NYC’s annual Hospitality Investment Conference, taking place this year on June 1 – 3, is one of the highlight’s of the Hospitality Industry’s calendar.
TravelClick, a New York based software company in the hotel and hospitality market, was recently bought out by Thoma Bravo LLC for $930 million. The deal was signed with venture capital firm Genstar and Bain Capital, which acquired the company seven years ago. Even though Thoma Bravo has purchased 29 software companies during the past ten years, TravelClick is its single acquisition in the hotel and leisure market segment. According to Larry Kutscher, the CEO of TravelClick, “With Thoma Bravo coming in, we get fresh capital and a fresh pair of eyes.”
Improved Economy Filters Down to Hotel Industry
The international hotel and hospitality segment has been experiencing a steady growth as the economy continues to improve. Net revenues from TravelClick bookings amounted to $257 million in 2012 and that figure is expected to reach $300 million by the end of 2014. The company experiences success with smaller brands or independent hotels by following its vision of helping clients grow profits across all business lines. By keeping that strategy in mind, it develops technology and staffing products designed to meet that goal. In the past three years since Executive Vice President Jonathan Cherins joined the company, he has witnessed a growth in sales exceeding 35%. In an interview with Tnooz, Cherins stated, “We came with a clear vision of what we wanted the company to be. We executed organically by using our capital wisely to improve our reservations product, to improve our business intelligence product, to invest in our people and our distribution network.”
Developing Software Systems for Hotels
TravelClick has established itself in the hotel and hospitality industry by providing forward-looking facts and figures, which hotel owners take advantage of to make adjustments to room rates and to plan strategy that increases levels of occupancy. Its client lists includes 37,000 clients that provide services to leisure clients as well as business travelers. By maintaining an in-market distribution network, it is able to create personalized solutions that are appropriate to each and every client.
Last Saturday night, Melissa Gitlin, 44, and her husband, Jordan Gitlin, 45, were looking to have a nice dinner in the city with another couple they hadn’t seen for a…
When it came time to order something special to share with old, dear friends, the Gitlins didn’t opt for a pricey platter of raw shellfish or a decadent foie gras appetizer. Instead, they went for an emu egg. Yes, an emu egg.
See on nypost.com
As the heat rises in her body, her legs go numb but the track remains in front of her. The other runners whiz by, and then she takes the lead. Faster, pushing herself to the limit, Kayla Montgomery…
Mastering and beating a crippling disease, this incredible young high school student acts as an inspiration not just for runners the world over but for anyone trying to accomplish a goal that they feel is too far for them to attain.
See on www.jonathancherins.net
Manhattan Celebrates Its First Half Marathon Of The Season
In spite of the below freezing weather that faced them as they prepared to make their way through the wondrous island that is New York City
These competitions celebrate the coming together of the New Yorkers and is a convergent point for #marathon enthusiasts from around the globe
See on my.telegraph.co.uk
Jonathan Cherins, executive vice president, Americas and enterprise for TravelClick, talks about the company in light of the recent ownership change.
After seven years of ownership by venture capital firm Genstar and Bain Capital, #TravelClick, a hospitality tech provider based in New York, has been acquired by Thoma Bravo, a US private equity group, for $930 million.
See on www.tnooz.com
By Jonathan Cherins
With countless types of travelers, hotels have the opportunity to attract a variety of visitors. For some this may be easier than others, but managing reservations and visibility for lodging offers just became a whole lot easier. GTA has now partnered with TravelClick to increase the amount of business for hotels around the world. This is expected to bring up room bookings because of GTA’s Supplier XML Application Program Interface, simplifying the process of booking a room and remaining committed to that booking. When lodging consumers search online to find the best deals, and the most favorable availability, they usually hope for accurate information.
We have all had instances when we arrived to a location that we had checked for details online previously, only to find we had a different price, or lack of availability in practice. Hotels need to be ever more vigilant when it comes to advertising their room vacancies and prices, as potential customers may lose interest in being a customer if they learn they were accidentally double-booked or needing to pay a higher price. With the new interface from GTA, TravelClick is committing to serve its customers on a higher level, by making pertinent information about TravelClick’s hotel clients easily and immediately available to tens of thousands of travel selling businesses using GTA’s booking systems. Room rates and their availability are now even more accessible, and it also helps hotels to keep their rates and vacancies as accurate and updated as possible.
TravelClick is embarking on multiple partnerships to provide its clients with more ways to increase the rooms they rent and of course profits throughout online channels. Thanks to the new interface from GTA, hotels can reach more new and existing customers aside from their size or budget. Jonathan Cherins is the Executive Vice President at TravelClick and resides in Maplewood, New Jersey.
Image courtesy of Stuart Miles / FreeDigitalPhotos.net