Amadeus is in the process of acquiring Newmarket International, a leading provider of cloud-based group and event IT solutions to the hotel industry, for US$500 million.
The addition of Newmarket, based in Portsmouth, New Hampshire, US will significantly strengthen the Amadeus’ expertise and experience in the hotel IT industry, a key target sector for future growth.
Luis Maroto, President and CEO of Amadeus, said, “With many hotel chains at a crossroads in their IT strategy, and the provider landscape fragmented, Amadeus is committed to playing a key role in partnering with the hotel industry to address its challenges and this transaction will greatly accelerate that objective.”
Newmarket, which serves around 22,000 unique properties in 154 countries, operates in the group and event management segment of the hotel industry, which is estimated to account for 30-40% of a full-service hotel’s revenues.
