Travel technology acquisitions continued at a sustained pace with key deals highlighting the need and demand for certain technologies that could help drive market growth. Statistics from the US Travel Association indicated that air passenger volume grew at a subtle 6% for the first part of the year, falling well short of the double digit growth the industry saw in 2023. Post-pandemic ‘revenge’ travel may be slowing as inflationary pressures and dicey global economics have slowed leisure travel spending. Companies that provide technology for corporate and group travel solutions could also be in play as demand from that category chugs along at almost 10% growth over last year (US Travel Association). Technology that can give travel providers and companies an advantage will be the focus for 2024 as competition in the marketplace becomes fierce as leisure travel clients pull back on the purse strings and focus on value when spending vacation dollars.

Boosting the Bottom Line Through Revenue Management Software

Multi-property hotel and resort chains depend on technology to manage the revenue generating aspects of the business. Duetto provides leading edge and expansive revenue management software for multi-property brands. The company was recently acquired by private equity company Growth Curve for an undisclosed amount. Duetto’s technology has a vast array of capabilities and delivery functionalities through separate solutions::

GameChanger – a technology that maximizes hotel room revenue with dynamic and real time outputs
ScoreBoard – a forecasting and business insights tool
BlockBuster – a solution designed to improve and maximize group category revenue

Duetto’s technology is highly in demand and the recent acquisition is no surprise as hotel and casino chains look for ways to maximize client opportunities and increase marketing reach in a highly competitive marketplace. Duetto will focus on AI technologies to complement its existing set of revenue management solutions.

The Access Group Expands its Hospitality Portfolio with SHR Acquisition

Looking to increase their hospitality portfolio, The Access Group has recently acquired travel technology provider SHR Group and their suite of hotel and casino management software. The London based global software management company will increase its US presence through SHR Group’s existing line of business and can now offer products to large hotel and casino chains. SHR Group’s lineup of technologies offers functionality and support for the operational side of the hotel business. Some of the company’s core solutions are:

Central Reservation Systems
Booking Engines
Customer Relationship Management technologies
OTA Direct Connect

The Access Group’s hospitality division acquired Guestline, another property management technology, last year and will expand its capabilities with the inclusion of SHR Group’s vast array of hospitality solutions.

Accor Group Deploys New CRS

Many hotel chains and companies put off upgrading internal technologies in the face of the COVID-19 pandemic but as demand ramps up to 2019 levels, upgrading internal technologies and external booking engines will be essential to keep up with the increasing volume. Accor partnered with Amadeus for a new central reservation system to improve customer experiences and increase bookings. Accor mentioned that Amadeus’s platform offered advantages and benefits that would drive business for the French hotel chain. The Amadeus Central Reservation System (ACRS) uses an proprietary API system to connect brands to the platform making product migrations fast and efficient. ACRS can integrate with existing revenue management infrastructure, reducing setup and down time. Accor’s integration into ARCS is sure to drive revenue by maximizing offerings and elevating customer experience during initial stages of travel research.

Focusing in on Operations and Client Experience

One of the key factors in maintaining profitability in the travel industry is efficiency and optimization. Using less fuel, processing passengers faster and managing resources more effectively have enormous positive impact on costs and investment in technology that optimizes these facets continues with enthusiasm. Building more initiative customer facing technologies could drive revenue by creating more opportunities for the brand through client engagement. Technologies that could improve bookings and streamline the customer service process are also infrastructure that has operational priority for travel businesses. Recent deals in the travel technology business echo the need and demand for such platforms that can create efficiencies in both operations and the customer end of the business. The growth of niche categories such as sustainable travel and localized experiences could translate to more demand for technologies that could optimize those markets.

Sources:

https://www.phocuswire.com/accor-amadeus-central-reservations-system

https://www.phocuswire.com/duetto-acquired-by-growthcurve

https://www.phocuswire.com/the-access-group-acquires-hotel-tech-specialist-shr-group