WEX Signs Definitive Agreement to Acquire eNett and Optal

Odessa American | January 24, 2020

WEX , a leading financial technology service provider, today announced that it has entered into a definitive agreement to purchase eNett, a leading provider of B2B payments solutions to the travel industry and Optal, a company that specializes in optimizing B2B transactions, for a total consideration of approximately $1.7 billion, including approximately $1.275 billion in cash and approximately 2 million shares of WEX common stock paid to the sellers. WEX is acquiring eNett from Travelport and its owners, affiliates of Siris Capital Group, LLC and Elliot Management Corporation's private equity affiliate, Evergreen Coast Capital Corp. WEX is acquiring Optal from private shareholders. The two companies, which are already highly integrated companies, will be fully integrated under WEX’s ownership.

Spotlight

Explore cutting-edge revenue strategies in the hospitality industry. Adopt the latest hospitality management trends to optimize the revenue stream.

Spotlight

Explore cutting-edge revenue strategies in the hospitality industry. Adopt the latest hospitality management trends to optimize the revenue stream.

Related News

Travel Technology, Hospitality Trends

Collinson Announces Partnership with Blue Sky Group to Enhance Lounge Access for Priority Pass Members in Indonesia

PR Newswire | July 05, 2023

Today, Collinson, a global leader in the provision of airport experiences, loyalty and customer engagement solutions, and owner and operator of Priority Pass, announces a new partnership with Blue Sky Group, a hospitality provider in Indonesia that manages premium executive lounges in airports across Indonesia, alongside hotels and restaurants. This partnership will allow Priority Pass Members to access 13 airport lounges, eight of which are exclusive to Priority Pass Members, in Indonesian airports. This includes Soekarno-Hatta International Airport (CGK), Sultan Aji Muhammad Sulaiman Sepinggan International Airport (BPN), and Sultan Mahmud Badaruddin II International Airport (PLM). Blue Sky Group's airport lounges offer comfortable spaces for travellers to relax pre-flight, as well as VIP rooms for informal meetings. Lounges at Balikpapan (BPN) and terminal 2 of Soekarno-Hatta (CGK) airports provide complimentary buggy services that transport guests from the lounge to immigration. In addition to curated lounge spaces, members will be able to enjoy Ippolito coffee – Blue Sky's in-house brand, roasted locally – as well as sample Indonesian cuisine, such as Pisang Goreng and varieties of Jajanan Pasar. "This is an exciting time for the travel industry in Indonesia, as the country has set a goal of attracting nearly 7.4 million international arrivals in 2023; almost double the number of arrivals when compared to last year," said Todd Handcock, Global Chief Commercial Officer and Asia Pacific President at Collinson. "We are delighted to partner with Blue Sky Group, one of the top hospitality providers in Southeast Asia, to vastly enhance our Priority Pass Members' experience when visiting Indonesia, through inventory that both provides a taste of the local culture, and a memorable airport experience." Linan Kurniahu, CEO of Blue Sky Group said, "We are thrilled to partner with Priority Pass to provide their members with access to our premium airport lounges in Indonesia. Our airport lounges combine the best of local culture and cuisine with the highest levels of international travel service. This partnership represents a significant milestone for us as we continue to expand our footprint across Asia Pacific's travel industry." Indonesia has a rapidly growing economy and is fast becoming a major international business and leisure travel destination. Recognising the importance of this market to Priority Pass Members, together, both partners will make travel to and within the Indonesian archipelago more comfortable and relaxing than ever before. About Collinson Collinson is the global, privately-owned company dedicated to helping the world to travel with ease and confidence. We work with the world's leading payment networks, over 1,400 banks, 90 airlines and 20 hotel groups worldwide. We deliver market-leading airport experiences, loyalty and customer engagement, and insurance solutions for over 400 million end consumers. About Priority Pass Priority Pass is the world's original and market-leading airport experiences programme. We provide travellers with access to 1,300 airport lounges and travel experiences in over 650 airports in 148 countries. Members can access an ever-growing range of premium experiences – from spas to sleeping pods to dining – that help elevate every journey into something special. By building partnerships with other leading brands, we help to bring a better travel experience to the world. About Blue Sky Group A nationwide company focusing on hospitality, property services and restaurant management, Blue Sky Group started in 1973 as one of the few hotels in Balikpapan, Indonesia. Since 2003, Blue Sky Lounges serve in major cities in Indonesia, such as Balikpapan, Jakarta, Pekanbaru, Pontianak, etc. We are the sole privately owned brand with multiple outlets that have partnership with major banks and corporate & government entities in Indonesia. Our aim is to continue to be the destination for travellers before their journey, with the goal of going to international market in the future.

