Blue Star Innovation Partners has acquired a majority stake in vacation rental software provider TravelNet Solutions.
Terms of the deal have not been disclosed.
TravelNet Solutions – which counts Track Hospitality Software, Atlas Digital Commerce and its booking engine software among its solutions – will use the investment to develop products, hire staff and pursue its market goals as short-term rental demand accelerates. The company also plans to look at strategic acquisitions and has ambitions of achieving unicorn status in the next four years.
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Founded in 2002, TravelNet Solutions serves more than 1,200 independent resorts and vacation rental companies, primarily in North America and the Caribbean.
Leadership of the company, which was co-founded by brothers Ryan and Charles Bailey, will not change. In communication with its customers, TravelNet Solutions says it remains steadfast in its mission, “transforming how hospitality works.”
TravelNet Solutions estimates its 2022 revenue at $27.5 million.