Boom wants AI to revolutionize property management

What is your 30-second pitch?

Boom is the first AI powered property management system in the world. It has been designed to revolutionize short-term rental by maximizing profitability and efficiency. Boom’s AiPMS was designed by property managers with a deep understanding of the challenges faced in running short-term rental properties, aparthotels, and boutique hotels. It is a cutting-edge AI pilot. It acts like a virtual employee, automating day-to-day tasks and allowing managers more time to focus on strategy and growth.

Describe your startup’s business and technical aspects.

Business: Boom is a SaaS provider designed by property managers for property managers. We have developed a single solution for short-term management. Our AiPMS automates all operations, increases productivity and relieves managers of the burden.

Technology: Boom’s AiPMS automates and optimizes all aspects of property management. It includes:

• AI-driven Task Automation: Assigns tasks and tracks them in real time for housekeeping, operations and maintenance.
• Smart guest communication: Multi AI agents handle new bookings as well as check-ins, and provide support in the guest’s language and style 24/7.
• Review management: AI will read and tag guest reviews. It will respond empathetically and create follow-up tasks.
• AI-driven dynamic pricing optimization: AI analyses market trends and occupancy data in order to maximize revenue.
• Real-time financial insight: Tracks revenue and expenses, and provides a real-time overview to managers and owners. It also offers predictive analytics.
• Fully automated bookings and seamless integrations with smart devices, booking platforms and staff tools.

SWOT (Strengths and Weaknesses Analysis, Opportunities and Threats) the company.

Strengths:

• Boom’s AI is not retrofitted but integrated.
• Boom’s team has extensive experience in property management and can offer a unique approach.
• AI allows for better personalization of the guest experience, detailed reporting keeps owners informed and makes staff happier.

Weaknesses: 

• Boom is still a newcomer, so it needs to do more to reach out to potential clients.
• Local regulations can make it difficult for Boom’s team to onboard clients in new areas, but AI speeds up this process.

Opportunities: 

• Demand for efficient property-management software that eliminates the need to use a complex tech stack.
• Structures that put innovation first allow for rapid adaptation of new technology.

Threats: 

• AI is being integrated into some legacy PMS platforms.
• The short-term rental industry is volatile and the regulations are constantly changing. It’s important to adapt and integrate the software.

What are your travel pain points, from the customer’s and industry’s perspective?

Boom automates guest communication, task management, reports and more for property managers. The short-term rental market is the most difficult asset class in real estate to manage: properties are decentralized and non-uniform, and guests expect five star service at all times. Small teams that are stretched thin can benefit from AI taking on simple tasks, allowing them to focus more time on strategic work and more complex cases. For guests, Boom offers high levels of personalization and lightning-quick responses to questions and queries, all while delivering a seamless, high-quality experience — eliminating issues like waiting for maintenance or unclear check-in instructions.

How will you attract customers to your product?

In our experience, a demo of Boom’s functionality is all that it takes to bring a new customer aboard. Our strategy is to reach property managers that are unhappy with their existing tech stack and who are interested in AI. This includes attending conferences, digital advertising, and boosting Boom’s profile via media and speaking engagements as well as through social media. Boom’s biggest ambassadors are its clients. They recommend us to other managers and are happy for them to take part in case study to share their amazing growth with Boom.

Boom was born from a real-world need: our cofounders managed a portfolio of $150 million in vacation rentals. They have first-hand experience with the complex challenges that property managers face. Consultations with top brokers, investment funds, and STR operators proved that there was a real market need for a solution that is AI-driven. Boom’s innovative AI approach is always at the forefront as the STR market continues to grow.

When and how will you earn money?

Boom uses a SaaS model with different options for upsells, depending on what the property manager needs. These include data models, multiple AI Agents and guest upsells in the marketplace. Boom is different from other software companies because it charges a flat rate per property, rather than a commission. This means there are no nasty surprises. The beauty of an AI-focused startup is that Boom – like its customers – is able to operate with a pared-back team, saving costs and increasing output. We expect to become profitable within a single year.

What are your backgrounds and previous accomplishments?

The brothers Shahar, Moran and Alon Goldboim founded Boom. Shahar and Alon previously managed a short-term rental portfolio worth $150 million in South Florida. Shahar is a real estate investor and broker with years of experience. He also manages a $50 million portfolio of real estate and vacation rentals. Moran, a product designer with a passion to use AI to solve real world problems, and Alon, a software engineer who has worked in the industry for years and knows what great software should deliver.

How do you deal with diversity and inclusion?

Boom is a global business with employees on three continents. We hire the best talent, regardless of their location. We use a remote-first approach that allows us bring together diverse perspectives from different cultures and time zones. We also believe that AI provides staff with flexibility, so we use it in both our product and our operations.

What has been the hardest part of establishing your business so far?

Boom has grown at a breakneck pace since we launched. We have to be flexible and handle a number of things simultaneously: running a business strategically and bringing funding, while operating a growing firm and dealing with client-onboardings, sales, as well as various other issues which arise along the way. One challenge that we’ve found is that as we’re growing faster than any other STR company, we’re also expanding geographically and every territory needs its own solutions — quickly. Travel startups have a hard time making an impression. So why will you be one of the lucky ones?

Boom has a true product-market fit — we know because we’ve been property managers ourselves. We solve real problems and offer a single-stop solution for property managers to boost their efficiency. The uptake we’ve had so far has been impressive — it’s clear that there’s a thirst for AI-centric solutions in this industry. We also apply this innovative spirit to our operations. We are agile and plan to develop more exciting and original tools over the next few months.

What state do think your startup will have reached in a year’s time?

We want to dominate short-term rental technology! We will continue to innovate, increase our market share, and make our customers happy. All of this will keep us at the top as the fastest-growing STR Software company.

What is the end-game for you?

Going public, acquisitions, growing and remaining private, etc. Boom is built to scale and has the goal of being the industry standard for STR Management. The ultimate goal? Publicly announcing and leading the AI driven transformation of the STR sector at a global scale. The real estate industry will be our oyster from there. We’ve already created a system to handle the complexity of the most difficult part of real estate. Now, we can transform the way that people live in any kind of property around the world.