Irish hotel tech company Avvio is joining forces with US private equity backed Sceptre Hospitality Resources (SHR).
Details
Serent Capital sponsored the acquisition of Avvio through SHR.
Headquartered in Limerick and founded in 2002, Avvio provides technology to over 500 hotels around the
world and powers over £400 million in transactions every year via its AI powered booking engine, allora.ai.
Headquartered in Houston, Texas, SHR is a revenue generating platform that helps hotels execute revenue generation strategies through its central reservation (CRS), customer relationship management (CRM), and revenue management (RMS) systems. It supports over 1500 independent, group, casino and long-stay hotels, manages 6.6 million reservations, sells 19 million room nights, and drives £2 billion revenue per year through its Windsurfer CRS.
Serent Capital is a growth-focused private equity firm that invests in founder-led enterprise software and tech-enabled services companies. It has over £4 billion of assets under management.
Statements
Avvio CEO Frank Reeves said, "The coming together of Avvio and SHR creates a company that's far more than the sum of its parts. Like myself, SHR's CEO, Rod Jimenez, is a long-time entrepreneur and understands success is built around over-delivering for your customers every single day. Both businesses have innovation in their DNA and a real challenger mindset. I can't wait to see what we can achieve together."
SHR CEO Rod Jimenez added, "Both SHR and Avvio are much loved brands that are passionate about providing world-class revenue generating technology solutions to independent and group hotels who want to deliver the best brand-led experience to their guests in the most profitable way.
"We're excited to introduce the power of allora.ai into the SHR Windsurfer CRS - and combining it with SHR’s AI enabled Maverick CRM and Wave RMS solutions. Together they will deliver an incredibly personalized customer purchase journey at every stage in the customer lifecycle.
"SHR and Avvio have complementary global customer footprints, products and sales teams across North America and Europe, which will fuel scalable global growth backed by significant local knowledge and incredible customer support. Together, I have no doubt that we can become the first-choice provider for forward-thinking hotels around the world who really value customer experience."
