@JamesArthur-i9f]

Chris: they didn't do anything to convince us Kevin: And they're cockroaches

[@k.o.b.i.e.]

I still don't understand the product

[@makoota]

Asking for a $7.5 mil valuation with less than 100k in sales? yeah right!

[@davidboh1341]

Working in the industry, amazes me that they claimed that integrating to channel manager is proprietary tech

[@user-yt198]

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.

[@ronway7280]

They were so close to being billionaires. If only they thought about over ight stays at houses.

[@HassanAli-ps1ry]

lol crazy

[@akeljounesakel4001]

IT IS CALLED in the hospitality industry: '' A WALKING"

[@NotEddieBravo]

In Thailand, short time rooms are available everywhere per hour.

[@danielknight506]

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

[@prhwiz]

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

[@henrysmith2651]

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.

[@DigitalNomadInvestor]

$5 million in bookings? They get 14% of that, about $70,000.

[@Noble_Trades.]

@@DigitalNomadInvestor might wanna pull out a slide rule or something

[@faroukusuc9024]

@@DigitalNomadInvestor 20% of 5 million is 1 million dollar, hope that helps you get closer to what 14% should be

[@jonascauton8573]

Math aint mathing 😢

[@joboilibres9593]

​@@DigitalNomadInvestorim sorry what?i failed in algebra 3x in college,but this is so simple math and you did it wrong

[@yeah_right88]

I'm sick of them interrupting Lorinall the time. So rude and condescending.

[@jashanbrar8668]

Chris sacca is very entertaining on this show

[@Rxjia]

Would’ve been interesting if the sharks asked what the money was for? Like 750k on what for that business? Lol

[@joboilibres9593]

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

[@pauldavis5665]

They both wanted new luxury cars.... for the business of course 😀

[@Rxjia]

@@joboilibres9593 oh wow I knew they were longer but didn’t know that long!

[@Rxjia]

@@pauldavis5665 hahaha almost has to be something like that!

[@MatheusLB2009]

Maybe the sharks asked but we're edited out. But these fools asked for 750k, that's DOUBLE their revenue

[@iceswitchy]

lori had no idea about their technology

[@Troiler]

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

[@AdamSternberg]

If a company like Expedia could make money off of this concept they would have a long time ago.

[@akashdey]

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

[@victorneira8865]

Is it this byhours app?

[@garbygarb31]

idk victor

[@ROGERX007]

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

[@mrhumble2937]

Gotta be good enough they can't, these guys have patents but people can go around them and design it different.

[@traderzzz123]

Well u also got to remember most of those big boy companies started out small just like them.

[@aaronramirez2610]

Those were some great offers from The Sharks, they should have worked together.

[@luisburch392]

I’m a use that product. I didn’t think anyone had that

[@patsgarage8593]

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

[@mrhumble2937]

From what i can see online they are still in business.

[@tyrellcobb4665]

Chris Sacca is the worst shark by far.

[@KobyMorris-w5y]

I actually think he’s one of the best guest sharks ever.

[@shawnd980]

@@KobyMorris-w5y Damn Chris, how many KZbin accounts you got?

[@vegapreferred9344]

@@shawnd980lmao

[@handfuloflight]

@@shawnd980 lol

[@brandondavenport6147]

No he is not

[@asimally9468]

D GRADE 4 THOSE TWO STOOGES ...

[@heshamsaleem]

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.

[@jtjt4736]

lol day staying been a things for yearsssssssssssssssssss

[@benkoh9720]

Despite the horrible presentation, Hotels by Day is still in operation and generates 5 million annually

[@edivadR]

One Shark looks like Woody from Toy Story

[@DigitalNomadInvestor]

If this one CTO can create a software program to book these rooms, then huge companies can create the same software program even better.

[@chefjeff1366]

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.

[@kblues80fleisher20]

I have seen this before. hmm

[@mathew3267]

What a stupid business idea

[@Swazup14]

What was the idea ?😂

[@Brave805]

So stupid that they only make 5 million a year

[@donmesut9587]

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 😂

[@hamzasyed5774]

This stuff already exists lol... it's called dayuse 😂

[@suzukimemories]

sound sucks. do something. Multi-million company btw lol

[@calgaryguyyyc]

Hourly rates? 😂😂

[@aggproduction5704]

Chris Sacca is the worst guest shark tank ever had

[@TomRelic]

No one asked what they will do with the money etc....

[@lakshmikarthikeyan6084]

Cool idea tho ❤❤❤❤❤❤❤❤❤❤ ❤❤❤❤❤❤❤❤❤ ❤ ❤❤❤❤❤❤❤❤❤❤❤

[@MrGQStatus]

What was Lori’s question? 😅

[@LordAbaddon]

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.

[@jbenz1990]

That’s what I was thinking about oo

[@Anlazo]

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.

[@lakshmikarthikeyan6084]

Cool interesting idea ❤❤❤❤❤❤❤ ❤❤❤❤❤❤❤❤❤❤ ❤ ❤❤❤❤❤❤❤❤❤❤

[@lakshmikarthikeyan6084]

Cool ❤❤❤❤❤❤❤❤❤❤❤ ❤❤❤❤❤❤❤❤❤❤❤ ❤ ❤❤❤❤❤❤❤❤❤❤

[@DrawdownTrader]

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.

[@Voice_at_heart]

Source?

[@AlexDeLaO-kd1yi]

You’re not black Mark Cuban “ I’m out”

[@Bobzt2]

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.

[@yggunshot8402]

He's kinda a dick but he asked a valid question and they didn't really have an answer for it.

[@fistofdagoldenmonkey2988]

"Be the best roach you can be" lmfao hahahahaaaa

[@fabiusfidibus]

Chris is ridiculous... Omfg

[@HiddenAgendas]

they are valued at 10 billion now

[@mrbrokiee]

IN THEIR COCKROACH DREAMS 💩💩

[@jakemiles4470]

I have seen 80% off all shark tank episodes and these guys are the worst ever. They keep lying 🤥

[@NightfallBS]

I’m early 🎉

[@danielpando5899]

This is trash

[@shockmaster1929]

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

[@michaeljohndadd545]

50th comment

[@michaeljohndadd545]

Sixth comment

[@SPTV]

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[@richardcalisi9188]

Sacca sucks !