Hospitality technology specialist Iris has unveiled an investment program to help startups grow.
Iris Tech Ventures, spearheaded by Iris CEO Mark Horne, is targeting travel and hospitality startups across the world who are working on improving the guest experience.
In a statement, Iris said that the growth in the adoption of on-demand and mobile-first technologies by consumers and companies and the maturation of Gen Z is presenting an “unprecedented wealth of opportunity for new technology companies to work in closer alliance with hospitality operators to support operations and drive efficiencies and revenue.”
Horne, said: “Since Iris first launched we have invested heavily to maintain our status as technology pioneers for the hospitality industry. We are committed to developing and enhancing our suite of solutions for clients to ensure we continue to lead the market.
“Iris Tech Ventures is the next important step and as part of this investment strategy we will work with partners and acquire technology where necessary to focus on the rapidly evolving needs of both the hotel guests, management companies and owners.
“We are operating in an incredibly dynamic and diversified market and our ambition as part of this new strategy and program is to build a holistic hospitality technology ecosystem with a host of revenue-generating and resource saving software solutions.”
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Travel investors said recently that there is a general change in attitude from established companies who are now more willing to experiment, try newer technologies and are more willing to work with startups.
Just under a year ago hospitality management platform Mews also unveiled a venture arm but with a different aim. The company said it would enable it to accelerate mergers and acquisitions activity.
Mews acquired property management system Cenium in February and point-of-sale software provider Bizzon in March 2022.
More recently it acquired cloud-based property management system Hotello.