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Worldwide: Revenue management software Duetto has acquired financial benchmarking platform HotStats.
While terms of the transaction were not disclosed, the entire HotStats team will be joining Duetto as part of the deal.
HotStats provides hotel owners, operators, and investors with insights into the financial performance of their properties against competition.
The company’s acquisition by Duetto will help to unify revenue streams – including rooms, food and beverage and ancillary services – under one platform.
“We’re thrilled to welcome HotStats into the Duetto family,” said David Woolenberg, CEO of Duetto. “By augmenting our existing suite of solutions with HotStats’ industry-leading financial benchmarking data asset, we’re able to deliver the industry’s most comprehensive solution for driving revenue and profit optimisation. Together, we will reimagine what’s possible for hotel revenue and profitability.”
Duetto supports more than 6,300 hotels, casinos, and resorts globally. The platform leverages real-time data, predictive analytics, and automation tools to optimise pricing and revenue strategies for its clients. The company acquired by private equity firm GrowthCurve Capital last year.
Michael Grove, CEO of HotStats, said: “Duetto’s commitment to reshaping revenue and profit optimisation resonates strongly with our complementary focus on actionable financial insights. We see enormous potential in joining forces, extending our impact to help hotels identify opportunities to improve efficiency, better meet customer demand, optimise profitability across every facet of their operations.”
Jonathan Langston, founder and retiring chairman of HotStats, added: “HotStats has long been a pioneer in profitability benchmarking, and it is only fitting that the next stage of its evolution will be with an equally visionary hospitality technology provider.”
Houlihan Lokey served as financial advisor and Orrick, Herrington & Sutcliffe served as legal counsel to Duetto. Gately plc served as legal counsel to HotStats.
