Holidu boss Siebers: these are the ultimate crisis tips from the flagship founder

Holidu has managed to look better after the pandemic than before. This has recently also convinced investors. Holidu CEO Johannes Siebers talks about his tips and secrets for founders.

Johannes Siebers is hard to miss with his wispy hair, which he always strokes when he needs to think. Together with his brother Michael, he founded Holidu in 2014 and has since built it into one of Germany's largest travel portals. He and his brother have used the crisis, of all things, to grow. He explains in an interview how they did it and what he advises other founders.

Mr. Siebers, how did the past year start for you?

Really well, at the beginning of February we had 100 open positions, we wanted to take off and then had to do a real full brake because of Corona. The situation was frightening: How long does the pandemic last, six months or rather years? We then had no more booking turnover and it was clear that the reserves would not last forever. We sent an email directly to the shareholders: Watch out, this could be tough.

What was your next step?

We thought about what our goals were. It sounds trite, but we didn't want to make any rash decisions. I think it also saved us from making mistakes that other companies or startups in our space have made that may not have grown as much or at all in the past year.

A lot of travel companies have made massive layoffs in the past few months, missing out on crucial months of growth. We have adopted a completely different strategy

Johannes Siebers, Holidu

The travel industry has been hit particularly hard by the pandemic. Nevertheless, Holidu has grown. How so?

Many travel companies have made massive staff cuts in recent months, missing out on crucial months of growth. We have adopted a completely different strategy by going into a kind of hibernation for two months, sending everyone into maximum short-time work and, for example, senior management has also waived salaries or voluntarily reduced pay. In this way, we were able to retain all employees. When things got going again in the summer, we were able to benefit from this and quickly returned to the previous year's level and then even shot up above it. In addition, with holiday apartments and holiday homes, we have focused on one of the most stable segments of the industry.

How did the employees take the hibernation and the uncertain time?

It was well received. Of course, it was uncertain for all of us how things would continue. Everyone stayed on board, despite the difficult time. That was a big help because we were able to scale so quickly when people went on vacation in the summer. Of course, it also helped that vacation homes and vacation rentals tend to be considered safer than hotels.

What was the most important rule for the leadership team during this time?

Transparency. We explained all the figures in great detail and explained how long our reserves would last, depending on what steps we take now. It was precisely because we were so open that our employees understood this well. In my opinion, that works better than working something out behind closed doors and presenting it to them. We already live this at Holidu anyway and during the crisis the positive effect of this has been amplified.

You have already raised new capital for the first time in the summer of 2020. Why?

At that time, it wasn't just about the money for us, because we were already growing profitably at that time, but also about the investor. Kees Koolen used to be CEO of Booking.com, so he knew the crises in the travel industry from 2001 and 2008/2009. Of course, he can also give you important tips, so it's important to have people like that around you. I would also recommend this to other founders.

The most important rule: Make a plan.

Johannes Siebers, Holidu

You recently raised an additional 37 million euros from investors. Was that necessary after the tough months?

But we made a conscious decision to do so, so that now, when things get going, we are in a really good position and can secure market share. That's the difference between us and many other companies that have tended to lay off employees and start very quietly. We even see the possibility for acquisitions, but I can't say more about that yet.

What advice would you give to other founders?

The most important rule: make a plan. If you have a plan that you can stick to, it helps immensely. If we hadn't stuck to the plan, we probably never would have grown as fast or at all.

Where are you going on your first vacation after this pandemic?

We're taking the whole family to Italy to a vacation home, my brother is getting married there.

Thank you very much for the interview.

Personal details: Johannes Siebers founded Holidu GmbH with his brother Michael in 2014. The Munich-based start-up operates an online platform that compares holiday homes and apartments. Holidu is financed by fees paid by the providers.