Israel / US / Australia / Spain: Property management platform Guesty has maintained its spree of acquisitions by buying Spain-based vacation rental software firm, Kigo, and Australian property management software company, HiRUM.
Guesty will welcome Kigo’s and HiRUM’s existing teams into the company family, expanding its global reach, increasing R&D resources and product advancement for customers of all three platforms. The mergers are a continuation of Guesty’s long-term growth vision, extending further into new markets and offering an end-to-end solution to manage the complex needs of property managers and hospitality professionals in all category segments, wherever they operate.
According to a press release, Kigo and HiRUM will bring “thousands” of customers to the Guesty family of product solutions, representing short-term rentals, vacation villas, and hospitality listings across Europe and Australia. The companies will now work together to standardise and advance a best-in-class software experience for simplifying property management and operations for management companies and operators of all sizes.
Furthermore, Guesty, together with Kigo and HiRUM, will expand its capabilities for flexible inventory management, allowing operators to handle traditional hotel listings, aparthotels, holiday homes and short-term rentals from one dashboard.
Amiad Soto, co-founder and CEO of Guesty, said: “Guesty, Kigo and HiRUM view consolidation as the path forward in such a dynamic space and fragmented industry. The continued advancement of property management solutions, technology and service requires substantial resources and financial investment that can only be achieved by merging the industry’s best teams and regional leaders under one entity.”
Founded in 2008, Kigo is a vacation rental management software and cloud-based platform, which has offices in Spain, the United States and the Philippines. The company aims to enable businesses to effortlessly manage bookings, maximise revenue, reduce costs, expand their property portfolio, and streamline the end guest experience.
Kigo general manager Miquel Ferrer said: “As our industry matures, we recognise Guesty’s market leadership and winning technology. This move allows us to deliver product innovation much faster, while also driving industry standardisation and deepening our business partnerships within the ecosystem.
“Through this acquisition, Guesty also strengthens its local presence in Europe leveraging Kigo’s assets and team of experts,” he added.
Ferrer will continue serving in his role as general manager of Kigo, a Guesty company.
Headquartered on the Gold Coast of Queensland, HiRUM Software Solutions powers small and large hospitality operators and counts globally recognised brands among its customers, including Palazzo Versace Gold Coast, Wyndham Hotels & Resorts, Ramada by Wyndham and Grand Mercure Hotels & Resorts.
Sylvia and Philip Johnston, co-founders and co-CEOs of HiRUM Software Solutions, said: “For more than two decades, we’ve helped Australia’s leading hospitality brands streamline their operational processes, maximise revenues and grow the local tourism sector. We are excited to join forces with Guesty and work in tandem to power the next generation of hospitality and property management technology.
“We will continue to stay on in our roles with HiRUM to ensure our customers receive the best-in-class service,” they added.
Yoav Tourel, APAC managing director at Guesty, said: “The merging of Guesty and HiRUM marks a major milestone in Australian hospitality and a new era of technological advancement. HiRUM’s legacy, experience and knowledgeable roots in the local market pair perfectly with Guesty’s global outlook.
“Together we will push forward the next era of property management solutions, covering the full ecosystem, from traditional hotels to vacation villas and short-term rentals. The timing could not be better, with Australia’s tourism market booming in full recovery mode,” he added.
The acquisitions follow hot on the heels of Guesty’s $170 million Series E funding round – in a bid to power further growth – last month which was led by Apax Digital Funds, MSD Partners and Sixth Street Growth, with existing investors Viola Growth and Flashpoint also participating. To date, the company has raised almost $285 million in funding.
Meanwhile, earlier this month, Guesty also purchased hotel-focused revenue and distribution platform, YieldPlanet, and launched its Distribution Hub, adding direct OTA connections with Hopper, Trip.com, Marriott Homes & Villas and Google’s hotel and vacation rental search products in the process.
That was in addition to the acquisitions of competing property management softwares MyVR and Your Porter, which have both joined the Guesty portfolio in the last 17 months.
With more than 600 employees now in Guesty’s ranks following the acquisitions, the company will increase its regional market share in the United States, Spain, the Philippines and Australia, as well as expand its technological capabilities and services, as one single entity.