Patrick Bosworth

I think it's like 60 or 70 grand.

I mean, don't quote me.

I don't know the pricing.

But I think it's like $70,000 to go through an abbreviated program that then gives you full access to the alumni database.

You can put it on your LinkedIn and

and start kind of networking in that circle.

We are a hotel software company.

We leverage what I would refer to as medium data, not really true big data, but large data sets to help hotel managers at the property level make smarter decisions about their business.

Like what?

So our first product is pricing optimization.

So we pull in a bunch of different signals of demand at the market level and for that particular hotel and help them pick the right price for each customer segment, each channel, each room type for every day for the next 13 months.

And in general, that increases their revenue by anywhere from 6.5% to 8.5%, which increases their profit by...

75 to a hundred percent.

Most of it is just a subscription payment that's paid annually that's based on the product that they're buying and the number of rooms in the hotel.

We do have a performance kicker that allows us to get a share of the upside and helps align our risk with the client.

Surprisingly, hotel companies typically want that to be a small part of the deal.

Well, I think I thought particularly in the earlier stages of our company when we weren't as proven, I would have expected them to want us to take on more of the risk and then make money more on the upside.

But because of the fragmented nature of the hotel industry where you have a separate party that owns the property, another one that manages it, and then another brand that could be on the outside of the building—

getting alignment among those three parties can be pretty complicated.

And what they want is to know what their expenses are going to be and have a fixed price contract.