Duetto, a provider of revenue management software for the hospitality industry, has acquired HotStats, a global company that provides financial benchmarking for hotels. Terms of the transaction were not disclosed.
“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 optimization,” said David Woolenberg, CEO, Duetto. “Together, we will reimagine what’s possible for hotel revenue and profitability.”
HotStats’ core offering in hotel profitability benchmarking enriches Duetto’s mission to unify every revenue stream under one platform, according to the companies. This new partnership will give hoteliers a clear, actionable view of their overall profits, driving data-backed decisions that increase efficiency and elevate the guest experience.
“Duetto’s commitment to reshaping revenue and profit optimization resonates strongly with our complementary focus on actionable financial insights,” said Michael Grove, CEO, HotStats. “We see enormous potential in joining forces, extending our impact to help hotels identify opportunities to improve efficiency, better meet customer demand and optimize profitability across every facet of their operations.”
Jonathan Langston, founder/retiring chairman, 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.
This acquisition spotlights Duetto’s dedication to strategic expansion under the ownership of GrowthCurve Capital, which acquired the company last year.
The entire HotStats team will be joining Duetto as part of the transaction.
Houlihan Lokey served as financial advisor and Orrick, Herrington & Sutcliffe served as legal counsel to Duetto. Gately plc served as legal counsel to HotStats.
