Hostel booking platform Hostelworld has announced a strategic investment in a technology company based in Sydney, Australia.

Tipi Pty provides technology solutions exclusively to the hostel market, enabling guests to check-in and download their keys prior to arrival.

For hostel owners, this streamlines check-in, lowers staff overheads and creates a mobile community to engage more effectively with their guests.

During their stay, guests can meet other people staying at the same time, see what's on at the hostel and browse local experiences – increasing ancillary revenue and improving guest satisfaction scores.

Hostelworld said the investment is in line with its strategy to partner and invest in innovative technology businesses within the hostel market, improving the experience for both guests and hostel owners.

As part of the investment, Hostelworld will support the business to achieve its ambitious growth plans and allow Hostelworld to provide smart technology solutions to its global hostel customer base.

Tipi Pty customers will also have access to Hostelworld inventory, allowing them to make their next booking after check-out and move seamlessly between the two platforms, whether this is to engage directly with other guests, the hostel or book ancillary activities.

Gary Morrison, CEO of Hostelworld, said: "I'm pleased to announce our partnership with Tipi Pty Ltd, which will enable our hostel partners to provide a sophisticated and integrated digital check-in solution, which we believe is a compelling differentiator for our hosteller customers.

“The investment is in line with our strategy to invest in innovative technology businesses, to improve the experience for our hosteller customers and drive efficiencies and ancillary revenue for our hostel partners, positioning us as a market leader in the hostel sector."

Jack Bowcott, CEO of Tipi Pty, commented: "We are delighted to be partnering with Hostelworld. They are the go-to platform for hostel travellers and have a key focus on investing in the best technology for the hostel market.

“We started Tipi Pty Ltd with the mission of making hostels smarter and guests happier. This investment brings us one step closer to achieving this objective, with the opportunity to bring our smart technology to a wider audience of hostels.

“We are extremely excited to partner with Hostelworld and work together to deliver on our ambitious global growth plans."