Hospitality Management
prnewswire | July 18, 2023
AirDNA, a leading short-term rental (STR) data provider, announced today the acquisition of the pioneering location intelligence platform Arrivalist. This strategic acquisition marks an important milestone in AirDNA's commitment to elevating the standard of data-driven decision-making within the hospitality industry. AirDNA and Arrivalist will sit within predictis, a family of leading software-enabled data businesses. predictis is a portfolio company of Alpine Investors, a people-driven private equity firm that invests in software and services businesses.
"By welcoming Arrivalist to AirDNA, we're accelerating our growth trajectory and reinforcing our commitment to delivering industry-leading insights to our customers. The union of our powerful data platforms will provide businesses with unrivaled intelligence, empowering them to strategize with increased precision," said Demi Horvat, AirDNA's CEO.
AirDNA's acquisition of Arrivalist also marks a key next step in predictis' journey to build a world-class investment and operating platform for data founders and entrepreneurs. "AirDNA's acquisition of Arrivalist represents a blueprint for continued add-on acquisitions to supplement organic growth and capitalize on derived data opportunities from adjacent data sets," said Jean-Marc Levy, CEO of predictis.
Arrivalist pioneered the use of location data in the travel industry, using its patented technology to create bold insights into the way travelers interact with destinations. The company's Calibrated Data, Arrival Lift, and other proprietary technologies have won the trust of 200+ travel marketers in 46 of the 50 states since its inception in 2011.
In addition to the expanded insights gained, the acquisition unites two highly talented teams. AirDNA and Arrivalist both possess exceptional technical talent, including data scientists, data engineers, and account managers with deep industry expertise. The integration of these teams will propel the development of state-of-the-art solutions that meet the evolving needs of the industry.
"We're delighted to join with AirDNA to bring customers even more insights, resources, and innovative products. Bringing together these two powerhouses creates tremendous opportunities for future growth and continued innovation," commented Cree Lawson, CEO of Arrivalist. "This partnership with AirDNA and predictis will create unprecedented new value for our customers."
AirDNA and Arrivalist have already established themselves as integral players in guiding decisions for Destination Marketing Organizations (DMOs), hotels, and other customers. The acquisition is expected to bring customers access to a broader range of products and services, improved support and expertise, and enhanced innovation. Customers of both companies can expect a seamless transition during the integration process.
Cosine Group served as the financial advisor to Arrivalist.
About AirDNA
AirDNA is a global authority in short-term rental data, offering comprehensive insights and analytics to empower businesses in the short-term rental industry. AirDNA helps vacation rental hosts, managers, and investors make smarter decisions in any market or economic climate. For every short-term rental question, AirDNA has the answer.
About Arrivalist
Arrivalist is a leading location intelligence platform in the travel industry. The company uses mobile location datasets to provide actionable insights on consumer behavior, competitive share, media effectiveness, and market trends. Over 200 travel marketers, including 100 cities, 40 US states, and 4 of the top 10 US theme parks, use these insights to inform media strategy, operations, and destination development.
About predictis
predictis is Alpine Investors' data software business platform. It is the home for data founders and entrepreneurs who seek to scale their businesses as they set out to democratize data and unlock its transformative power. predictis is founded on the thesis that aggregating vertical software-enabled data businesses will unlock significant value for acquired businesses and generate above-average business results. predictis seeks to acquire, operate, and grow leading data software businesses across multiple industry verticals. Founders and data companies interested in learning more about partnering with predictis should contact James Reaney or Pat Eble at jreaney@alpineinvestors.com or peble@alpineinvestors.com. For more information, visit www.predictisdata.com.
About Alpine Investors
Alpine Investors is a people-driven private equity firm committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in the software and services industries. Alpine's PeopleFirst strategy includes a talent program that allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine has over $15 billion in assets under management as of March 31, 2023 and has three offices in San Francisco, New York, and Salt Lake City. For more information, visit www.alpineinvestors.com and https://www.alpineinvestors.com/terms-of-use/ for full disclaimers including, but not limited to, third-party reviews and Alpine Operations Group.
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Travel Technology
businesswire | July 25, 2023
Emburse, a leader in travel and expense (T&E) management, has acquired TRIPBAM, the industry’s only provider of fully automated, always-on auditing technology to track and review corporate travel pre-trip spend, corporate negotiated discounts, and supplier contracts.
TRIPBAM’s technology constantly tracks and compares current prices with customers’ travel reservations and automatically rebooks a flight or hotel room if a lower price is available. It has tracked more than 30 million corporate travel bookings to date, representing over $30 billion in spend. TRIPBAM’s solutions have helped more than 2,000 customers, including Aon, Elevance Health and Microsoft, to automatically save in excess of $500 million.
The acquisition of TRIPBAM makes Emburse an even stronger partner for travel and finance leaders, supporting their efforts to better manage spend and proactively control travel costs. With TRIPBAM, Emburse’s 18,000+ customers can add flight and hotel rebooking to the T&E process, providing the lowest prices for their travel plans.
