HotelOnline, a Kenya-based
revenue management company, has acquired East African hotel software provider HotelPlus.
The full terms of the deal were not disclosed, but the transaction mainly takes the form of shares, according to Håvar Bauck, one of HotelOnline’s two founders. Eric Muliro, who founded HotelPlus in Kenya in 2009, is getting a payout plus $1.9 million in shares in HotelOnline, Bauck says. HotelOnline was valued at $24 million pre-deal.
“HotelPlus has built an impressive commercial organization, with skilled salespeople and a high-performance reseller network covering more than a dozen countries across the continent,” says Bauck. “Integrating these resources [lays the groundwork] for our accelerated expansion in Africa.”
in 2014 by Norwegian entrepreneurs Bauck and Endre Opdal, HotelOnline says it
helps more than 6,000 hotels in 27 countries boost occupancy and increase
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HotelPlus is a well-known brand name in the hospitality industry and a
leading provider of hotel software in East Africa, with a portfolio of 2,200
clients, according to Bauck.
this merger, we are significantly increasing our client base, while
capitalizing on the combined strengths of both companies, creating a force to
reckon with in the hospitality industry in the East Africa region,” Bauck says.
Opdal, HotelOnline's founder and CEO, calls the merger a “win-win” for HotelPlus clients who will benefit from “state-of-the-art
digital services, such as payment solutions, AI-driven dynamic pricing and
obviously revenue management.”
HotelPlus was 100% owned by Muliro until the merger. He is joining
HotelOnline as chief technology officer and bringing with him a team of software
deal is a key milestone in the journeys of both companies,” says Muliro. “We
are beyond happy to join forces with HotelOnline to create a traveltech market
leader in East Africa.”
an investment in April from South Korea-based Yanolja Cloud, an AI-based
global SaaS company. Bauck says the partnership with Yanolja Cloud has enabled HotelOnline to “rapidly
gain market share” as a front runner in the African hospitality industry’s digital