Tech-Enabled vs. Tech Company: How Silkhaus Leverages Technology to Scale and Innovate

As the Head of Product at Silkhaus, I’m often asked whether we consider ourselves a tech company. The answer isn’t as straightforward as it might seem. While technology is at the core of everything we do, our identity lies in being a tech-enabled business rather than a pure tech company. This distinction is fundamental to understanding how we innovate, scale, and create value in the short-term rental industry.

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Tech vs. Tech-Enabled Company: What’s the Difference?

A tech company is one where the core product is a digital solution—an app, platform, or software—that generates revenue & value directly. Think of companies like Spotify or Zoom, where the digital product itself is the business.

In contrast, a tech-enabled business uses technology as a key enabler for delivering a physical product or service. 

Our core offerings at Silkhaus combine it all: 

1. Physical Product: Best-in class apartments that exceed the expectations of modern travelers.

2. Service Product: Property management and concierge services that ensure high earnings and seamless stays.

3. Digital Product: Tools like our Owner Portal,Silkhaus  booking website and our channel integrations  that enhance visibility, streamline processes and drive bookings.

We rely on technology to provide these offerings at scale and with consistency, but our value extends beyond the digital interface. If it’s true that our technology fuels efficiency, enhances customer experience, and drives operational excellence,  the end product is ultimately a well-managed, high-quality living space.

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Silkhaus’ Tech Principles: Build vs. Buy

At Silkhaus, every tech decision is guided by a fundamental principle: evaluate build vs. buy based on business returns and customer value.

1. Leverage Third-Party Tools: We don’t aim to reinvent the wheel. The market already offers robust tools like property management systems (PMS), payment processors, and channel managers. Instead of building these from scratch, we adopt best-in-class solutions and focus on integrating them seamlessly into our ecosystem.

2. Build Proprietary Solutions Where It Matters: Our focus is on areas where we can truly differentiate and create value for customers:

   • Customer Experience: Building intuitive interfaces for owners and guests.

   • Pricing and Revenue Management: Developing algorithms that adapt to local market trends and drive profitability.

   • Operational Visibility: Providing real-time insights for our field operations team.

   • Communication: Ensuring seamless interactions during the entire journey

By balancing “build” and “buy”, we’re able to scale rapidly without wasting resources on redundant development efforts.

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How Silkhaus’ Technology Powers Our Business

From acquiring a property to delivering a five-star guest experience, technology is embedded in every step of our process:

• Acquisition and Onboarding: Integrated systems guide real estate assessment, document finalization, and handover to ensure properties are ready to go live efficiently.

• Distribution and Demand Generation: Our integrations with multiple booking channels ensure broad visibility, while dynamic pricing algorithms optimize revenues and occupancy based on market trends.

• Operations and Maintenance: Automated workflows within our PMS generate tasks for cleaning, quality checks, and guest interactions, allowing us to manage 500+ units across three cities with ease.

This ecosystem of third-party tools, enhanced by our custom integrations, creates a seamless and scalable operation that’s unmatched in the industry.

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Innovating Where It Counts

Our proprietary tech is built where we need to address gaps and reimagine processes that deliver differentiated value and position Silkhaus at the forefront of the industry. For example:

• Owner Portal: Giving landlords real-time insights into property performance, ensuring transparency and trust, we ensure satisfaction and delivery of top performances and revenues

• Custom Integrations: Bridging tools in a way that creates a unique ecosystem tailored to our needs and those of our customers allows us to be the best-in-class accommodation service in the Short-term rental panorama.

And much more…These innovations are not just about technology for technology’s sake; they’re about enabling growth, scale, and better outcomes for both landlords and guests.

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The Secret Sauce: Integration and Ecosystem

So this is what Tech-enabled means for Silkhaus - the real magic lies in the integrations we’ve built. By combining off-the-shelf tools with our proprietary in-built systems, we’ve created a unified platform that streamlines operations, enhances customer experience, and delivers measurable value at scale.

By embracing this tech-enabled identity, we’re not just keeping up with the market—we’re defining its future.

As you reflect on Silkhaus’ approach, I challenge you to consider what "tech-enabled" means in your own industry: do you believe that technology has truly created a seamless experience for your customers, as we aim to do at Silkhaus? 

Are there areas where you could leverage tech to enhance both efficiency and customer satisfaction, without losing sight of the human touch that makes your service stand out? 

As we continue to innovate, we invite you to explore how technology can empower your business to scale, evolve, and provide unmatched experiences.