Date: Thursday 17th November, 2022
Irish hotel tech pioneer Avvio is joining forces with US private equity backed Sceptre Hospitality Resources (SHR). The move brings together two of the industry’s most dynamic, entrepreneurial companies and follows Serent Capital’s investment in SHR in 2020. Serent Capital sponsored the acquisition of Avvio through SHR to create a technology powerhouse for independent hotels and chains with unrivaled customer support across the world.
Headquartered in Limerick, Ireland, and founded in 2002 Avvio has been a pioneer in hotel technology for 20 years. In 2017 it launched the world’s first AI powered booking engine, allora.ai. Today allora.ai provides technology to over 500 hotels around the world and powers over £400m in transactions every year.
Headquartered in Houston, Texas, SHR is a revenue generating platform that helps hotels execute their best revenue generation strategies through its tightly integrated 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.
Avvio’s CEO Frank Reeves explained: “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’s 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.”
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Notes to Editors:
Headquartered in Limerick, Ireland, and founded in 2002 Avvio has been a pioneer in hotel technology for 20 years. In 2017 it launched the world’s first AI powered booking engine, allora.ai, that leverages the power of data science to tailor unique booking-to-check-in experiences for discerning guests. Avvio has offices in Ireland, the UK and the United States. The company’s technology is in use with more than 500 hotels worldwide and handles more than 400 million bookings and £400m transactions annually.
Headquartered in Houston, Texas, with offices in Europe and Asia-Pacific, SHR, Sceptre Hospitality Resources, is a leading provider of meaningful technology that helps hotels execute their best revenue generation strategies. With a history of innovation starting with Windsurfer® CRS, Maverick CRM and RMS capabilities, SHR serves thousands of properties around the globe with an evolving suite of AI-driven solutions, ranging from high-level distribution to intricate guest management. In addition, the company offers Revenue Management tools to brands, chains, and management companies.
SHR supports 1500+ independent, group, casino and long-stay hotels, manage 6.6M reservations, sell 19m room nights and drive £2 billion revenue per year through its Windsurfer CRS, CRM and RMS.
About Serent Capital
Serent Capital invests in growing businesses with compelling solutions that exceed customer needs. As businesses grow and evolve, the opportunities and challenges they face change with them. The principals at Serent Capital have firsthand experience navigating growth through their experiences as CEOs, strategic advisors, and board members to successful businesses. Serent leverages their expertise and capital to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com