Consolidation in the hotel technology space as Hotelogix, a property management system specialist, distribution company AxisRooms and guest experience specialist RepUp combine a three-way merger.
A statement from Hotelogix says the merger will enable it to have the “scale, breadth and capabilities to compete more effectively and profitably” on a global scale.
It goes on to say that the grouping solves the problem for hotels of having to partner with different vendors and integrate technology to cater for different parts of the guest experience.
Hotelogix says the merger will provide a solution that “not only delivers much better value but also a completely seamless experience to all hotels.”
Services provided from the merged entity include a cloud-based PMS, channel manager, revenue management, booking Engine, reputation management and contactless tools for guests.
The merged companies will enable hotels to choose various elements of the service or a complete solution, according to RepUp.
Vineet Chauhan, co-founder, RepUp, says: “This merger will open new markets for us. We are looking forward to exploring and connecting with a global audience.”
Anil Kumar Prasanna, CEO at AxisRooms, adds: “The future of hotel technology needs to be open and accessible to every hotel partner or technology provider. If hotels want the full range of services or just a part of the stack, we want the technology to integrate as seamlessly as possible and be available to all partners with this merger.”
A holding company will be based in Singapore, while the management of the merged company falls to Hotelogix boss Aditya Sangh and co-founder Prabhas Bhatnagar, AxisRooms founders Prasanna and Ravi Taneja, alongside RepUp co-founder Pranjal Prashar.
Investors in the three companies, including Accel partners, Vertex Ventures, Saama Capital and SeedFund, supported the transaction.
Hotelogix received $5 million in funding in March 2018, saying it planned to focus on group hotels. RepUp secured an undisclosed funding round in January 2019.
The company was also part of the Singapore Tourism Board accelerator program, announced last year.
Axisrooms received undisclosed seed funding back in 2013.
The merger is an interesting move at a time when hotels will be reluctant to invest in new technology. Combining their services could make the three companies a more attractive proposition.