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.”
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.
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.
Travel Technology, Hospitality Management
Virgin Voyages | September 08, 2023
Virgin Voyages announced a $550 million funding round led by Ares Management for global expansion.
Founder Tom McAlpin transitions to Chairman of the Board, while Nirmal Saverimuttu takes over as CEO, bringing extensive experience from Virgin Voyages' early days.
Virgin Voyages looks forward to continued success and collaboration with investors, including Ares Management, to drive future growth and innovation.
Virgin Voyages, the award-winning cruise brand backed by Richard Branson's Virgin Group, has announced the completion of a $550 million fundraise led by Ares Management's Private Equity Group. This funding, including contributions from existing investors such as Virgin Group and Bain Capital, is poised to propel Virgin Voyages into international markets while enhancing the overall customer experience.
Partner and Co-Portfolio Manager of Special Opportunities in the Ares Private Equity Group, Aaron Rosen, remarked,
With this new investment alongside our partners at Virgin Group and Bain Capital, we believe the company is on strong footing to capitalize on its differentiated product and value proposition in the growing cruise industry.
[Source - Cision PR Newswire]
Established as a leading player in the industry, Virgin Voyages has swiftly gained recognition and accolades with a fleet serving various destinations and recent wins like topping the mega-ship category in Travel + Leisure's 2023 World's Best Awards and sweeping all five cruise categories in the 2023 Cruise Critic Cruisers' Choice Awards.
Alongside this development, Tom McAlpin, the founding CEO, is transitioning to the role of Chairman of the Board. Nirmal Saverimuttu is taking the reins as the new Chief Executive Officer, having formerly served as President and Chief Experience Officer. In addition, Nirmal Saverimuttu has been a foundational figure at Virgin Voyages since 2014, when he joined as Chief Commercial Officer after securing initial investments from the Virgin Group. His role expanded in 2021 to President and Chief Experience Officer, making him well-prepared to guide the brand into its next phase of growth and innovation.
Nirmal Saverimuttu, CEO of Virgin Voyages, said,
I want to send our deepest thanks, on behalf of all our Crew and the Board, to Tom for his leadership and passion for the business. We are so grateful for all he has done and are thrilled to continue to partner with him as our Chairman.
[Source – Cision PR Newswire]
Virgin Voyages is a trusted brand due to its crew's dedication and passion for offering remarkable experiences for its guests. Nirmal also expressed his anticipation of collaborating with the Ares team and Virgin Voyages' current investors to execute growth and expansion plans as the company contemplates its promising future.
businesswire | August 16, 2023
Bleisure travel has been deemed a pandemic silver lining, according to The Year of “New” Traveler report from the American Hotel and Lodging Association (AHLA), published in 2022. Although combining leisure and business travel wasn’t a new concept before 2020, such arrangements have become more commonplace as multi-day bleisure trips are a new travel norm.
Further, today’s traveler wants it all from their lodging and travel provider. While cleanliness and safety are table stakes, they also crave multiple amenity options like dining at different price points, gaming, retail shopping, theater-style shows and spa treatments. Bleisure travelers not only want the additional amenities, but they also desire access to self-booking and self-service technology, to make the most of their time between business and leisure.
Potawatomi Casino Hotel, located in downtown Milwaukee, is one such property that not only provides several on-site amenities but has implemented hospitality technology to create guest and employee champions at every touchpoint. Potawatomi Casino Hotel, one of Wisconsin’s most popular entertainment destinations featuring more than 1.1 million square feet, chose to replace systems previously in use with two award-winning point-of-sale (POS) systems from Agilysys to optimize food and beverage interactions and enhance guest and staff experiences.
Agilysys, Inc. (NASDAQ: AGYS) is a leading global provider of hospitality software solutions that delivers High Return Hospitality. Its latest point-of-sale (POS) systems combine highly interactive terminal and tablet touchscreen applications supporting Windows, Android and iOS devices and includes strong information security for data protection. The robust reporting and analysis features, extensive enterprise-grade menu and item configuration capabilities and multi-language support help drive service flexibility and increased operational efficiency.
