HundredRooms says its profitable and hiring

17 Oct 2017

Spanish vacation rental aggregator HundredRooms.com denied newspaper reports that it is in a financial crisis. It released a statement late today, saying it is profitable in all its markets and is hiring new staff.

The company statement is a vigorous denial of an El Confidencial report alleging HundredRooms had laid off half its staff and is on the verge of running out of cash.

It “unequivocally” rejected the claims and insinuations in the article, namely that HundredRooms had burned through some €11 million ($12.9 million U.S.) of investment funding.

The statement, which the AIM Group received from HundredRooms COO Jorge Cuneo Fokkelman, said the only “objective and certain” fact in the El Confidencial story was that HundredRooms is restructuring its team. According to the statement, there were various reasons for this, including “strategy/optimization, letting individuals go who did not meet company expectations, and [letting go] volunteers”.

Jorge Fokkelman, COO of HundredRooms, says the business has the full backing of all investors (photo from his LinkedIn page with thanks)

It added that the company is still hiring and it currently has eight vacancies. Start-up hub AngelList lists seven job openings at HundredRooms: one backend developer and six region-specific marketing assistant roles.

HundredRooms further stated it is profitable in each of the markets in which it operates — Spain, France, Germany, the U.K., Mexico and Italy — and “is near to achieving global profitability”.

The key claim in El Confidencial’s report was that HundredRooms had lost the confidence of its investors, including major Spanish players Seaya Ventures, Mediaset, and Media Digital Ventures. In its response, HundredRooms said its investors “unequivocally deny” holding the critical views ascribed to them by the article. And that they had not been contacted by the article’s author, or anyone from El Confidencial, and were “indignant” at having been represented as sources of inaccurate information.

HundredRooms did not respond to the claim it had left its Madrid headquarters and is operating solely out of Palma de Mallorca.

Recently lauded as one of Spain’s top start-ups, HundredRooms has, thus far, given every impression of being successful.

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Cila Warncke

Cila joined AIM Group in 2014 as writer/analyst for Spain. An Anglo-American living in Ibiza, she brings extensive international writing and consulting experience to the role. Educated at University of Pennsylvania (BA) and Glasgow University (MLitt), she has worked for wide range of consumer and B2B publications and companies in Europe and the USA, writing on topics ranging from marketing to travel to music to ultra-marathoning. She uses her writing, research and analytical skills to help clients tell their stories, grow their business, reach new audiences, build loyalty and exploit new media channels. Cila is also an award-winning essayist, creative writer and founder of Creative Writing Ibiza.