Read More

Hospitality Management

Sandman Hotel Group Announces the Opening of Sandman Signature Fort Worth Downtown Hotel

globenewswire | July 19, 2023

Sandman Hotel Group and its parent company, Northland Properties, are excited to announce that the new Sandman Signature Fort Worth Downtown Hotel is now open. Situated at 810 Houston St. in the century-old W.T. Waggoner Building, this opening marks the brand’s second Signature-branded hotel property in Texas. Originally constructed in 1920, this 20-story building was known for being the tallest in the State of Texas and the Southwest. The building is u-shaped on the upper floors and is one of the few buildings in Fort Worth to position light toward the front of the building and making it a design feature. It is part new-build and part carefully adapted reuse of some of the original 1920 design features, such as its historical exterior, ornate lobby entrance, vaulted towers, banking hall with teller cages, and its beautiful interior marble finishings. Dedicated to preserving this iconic building, the team at Sandman Hotel Group has designed this hotel to perfectly complement the city’s historical heritage and modern creative energy. Robert Sturns, Economic Development Director for the City of Fort Worth, says he is thrilled with Northland’s commitment to preserving the iconic building, “This project celebrates Fort Worth’s past while still supporting the current and future growth of downtown, and we look forward to the Sandman Signature Fort Worth Downtown Hotel as being part of our growing community.” Owned and operated by Sandman Hotel Group, Sandman Signature Fort Worth Downtown Hotel features 245 new, premium-style guest rooms complete with spa-inspired bathrooms and modern amenities, and a lively lobby bar to be enjoyed by hotel guests and the local community. Guests will find a modern fitness facility and multi-use meeting space on the mezzanine. Tom Gaglardi, CEO of Northland Properties, commented: “'The opening of Sandman Signature Fort Worth Downtown Hotel is an exciting addition to our portfolio and strengthens our growth in Texas. Fort Worth offers a vibrant downtown experience rich in culture, history, and southern hospitality. We are incredibly proud to be part of this community and delighted to welcome our hotel guests and local restaurant and bar visitors to enjoy a particularly special hospitality experience that encompasses the beautifully designed historical touchpoints of this iconic building." In addition to taking advantage of the hotel's Signature branded perks, guests can enjoy a first-class onsite dining experience on the lower ground floor at the famed Musume Restaurant. Owned by Dallas's Rock Libations Restaurant Group, Musume offers contemporary Asian cuisine and world-class sushi. The restaurant also features the country's most extensive premium sake program with over 120 selections and the largest Japanese Whiskey selection in the Dallas/Fort Worth area. "We're so excited to partner with a prestigious hotel brand such as Sandman Signature. As a born and bred Texas & Dallas Fort Worth native, bringing Musume to Fort Worth means so much to me. Fort Worth has transformed into such a lively city while keeping its southern roots. I think Musume will be a great addition to the vibrant downtown area," said Joshua Babb, Co-Founder, Rock Libations Restaurant Group. The newest Sandman Signature location offers guests close proximity to some of the city’s most vibrant downtown neighborhoods. Districts such as Sundance Square, Cultural District, and Fort Worth’s historical Stockyards provide fun, culture, ample shopping, and art galleries, with a wide variety of unique dining and entertainment options. Meanwhile, corporate guests will be able to take advantage of being only a block away from Fort Worth Convention Center. Sandman Signature Fort Worth Downtown Hotel is truly a one-of-a-kind, and our team of dedicated hospitality professionals invites you to be the first to experience this unique guest experience with our Opening Celebration Rate: Stay between now – September 4, 2023, and save up to 50% off the Standard Rate with our Opening Celebration Offer. Book your reservation now at sandmanhotels.com or call 1-800-SANDMAN. Remember to sign up to RSVP Rewards to begin earning points toward free hotel stays as well as other perks. About Sandman Hotel Group Sandman Hotel Group is a collection of economy, midscale, and premium hotel brands found in 5 countries worldwide. It is owned and operated by Northland Properties Corporation - the force behind well-known brands such as The Sutton Place Hotels, Denny's Canada, Moxies, Chop Steakhouse & Bar, Shark Club, Revelstoke Mountain Resort, Grouse Mountain Resort, Dallas Stars NHL Team, and Northland Asset Management Company.