Since installing the POS platforms from the Agilysys Hospitality Core Collection™, Potawatomi Casino Hotel staff have been able to provide enhanced experiences throughout the property that serves 6 million-plus guest visits annually. The property, owned and operated by the Forest County Potawatomi Community, features:
Gaming, which includes state-of-the art slot machines, bingo, table games and a temporary sportsbook.
Restaurants and bars, including the four-star Dream Dance Steakhouse Canal Street Café, authentic Asian noodle and sushi bar RuYi and The Potawatomi Marketplace.
Entertainment at several on-site venues, such as the 1,500-seat Potawatomi Event Center and nightlife hot spot Bar 360.
Deluxe amenities at its 500-room, 19-story hotel, including 75 suites, some of which offer stunning views if the Milwaukee skyline and Lake Michigan.
Full-service catering for corporate and social events.
With such a large, comprehensive enterprise, the 3,000-employee Potawatomi Casino Hotel has improved guest and staff experience by investing in Agilysys’ mobile food & beverage ordering and kiosk systems, resulting in better reviews, increased satisfaction and greater on-property spend.
“Coming off the pandemic, guests want it all, and technology helps us deliver,” said Garret Finocchiaro, CIO at Potawatomi Casino Hotel. “We are in a much better position to create the High Return Hospitality experiences they expect with Agilysys’ POS solutions at staff members’ fingertips. Additionally, such technology helps us attract and retain top talent in a tight labor market in a growing sector.”
The U.S. Bureau Labor Statistics reports overall employment in the gaming industry is expected to increase 17% from 2021 to 2022 — quicker than the average for all occupations. As such, Potawatomi Casino Hotel management understands the need for hospitality-specific solutions to up the proverbial ante to keep staff — and guest — satisfied in this growing industry.
“Potawatomi Casino Hotel understands the need to deliver Return on Experience so the millions of visitors and guests that come through its doors receive such amazing interactions and memories that they post on social, tell their friends about it and come back for more,” Darren Student, Vice President Sales, Agilysys. “We can’t wait to see how this amazing property continues to grow as we move into a long-term partnership and the company invests in a comprehensive suite of Agilysys hospitality solutions that deliver greater guest and staff loyalty.”
About Potawatomi Hotel & Casino
Set in the heart of Milwaukee, Potawatomi Casino Hotel is Wisconsin’s premier entertainment destination, offering guests the best in gaming, dining and entertainment. The property features a 500-room, 19-story hotel, the second largest hotel in Milwaukee; a new sports betting operation; and more than 60,000 sq. feet of event space. In 2022 Potawatomi announced a $100 million renovation project of the casino’s third floor, which is scheduled to be complete in 2023. To discover more visit www.paysbig.com.
About Return on Experience (ROE)
When it comes to software, most resorts talk about return on investment (ROI). In hospitality, short-term ROI is table stakes. Return on Experience (ROE), provided through Agilysys software, ensures every experience at every touchpoint creates a champion – not a critic – for both guests and staff members alike. This way, guests do more, spend more and have a higher intent to return and recommend on Yelp, Trip Advisor and other popular platforms. Check out our 30-deep Experiencer Enhancers™ Collection, along with our venue-specific Hospitality Solutions™ designed to maximize your specific need.
Agilysys is well known for its long heritage of hospitality-focused technology innovation. The Company delivers modular and integrated software solutions and expertise to businesses seeking to maximize Return on Experience (ROE) through hospitality encounters that are both personal and profitable. Over time, customers achieve High Return Hospitality by consistently delighting guests, retaining staff and growing margins. Customers around the world include: branded and independent hotels; multi-amenity resort properties; casinos; property, hotel and resort management companies; cruise lines; corporate dining providers; higher education campus dining providers; food service management companies; hospitals; lifestyle communities; senior living facilities; stadiums; and theme parks. The Agilysys Hospitality Cloud™ combines core operational systems for property management (PMS), point-of-sale (POS) and Inventory and Procurement (I&P) with Experience Enhancers™ that meaningfully improve interactions for guests and employees across dimensions such as digital access, mobile convenience, self-service control, personal choice, payment options, service coverage and real-time insights to improve decisions. Core solutions and Experience Enhancers are selectively combined in Hospitality Solution Studios™ tailored to specific hospitality settings and business needs.