“On the heels of the pandemic, businesses are seeing a strong desire for more employee travel, but a turbulent economy has CFOs and finance leaders looking for ways to keep those costs down without slowing the business, which is exactly what Emburse and TRIPBAM enable," said Eric Friedrichsen, CEO of Emburse. "I'm excited about this acquisition because our combined solution puts the power of automation, AI and data in the hands of our customers so that they can focus on their business instead of the busywork of trying to manage spend manually."
“When looking for the best way to help bring TRIPBAM to the next stage of its journey, we knew that we needed to join an organization that has a strong track record of global growth and could support the world’s biggest brands,” said Steve Reynolds, CEO and founder of TRIPBAM. “In Emburse, we found a similarly entrepreneurial, customer-centric organization that is challenging the status quo with new ways of thinking and a great suite of products. With Eric’s leadership and Emburse’s team and resources, we can continue to expand our global reach and find new ways of saving our customers money.”
Friedrichsen added, “With TRIPBAM’s innovative solutions and talented team onboard, we can further accelerate the pace of innovation, which is good for both our business and our customers. I see this union driving significant value for everyone, and am very pleased to welcome Steve and his team into Emburse. The future of our business has never looked better!”
“Our goal at MSTravel is to make business travel employee friendly, while minimizing environmental impact and delivering financial value to Microsoft,” said Eric Bailey, Global Director - Employee Travel and Devices at Microsoft. “Emburse Go Premier allows our employees to manage every aspect of their trip through a single app, while TRIPBAM delivers savings through rebooking at lower rates. Accessibility and uptime are critical, so both of these solutions running on Microsoft Azure gives us peace of mind. I’m excited to see what the future holds for TRIPBAM as a part of Emburse.”
About Emburse
Emburseis a leader in travel and expense management. Our expense, travel management, accounts payable, and payments solutions are trusted by more than 12 million business professionals, including CFOs, finance teams, and travelers. More than 18,000 organizations in 120 countries, including FORTUNE 100 and Global 2000 corporations, public sector agencies, nonprofits, and high-growth small businesses count on our intelligent automation, sophisticated analytics, and unmatched spend control to streamline processes, increase spend visibility, enhance compliance, and deliver positive financial outcomes.
We eliminate manual, time-consuming tasks, so our customers and their teams can focus on what matters most in their personal and professional lives. We humanize work.
About TRIPBAM
TRIPBAM is the leading travel technology provider for reducing hotel costs and optimizing hotel programs. TRIPBAM's advanced analytics, benchmarking, and contract auditing capabilities empower companies to save on travel spend without compromising on corporate culture. More than 2,000 companies across the globe trust TRIPBAM’s technology to stay on top of supplier agreements, boost compliance, negotiate new contracts, and save both time and money.
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Destination and Tourism
businesswire | July 07, 2023
Life House, an innovative management company for independent hotels, is proud to announce the launch of its Referral Program. The hotel industry is in a period of low transaction and development activity and the program is designed to support those folks who are particularly impacted, including brokers, developers, architects, designers, and hotel owners. Life House’s management services and revenue management solutions are designed to help owners yearning for better results with less effort, especially in the current economic environment - and Life House is committed to supporting the hotel community that fuses the industry together.
With its tech-driven management approach, Life House makes hotels more profitable and makes owning a hotel hassle-free, with case studies showing NOI increases of 250% and improved guest experiences. The model leverages proprietary tech and complex operating systems and processes to deliver consistent success across its diverse portfolio of 100+ properties, ranging from select service hotels, to lifestyle motels, to luxury Forbes Five Star hotels and those affiliated with Leading Hotels of the World.
While the Company has been receiving referrals for years, Life House is now launching a formal referral program given the economic climate to support both the hotel owners it serves as well as those who make referrals. The referral fees may not be as lucrative as a broker transaction fee, but could be up to $50,000, depending on the size of the hotel referred. If an introduction results in Life House signing a Hotel Management Agreement, Life House will provide a one-time reward in the amount of 0.5% of LTM Revenue for existing operating hotels OR 0.5% of Projected Year 1 Revenue for new builds or hotels that will undergo renovation.
"We’re deeply committed to our mission of helping not only independent hotel owners, but the industry as a whole. We understand that the hotel industry is small and while most of our friends, broker partners, etc. make referrals out of the goodness of their hospitality spirit, we wanted to be proactive to reward those who may be going through a dry patch in this economic environment," said Rami Zeidan, Founder & CEO of Life House.
About Life House
Life House is a vertically integrated hotel management & technology company focused on serving small and medium independent hotels with institutional quality service. Life House uses advanced software & operating systems to increase profitability and reliability for independent hotels throughout North America. Life House was founded in 2017 by real estate, hospitality, and technology veterans and is backed by world renowned private equity and venture investors. The company is ambitiously investing in its operational systems to make hotels far more profitable, predictable, and seamless for owners.
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