Avvio Links With SHR
Irish hotel tech company Avvio is joining forces with US private equity backed Sceptre Hospitality Resources (SHR). The move follows Serent Capital’s investment in SHR in 2020.
Serent Capital sponsored the acquisition of Avvio through SHR to create a technology provider for independent hotels and chains with customer support across the world.
Headquartered in Limerick and founded in 2002, Avvio has been a pioneer in hotel technology for 20 years. In 2017 it launched the world’s first AI powered booking engine, allora.ai, which today provides technology to over 500 hotels around the world and powers over £400m in transactions every year.
SHR, headquartered in Houston, Texas, is a revenue generating platform that helps hotels execute their best revenue generation strategies through its integrated central reservation (CRS), customer relationship management (CRM), and revenue management (RMS) systems. It supports over 1500 independent, group, casino and long-stay hotels, manages 6.6 million reservations, sells 19 million room nights and drives £2 billion revenue per year through its Windsurfer CRS.
Serent Capital is a growth-focused private equity firm that invests in founder-led enterprise software and tech-enabled services companies. It has over £4 billion of assets under management.
Avvio’s CEO Frank Reeves explained:
"The coming together of Avvio and SHR creates a company that’s far more than the sum of its parts. Like myself, SHR’s CEO Rod Jimenez is a long-time entrepreneur and understands success is built around over-delivering for your customers every single day. Both businesses have innovation in their DNA and a real challenger mindset. I can’t wait to see what we can achieve together."