Hotel revenue management specialist Duetto has acquired United Kingdom-based hotel benchmarking company HotStats. The terms of the deal were not disclosed.
The partnership is intended to help Duetto provide hoteliers “with a differentiated view of both their top-line revenue and operating performances across rooms, food & beverage and ancillary services,” a statement said.
According to HotStats’ website, the platform was founded in 1997 and provides benchmarking for hotel owners and operators, as well as market reports for investors and analysts.
Founded in 2012, Duetto is a cloud-based revenue management system designed for the hospitality industry, providing insights on pricing, forecasting and demand. The company is used by more than 6,300 hotels, casinos and resorts globally, it said.
Hotel profitability benchmarking, the "core offering"from HotStats, will help Duetto accomplish its mission of unifying every revenue stream under a single platform, the company said.
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“By augmenting our existing suite of solutions with HotStats’ industry-leading financial benchmarking data asset, we’re able to deliver the industry’s most comprehensive solution for driving revenue and profit optimization," said David Woolenberg, CEO of Duetto.
"Together, we will reimagine what’s possible for hotel revenue and profitability.”
Duetto was acquired by GrowthCurve Capital in June 2024, with the aim of accelerating Duetto’s artificial intelligence strategy. According to Duetto, the acquisition of HotStats is further bolstering its strategic expansion under GrowthCurve's ownership.
“Duetto’s commitment to reshaping revenue and profit optimization resonates strongly with our complementary focus on actionable financial insights,” said Michael Grove, CEO of HotStats. “We see enormous potential in joining forces, extending our impact to help hotels identify opportunities to improve efficiency, better meet customer demand [and] optimize profitability across every facet of their operations.”
Duetto also acquired Micerate, a meeting and event space booking and dynamic pricing technology provider, in February 2024. At the time, Duetto said the move highlighted the company’s “dedication to dynamic revenue management solutions, with a heightened focus on the groups and events sector.”