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David Woolenberg, CEO of Duetto- Image Credit Duetto
- Duetto, a hospitality revenue management software provider, has acquired HotStats, a company known for hotel financial benchmarking.
- This acquisition aids Duetto’s aim to become a comprehensive operating system for hotel revenue and profit, encompassing rooms, food & beverage, and other services.
Hospitality software provider Duetto has acquired HotStats, a hotel financial benchmarking services company. This move is a strategic step in Duetto’s pursuit of becoming the comprehensive operating system for revenue and profit in the hotel industry.
Integrating HotStats into Duetto’s portfolio will give hoteliers a comprehensive view of their top-line revenue and operating performance across various sectors, including rooms, food and beverage, and auxiliary services.
HotStats’ core product, a hotel profitability benchmarking tool, will complement Duetto’s mission to integrate all revenue streams under a single platform. This union aims to offer hotel operators a clear and actionable view of their profits, facilitating data-driven decisions that boost efficiency and enhance guest experience.
Michael Grove, CEO of HotStats, expressed enthusiasm about the merger, noting that consolidating HotStats’ financial insights with Duetto’s focus on optimizing revenue and profit could help hotels identify new opportunities. This could improve operational efficiency, customer demand satisfaction, and profitability optimization across all business aspects.
This acquisition underscores Duetto’s commitment to strategic expansion. Under the ownership of GrowthCurve Capital, which acquired Duetto last year, the company continues to focus on developing and applying advanced analytics, comprehensive reporting, and evolving product suites. The intention is to establish Duetto as a trusted partner for hotels seeking a unified source for their revenue intelligence and profitability metrics. The entire HotStats team is set to join Duetto following the transaction.
The terms of the transaction were not disclosed.
