A month after acquiring the transparent business intelligence brand for vacation rentals, OTA Insight has made another purchase, this time of a smart hotel revenue platform Kriya RevGen.
Terms of the agreement were not disclosed, but Overview OTA says the acquisition was based on macro trends it sees in the market as hotels transition to modern cloud providers.
Dallas-based Kriya RevGen’s brand-neutral Spider Analytics platform streamlines data collection, analysis and reporting to optimize hotel group performance.
By integrating, OTA Insight and Kriya RevGen will form what they say is the only business intelligence solution on the market that provides tailored insights for hotel-level users and multi-property users.
“We feel truly privileged to bring together the best teams, solutions and data to deliver the next generation business platform for the hospitality industry,” said OTA Insight CEO Sean Fitzpatrick.
“We are so impressed with how Kriya RevGen simplifies the management of complex business strategies across hotel portfolios.”
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Founded in 2013, Kriya RevGen has provided revenue solutions to over 1,000 hotels across North America and supports nearly every global brand, system, and major management company.
“RevGen has experienced rapid organic growth over the past few years, particularly within management groups and chains,” says Bill Daviau, co-founder and CEO of Kriya RevGen.
“OTA Insight’s vision, global reach and culture make it the perfect fit for our team. We are excited about this next stage of our growth.”
Daviau and the Kriya RevGen team will remain on board, and OTA Insight plans to continue to grow the team and business significantly over the coming year.
“There are many cross-selling opportunities within our collective customer base, this will be a big area of focus,” says Fitzpatrick.
Founded in 2012, OTA Insight raised an $80 million Series B investment round from Spectrum in November 2021.
Its total funding is now $100 million. Spectrum Equity joined existing investors Eight Roads, F-Prime Capital and Highgate Technology Ventures in the round.