Duetto, a leading provider of revenue management software in the hotel industry, has announced the acquisition of HotStats, a globally recognized firm specializing in financial benchmarking for hotels.
This strategic move represents a key step in Duetto’s roadmap, aiming to establish itself as the comprehensive operating system for revenue and profitability management in the hotel sector. With the integration of HotStats, the company enhances its ability to provide hoteliers with a complete and differentiated view of performance not just in room revenue, but also in key areas such as food and beverage and other ancillary services.
“We are delighted to welcome HotStats to the Duetto family,” said David Woolenberg, CEO of Duetto. “By expanding our existing portfolio of solutions with HotStats’ financial benchmarking data, we can offer the most comprehensive solution in the industry to drive revenue and profit optimization. Together, we will reimagine the possibilities for hotel revenue and profitability.”
HotStats’ hotel profitability benchmarking drives Duetto’s mission to unify all revenue sources on a single platform. This new alliance will provide hoteliers with a clear and actionable view of their total earnings, empowering data-driven decisions that boost efficiency and enhance the guest experience.
“Duetto’s commitment to transforming revenue and profit optimization perfectly aligns with our mission to deliver actionable financial insights,” said Michael Grove, CEO of HotStats. “We see enormous potential in joining forces, expanding our impact to help hotels identify opportunities to improve efficiency, better meet customer demand, and optimize profitability across all areas of their operations.”
“For some time now, HotStats has been a pioneer in profitability benchmarking, and it makes perfect sense for its next step in evolution to be with a technology provider that shares its vision,” said Jonathan Langston, founder and outgoing president of HotStats.
This acquisition highlights Duetto’s commitment to strategic expansion under the ownership of GrowthCurve Capital, which acquired Duetto last year. By developing and employing advanced analytics, robust reporting, and a continuously evolving product portfolio, Duetto reaffirms its position as the go-to partner for hotels looking for a unified source of revenue intelligence data and profitability metrics. The entire HotStats team will join Duetto as part of the transaction.
Houlihan Lokey acted as financial advisor, and Orrick, Herrington & Sutcliffe served as legal advisor for Duetto. Gately plc was the legal advisor for HotStats. The terms of the transaction were not disclosed.