Top Chinese hotel IT operator AMTT raises US$32 million
This financing round will bring high growth for AMTT, its products and service applications are used in a million hotel rooms in China.
O2O smart hotel ecosystem operator AMTT has raised RMB200 million (approx: US$32.3 million) in financing from top Chinese private equities. It will use the funding to operate O2O cloud platforms for Chinese hotel industry, hotel Wi-Fi and internet service management and internet-related smart hotel management.
AMTT is a licensed supplier of broadband and Wi-Fi internet management operations, interactive hotel room television system, smart hotel room management and product customization service operator for high-end Chinese hotels. Its popular patented products include HSIA、ISTV、IDS、RCU、APP.
This financing round will bring high growth for AMTT. Its current client portfolio has almost 3,000 hotels from some 30 multinational hotel groups including the Marriot, Intercontinental, Accor, Shangri-La, Wyndham, Starwood and Hilton. AMTT products and service applications are used in a million hotel rooms, servicing over 300 million guests/stays a year.
One investor said that AMTT connects high-end international hotels with high-end customers. “There is naturally a strong demand for O2O applications in this high-end segment. With Chinese luxury hotel achieving average occupancy above 60%, AMTT’s comprehensive products, services and operational profit will grow rapidly,” the investor said.
Last year AMTT added an O2O microcloud platform and consolidated its top Chinese app service partners like Yongche’s chauffeur service, Dianping’s customer review, ilovegame.net gamer app, and Xiaoi AI platform to pioneer an O2O ecosystem that will benefit hotels, IT and suppliers. It is promoting its “hotel micro service” that is expected to grow at a rate of 1,000 hotels a year.
One analyst said AMTT will secure a strong market position after this financing round and will continue to be a leader in the O2O smart hotel ecosystem operations segment for a period of time.(Translation by David)