Hotel business intelligence platform OTA Insight raises $80 million

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OTA Insight, a market intelligence platform that provides hotels with data and analytics to grow their revenue and business strategy, raised $80 million in a Series B funding round.

Founded in 2012, London-based OTA Insight offers a range of products designed to bring “smarter revenue, distribution and marketing results” to some of the world’s largest hotel chains, including Radisson, Holiday Inn and Crowne Plaza. .

Its products include Market Insight, Rate Insight, Parity Insight and Revenue Insight, which collectively capture and aggregate real-time reservation data from a myriad of sources to help hotels determine demand in markets – for example, compare prices against competitors and monitor performance. of their entire hotel portfolio.

“For global chains and independent hotels, we’ve made it simple and intuitive to use data to make better business decisions and provide real competitive advantage,” OTA Insight CEO Sean Fitzpatrick said in a statement. .

Above: OTA Insights: market overview

Previously, OTA Insight raised approximately $20 million, and with an additional $80 million in the bank from private equity firm Spectrum Equity, the company is well funded to capitalize as the global hospitality industry continues its recovery from the lockdown measures introduced in the wake of the global pandemic.

“Before the pandemic, the hospitality industry was open to incremental adoption of new technologies – our business saw significant growth through 2020 despite industry headwinds, but 2021 was a breakthrough year for us because the recovery has accelerated the pace of technology adoption,” Fitzpatrick continued. “We anticipate unprecedented opportunity and growth as the recovery continues.”

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