Beyond TranquilityNET - An Interview With Karl Trausti

Tranquility Hospitality Management, an Icelandic startup best known for the upcoming TranquilityNET PMS platform, is growing at a fast rate due to early reviews that are proving the platform to be a real game changer for hotels. Even though TranquilityNET hasn’t launched yet, it has already raised over $280,000 from an Icelandic VC firm and over 300 hotels have already signed on to implement the platform as their main PMS software next year. After TranquilityNET finally launches, what’s next? We talked to Tranquility’s Karl Trausti about what his next plans were for the next decade.

​Q: What’s the next plan for the next 10 years?

KT: For now, we want to focus on TranquilityNET and work on expanding the features within the software. We want to have a function for everything and we know this is going to take time.

Q: So TranquilityNET will be your only piece of software?

KT: We think TranquilityNET will be our king software for a long time. We may launch smaller applications that utilize the same framework in TranquilityNET that may be better served to different industries.

Q: What different industries?

KT: Food, shops, airlines, you know. We think the capabilities in TranquilityNET shouldn’t be only confined to hotels although it is most definitely hotel-focused. We wouldn’t want to stay too far though when the time comes. For example, we could release a TranquilityFOOD platform for restaurants quietly that is simply a watered-down version of TranquilityNET. We could replace the room features with table or seating features. The possibilities are quite endless but we don’t want to move too quickly. Right now, hotels are our main focus.

Q: How many hotels are signed on to utilize TranquilityNET? 300?

KT: That was a number from May of this year. We have nearly 500 hotels in Iceland and the UK that are signed on to do beta testing for TranquilityNET and fully integrate TranquilityNET when the software goes into distribution. This is a big deal for us and we’re glad that these hotels can see the benefit of our software.

Q: Will Tranquility Hospitality Management ever open a hotel themselves?

KT: Besides TranquilityNET, we may decide to launch management operations into already-existing hotels that wish to outsource their operations. Many hotel owners are simply investors trying to make a profit. Many of them don’t know how to operate a hotel properly. We think that if we were to ever do something different, we may go this route. Nothing is for certain.

The long-awaited TranquilityNET platform launches in 2021 for hotels which is expected to capture over 15% of the worldwide hotel PMS market by 2030. For hotels around the world, the software could be a real breath of fresh air.