Connect with us

Hi, what are you looking for?

Technology

Hotel business intelligence platform OTA Insight nabs $80M


Hear from CIOs, CTOs, and other C-level and senior execs on data and AI strategies at the Future of Work Summit this January 12, 2022. Learn more

OTA Insight, a market intelligence platform that gives hotels data and analytics to increase their revenue and business strategy, has raised $80 million in a series B round of funding.

Founded in 2012, London-based OTA Insight offers a range of products designed to bring “smarter revenue, distribution, and marketing outcomes” to some of the world’s largest hotel chains, including Radisson, Holiday Inn, and Crowne Plaza.

Among its products are Market Insight, Rate Insight, Parity Insight, and Revenue Insight, which collectively capture and aggregate real-time booking data from myriad sources to help hotels figure out demand across markets, for example, benchmark pricing against competitors, and monitor the performance of their entire hotel portfolio.

“For global chains and independent hotels alike, we have made the use of data simple and intuitive to drive better commercial decisions and provide a real competitive advantage,” OTA Insight CEO Sean Fitzpatrick noted in a statement.

Above: OTA Insights: Market Insight

Prior to now, OTA Insight had raised around $20 million, and with another $80 million in the bank from private equity firm Spectrum Equity, the company is well-financed to capitalize as the global hospitality industry continues its recovery from the lockdown measures instigated in the wake of the global pandemic.

Advertisement. Scroll to continue reading.

“Prior to the pandemic, the hospitality industry had been open to gradually adopting new technology — our business experienced significant growth through 2020 despite the industry headwinds, but 2021 has been a breakthrough year for us as the recovery accelerated the pace of technology adoption,” Fitzpatrick continued. “We anticipate unprecedented opportunities and growth as the recovery continues.”

VentureBeat

VentureBeat’s mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact.

Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:

  • up-to-date information on the subjects of interest to you
  • our newsletters
  • gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
  • networking features, and more

Become a member



Source link

Click to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement

Latest

Technology

Hear from CIOs, CTOs, and other C-level and senior execs on data and AI strategies at the Future of Work Summit this January 12,...

Top Stories

Bitcoin (BTC) chopped and changed on Nov. 18 but held a critical support level to preserve the chance of new all-time highs. BTC/USD 1-hour...

Top Stories

Rapper Post Malone is the latest celebrity to move into nonfungible tokens (NFT) by promoting a major NFT project and a cryptocurrency firm. In...

Online Business Success

China becomes richer than the US. File photo Report says real estate key driver of global net income; could have unpleasant repercussions in years...

Top Stories

India appears to be taking a progressive stance on Bitcoin (BTC). Especially given the fact that the country is attempting to reach a uniform...

Social Media

TikTok has conducted a new study into the proliferation of dangerous challenges and trends in the app, with a view to better understanding young...

Technology

The existence of Signaling System 7 (SS7) mobile telephony protocol vulnerabilities is something security researchers warned about in 2016, and it only took a...

Top Stories

Bitcoin (BTC) investors who bought at 2017 all-time highs and above have still not sold, data suggests. According to the HODL Waves metric, coins...

Advertisement

You May Also Like

Blogging

In this post, I will discuss the top ten profitable blogging niches ideas for Adsense approval and high traffic. whether you use Blogger or...

SEO Guide

How to index website on Google? Do you want to drive more organic traffic to your new website? I am sure your answer is...

SEO Guide

Want to rank in Google image search? Images that you use as a featured images when writing a post actually appear on Google Images...

SEO Guide

There are all kinds of pictures of the world on the internet, but to find one of these specific pictures that you want to...

Advertisement