The merger follows Guesty's latest funding round and expands its presence in strategic regional markets to further its mission of becoming the premier global provider of property management and hospitality solutions
LOS ANGELES, Sept. 28, 2022 /PRNewswire/ -- Guesty, the leading property management platform for the short-term rental and hospitality industry, today announced the acquisition of Spain-based vacation rental software company, Kigo, and Australian property management software company, HiRUM. Guesty will welcome Kigo's and HiRUM's existing teams into the Guesty family, expanding its global reach, increasing R&D resources and product advancement for customers of all three platforms. The mergers continue Guesty's long-term growth vision, extending further into new markets and offering an end-to-end solution to manage the complex needs of property managers and hospitality professionals in all category segments, wherever they operate.
Kigo and HiRUM bring thousands of customers to the Guesty family of product solutions, representing short-term rentals, vacation villas, and hospitality listings within Europe and Australia's thriving tourism sector. United in the same mission, all three companies are working to standardize and advance the best-in-class software experience for simplifying property management and operations for property management companies (PMCs) and hospitality operators of all sizes. Together with Kigo and HiRUM, Guesty expands its capabilities for flexible inventory management, allowing operators to handle traditional hotel listings, aparthotels, holiday homes and short-term rentals from one dashboard.
"Guesty, Kigo and HiRUM view consolidation as the path forward in such a dynamic space and fragmented industry," said Guesty Co-Founder & CEO, Amiad Soto. "The continued advancement of property management solutions, technology and service requires substantial resources and financial investment that can only be achieved by merging the industry's best teams and regional leaders under one entity."
"As our industry matures, we recognize Guesty's market leadership and winning technology," said Miquel Ferrer, General Manager of Kigo. "This move allows us to deliver product innovation much faster, while also driving industry standardization and deepening our business partnerships within the ecosystem. Through this acquisition, Guesty also strengthens its local presence in Europe leveraging Kigo's assets and team of experts." Mr. Ferrer will continue serving in his role as General Manager of Kigo, a Guesty company.
HiRUM Software Solutions is a household name in Australia's tourism sector, with its headquarters on the Gold Coast of Queensland. The company powers small and large hospitality operators and counts prestigious brands as its loyal customers, including Palazzo Versace Gold Coast, Wyndham Hotels & Resorts, Ramada by Wyndham and Grand Mercure Hotels & Resorts.
"For more than two decades we've helped Australia's leading hospitality brands streamline their operational processes, maximize revenues and grow the local tourism sector," said Sylvia & Philip Johnston, co-Founders and co-CEOs of HiRUM Software Solutions. "We are excited to join forces with Guesty and work in tandem to power the next generation of hospitality and property management technology. We will continue to stay on in our roles with HiRUM to ensure our customers receive the best-in-class service."
"The merging of Guesty and HiRUM marks a major milestone in Australian hospitality and a new era of technological advancement," says Yoav Tourel, Guesty's APAC Managing Director. "HiRUM's legacy, experience and knowledgeable roots in the local market pair perfectly with Guesty's global outlook. Together we will push forward the next era of property management solutions, covering the full ecosystem, from traditional hotels to vacation villas and short-term rentals. The timing could not be better, with Australia's tourism market booming in full recovery mode."
The acquisitions follow Guesty's latest funding round of $170 million last month, from top-tier investors Apax Digital Funds, MSD Partners and Sixth Street Growth, with existing investors Viola Growth and Flashpoint also participating. With a current global employee base of more than 600 and growing, Guesty now welcomes the Kigo and HiRUM teams within the United States, Spain, the Philippines and Australia. As one entity, Guesty increases its regional market share, expands its technological capabilities and services, and further cements its leadership position in its category.
Guesty is the world's leading property management platform for the short-term, vacation rental and hospitality industry. Serving everyone from hosts to hotel brands, customers utilize Guesty's platform and solutions to centralize their reservations, guest communication, operational tasks, cleaning management and more across all the major booking OTA channels, including Airbnb, Vrbo, Booking.com, Tripadvisor, Expedia, Agoda, direct booking websites and more. With 15 offices serving customers worldwide, Guesty empowers hospitality operators to save time and resources so that they can focus on maximizing occupancy, ensuring a great guest experience, and growing their business.
With offices in Spain, the United States and the Philippines, Kigo is a vacation rental management software and cloud-based platform, enabling businesses to effortlessly manage bookings, maximize revenue, reduce costs, expand their property portfolio, and streamline the end guest experience. Kigo's vacation rental management software was founded in 2008 and is used world-wide by companies all over the globe, servicing thousands of hospitality listings, with a specific dominance in the European market.
HiRUM Software Solutions is a leading Australian property management system, providing hotel and accommodations managers with a complete end-to-end solution, including Trust Accounting and channel management software. For over 20 years, HiRUM has helped small and large hospitality businesses streamline operational processes and maximize revenue.
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