Hostaway, a leading provider of vacation rental property management software based in Canada, has named Ken Weary as its new Chief Operating Officer (COO) to bolster its growth initiatives across North America and Europe.
Weary, formerly the COO of Hotjar, brings with him extensive experience in overseeing internal HR, legal, finance, and business operations. During his tenure at Hotjar, he played a pivotal role in driving revenue growth by a remarkable 20-fold. Notably, he successfully scaled teams from 14 to over 400 employees, spread across more than 45 countries, in a fully remote work environment.
Taking the helm as COO, Weary will assume his responsibilities immediately. This transition comes as Hostaway’s co-founder Saber Kordestanchi steps into the role of Chief Strategy Officer, marking a strategic move for the company.
Marcus Räder, co-founder and CEO of Hostaway, said: “As an accomplished international software-as-a-service [SaaS] executive and operations leader specialising in scaling B2B companies to new heights, we are excited to welcome Weary to the Hostaway leadership team. His hands-on experience in end-to-end mergers and acquisitions [M&A] transactions is also extremely relevant as we begin to assess takeover targets following our recent investment round.
“With a laser focus on the needs of our customer base, Hostaway has continued to go from strength to strength. We are very excited to continue to expand our product and services under Weary across all global markets to better serve the property managers and host and increase our market share,” he added.
Hostaway’s recent capital raise of $175 million in May last year has positioned the company for accelerated growth, with an ambitious target of achieving $100 million in annual recurring revenues. Additionally, the addition of Ashley Milton as CFO underscores Hostaway’s dedication to its next phase of expansion.
As a comprehensive vacation rental software solution tailored for property managers, Hostaway offers seamless integrations with top partners such as Vrbo, Booking.com, and Airbnb, along with access to a diverse marketplace of over 150 software partners.
Hostaway COO Ken Weary said: “Since its founding, Hostaway has focused on its customers. They’ve innovated and maintained a strong focus on financial fundamentals and personal accountability. As a result, their revenue has increased, and their team has grown to keep up with customer demand, all while remaining profitable.”
“I am thrilled to join a team that navigates challenges with agility and values the future of work by embracing a 100 per cent remote working model. Hostaway’s story is a testament to what’s possible when companies adapt, prioritise their customers, and remain committed to the things that really impact business results,” he added.
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By Proptechbuzz
By Ravi Kumar