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In business since 2002, Avvio has offices in Ireland, the UK and the US. Its tech is used by more than 500 hotels worldwide.
Avvio, a Limerick-headquartered company that makes tech for the hotel industry, is merging with US hotel tech player Sceptre Hospitality Resources (SHR).
Texas-headquartered SHR is backed by private equity firm Serent Capital, which has now agreed to acquire Avvio. Terms of the deal have not been disclosed.
Serent Capital first invested in SHR in 2020, adding to its portfolio of enterprise software and tech-enabled services companies.
SHR’s platform helps hotels manage their revenue generation strategies. It offers integrated central reservation, customer relationship management and revenue management systems.
It now joins forces with Avvio, which has been in business since 2002. The Limerick company launched its AI-powered booking engine, Allora.ai, in 2017. The tool uses data science to tailor experiences for hotel guests.
Avvio has offices in Ireland, the UK and the US. According to the company, its tech is used by more than 500 hotels worldwide and it handles more than 400m bookings and £400m transactions annually.
SHR CEO Rod Jimenez said that he looked forward to leveraging Allora.ai into his own company’s offering.
“Together they will deliver an incredibly personalised customer purchase journey at every stage in the customer lifecycle,” he said of Avvio and SHR.
He added that the two businesses 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”.
Avvio’s CEO Frank Reeves said that the merger “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,” he concluded.
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