HRS acquires German travel billing company Itelya

Corporate lodging platform HRS has acquired Itelya, a Germany-based travel invoice management provider founded in 2010.

Terms of the deal are not being disclosed but the entire Itelya team will become employees of HRS.

HRS has been developing a financial technology for a few years and acquired Conichi in 2019 to help build its payment products.

Now the company says the acquisition of Itelya, which provides services in more than 180 countries, will solidify HRS’ standing as “the most traveler-centric lodging leader and a true financial technology provider.” Itelya provides invoice collection and data management tools to simplify payments to suppliers and VAT reclaim for corporations.

“Itelya’s decade-long expertise in global invoice management enables us to scale much faster to serve our global client base. We’re excited that their existing management team, along with all their highly talented colleagues, are joining the HRS Group,” says Tobias Ragge, HRS CEO.

“Itelya is a centerpiece to the ecosystem we are building out. Our lodging-as-a-service platform is comprehensive and unmatched, offering corporations a superior option as they recalibrate for the resumption of business travel. The fact that we own all of our technology solutions and associated data models gives us a unique capability to innovate faster and create the highest value for our customers.”