Thoma Bravo has agreed to acquire cloud-based hospitality solutions company TravelClick from Genstar for $930 million. TravelClick’s software enables hotels to optimize performance and grow revenue. TravelClick was acquired by Genstar and Bain Capital Ventures in 2007. TravelClick has more than doubled revenue and EBITDA since the acquisition.
?Our strong working partnership with Genstar and Bain allowed us to significantly invest in our business to drive growth both organically and through two significant acquisitions, which include the purchase of Rubicon and EZYield. By updating our technology, building out our business intelligence offering, implementing a new reservation booking engine, and nearly doubling our sales force, we were able to grow distribution channels and new products. We have become a key partner to our global hotel clients as they rely on TravelClick?s rich industry data, technology and marketing solutions to continue to enhance their competitive position and increase bookings and revenue,? stated TravelClick CEO Larry Kutscher.
Some of TravelClick’s clients include Hilton Hotels, Crown Hotels, Loews, and The Bryant Park Hotel. TravelClick is used by over 37,000 hotel properties in 150 countries.