Hotel marketing company Cendyn buys SaaS provider Guestfolio
Hotel- and meetings-marketing company Cendyn announced an acquisition of Guestfolio to round out Cendyn’s offerings for boutique hotels.
Cendyn offers cloud-based software solutions for hotels and the meetings’ industry, with clients including AMResorts, Loews Hotels, The Standard hotels, Rosewood Hotels, and Fontainebleau Miami Beach.
The acquisition of Guestfolio will enable Cendyn to offer a more comprehensive feature set on the hotel-marketing side of the business as Guestfolio is stronger in the boutique hotel segment, says Tim Sullivan, Cendyn’s chief sales and marketing officer.
Accel-KKR, a private equity firm, took a minority stake in Cendyn in May when the hotel marketer realized it would need more capital to address expansion in Europe and Asia and increase profitability as it coped with a growing list of competitors, Sullivan says.
The hotel tech marketplace has become more competitive in recent years as rivals, including large players such as Oracle, Salesforce and TravelClick, among others, proliferate.
Sullivan says Guestfolio’s products, which come at a “slightly lower price point” than Cendyn’s will be offered alongside Cendyn’s enterprise solutions and will, to some extent, fill Cendyn’s product gap.
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