Hotel distribution and business intelligence specialist Fornova has landed $7 million in funding.
The round was led by A/O PropTech with existing investors DTCP, JAL Ventures and Forestay Capital also participating.
A/O and Fornova have also formed a design partnership which will see Fornova’s Hotels BI platform put into A/O’s portfolio of 150 hotels.
The idea is to gain insight on how the business intelligence technology is used by hotels and how it can be developed further.
A/O is also hoping to gain real-time data about its hotel portfolio in place of traditional historic reports.
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Fornova acquired Hotels BI, which helps properties with direct bookings and customer retention, in March this year.
Gregory Dewerpe, founder of A/O says:
“With Fornova, we are excited to push further disruption in the hospitality sector, where we can bring significant strategic value.
“Transforming how hotels manage their revenue, performance and guest data, adding transparency, and digitalization in an ever-changing industry where OTAs, third-party booking platforms/agents are pushing hotel operators and owners to improve their methods, systems and agility in order to transition to Hospitality 3.0.”
A/O also recently invested in a £7 million seed round for rentals platform Residently to fuel its growth in London and New York.