Read More

Hospitality Management

Sonder Holdings Inc. Launches Powered by Sonder, its First Dedicated Hotel Collection

globenewswire | July 26, 2023

Sonder Holdings Inc a leading next-generation hospitality company that is redefining the guest experience through technology and design, has launched its first hotel collection, Powered by Sonder. Powered by Sonder is a collection of uniquely designed boutique hotels, powered by Sonder’s technology and operated by Sonder. These hotels are infused with local flair, and have their own distinctive design aesthetic. In common with Sonder’s wider portfolio of hotels and multi-unit apartment properties, Powered by Sonder hotels are located in the center of key travel destinations and provide app-enabled modern service, thoughtful amenities, and consistent high quality. 23 Sonder hotels across 13 markets are part of the Powered by Sonder collection, with new properties expected to be added. Among them are Atala in Paris, Chambers in New York City, and Yelo Jean Médecin in Nice. “Hotels make up a significant and growing part of our portfolio. The Powered by Sonder collection offers authentic, local stays in the heart of vibrant neighborhoods – at global scale and with the consistency and quality that our guests expect. Each hotel has a strong design perspective, which is distinct from Sonder’s core design aesthetic, while featuring our seamless, app-driven service. Many have unique features for our guests to discover, including on-site food and beverage outlets,” said Francis Davidson, Co-Founder and CEO at Sonder. Powered by Sonder hotels can be booked on Sonder.com, in the Sonder app, and via online travel agent partners in the same way as Sonder’s wider portfolio. “Hotels in the Powered by Sonder collection benefit from our proprietary technology and operational expertise, and existing boutique hotels can be efficiently integrated into our portfolio. We’re continuing to expand and diversify our portfolio, with hotels and resorts in both our Powered by Sonder and wider collection, in addition to multi-unit apartment properties,” said Martin Picard, Co-Founder and Chief Real Estate Officer at Sonder. Sonder operates in 40+ markets across ten countries, and has approximately 18,200 live and contracted units worldwide as of Q1 2023. The company distinguishes itself in the hospitality industry through modern design and by using technology to deliver a frictionless guest experience at a lower cost structure. The Sonder app puts guests in full control of their stay – from booking, to interacting with guest services, to check-out – via their own mobile device. Sonder recently announced expansion in EMEA and Florida, and shared that over a third of its properties are in the top 10% of Tripadvisor listings. About Sonder Sonderis revolutionizing hospitality through innovative, tech-enabled service and inspiring, thoughtfully designed accommodations combined into one seamless experience. Launched in 2014, Sonder provides a variety of accommodation options — from spacious rooms to fully-equipped suites and apartments found in over 40 markets spanning ten countries and three continents. The Sonder app gives guests full control over their stay. Complete with self-service features, simple check-in and 24/7 on-the-ground support, amenities and services at Sonder are just a tap away, making a world of better stays open to all.

Read More