One month after
acquiring vacation rental business intelligence brand Transparent
, OTA Insight has made another purchase, this time of hotel revenue intelligent platform
Kriya RevGen
.
Terms of the deal have not been disclosed, but
OTA Insight
says the acquisition was based on macro trends it’s seeing in the market as hotels move to modern cloud providers.
Based in Dallas, Kriya RevGen’s brand-agnostic Spider Analytics platform streamlines data collection, analysis and reporting to optimize performance across groups of hotels.
By integrating, OTA Insight and Kriya RevGen will form what they say is the only business intelligence solution on the market that delivers tailored insights for both hotel-level users and multi-property users.
“We feel really privileged to be bringing together the very best teams, solutions and data to deliver the next generation commercial platform for the hospitality industry,” says OTA Insight CEO Sean Fitzpatrick.
“We are so impressed how Kriya RevGen simplifies the management of complex commercial strategies across hotel portfolios.”
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Founded in 2013, Kriya RevGen has provided revenue solutions to more than 1,000 hotels across North America and supports nearly all global brands, systems and leading management companies.
“RevGen has experienced rapid, organic growth over the past few years, especially within management groups and chains," says Bill Daviau, co-founder and CEO of Kriya RevGen.
"OTA Insight’s vision, global reach and culture make it the perfect fit for our team. We are excited about this next stage of our growth."
Daviau and the Kriya RevGen team will stay onboard, and OTA Insight plans to continue to grow the team and business significantly over the coming year.
“There are numerous cross-sell opportunities within our customer collective base, that will be a big area of focus,” says Fitzpatrick.
Founded in 2012, OTA Insight
raised an $80 million Series B investment round
from Spectrum in November 2021.
Its total funding is now $100 million. Spectrum Equity joined existing investors Eight Roads, F-Prime Capital and Highgate Technology Ventures in the round.