News Briefs

Lighthouse, a commercial intelligence platform for the travel & hospitality industry, announced an approximately $370 million growth investment led by global investment firm, KKR. This investment accelerates Lighthouse's mission to reimagine commercial strategy for the $15 billion travel & hospitality technology market. Proceeds from the investment will be used to drive continued product innovation across Lighthouse's platform, strategic acquisitions, and global expansion efforts.

Lighthouse’s suite of products provides revenue managers, commercial leaders, and accommodation owners with easy-to-use tools that drive incremental bookings, streamline operations, and enable a better customer experience for guests. The platform is underpinned by proprietary technology that processes over 400 terabytes of travel and market data daily and leverages AI to deliver real-time insights that enable customers to make better and more efficient operational decisions. Lighthouse has established itself as hospitality's leading commercial intelligence platform, with 700+ employees worldwide and an industry-leading NPS score of 70+.

“We're extremely grateful to the 70,000+ hospitality providers, who have placed their trust in Lighthouse," said Sean Fitzpatrick, CEO of Lighthouse. “I couldn’t be more energized by what we’re working towards. We’re just getting started in making hospitality data and tools more powerful, accessible, and affordable. This investment by KKR significantly accelerates our ability to enhance our commercial platform through expanded AI capabilities and additional data sets, enabling us to better serve our existing customers while continuing to expand across the hospitality market.”

KKR has established a proven track record of supporting technology-focused growth companies, having invested approximately $23 billion in related investments since 2010 through its private equity and growth equity funds and built a dedicated global team of nearly 70 investment professionals with deep technology growth equity expertise. Lighthouse will be able to leverage KKR’s extensive industry experience, local resources and global network to help further enhance its customer offerings and tap into new segments globally.

“Lighthouse has demonstrated an exceptional ability to support hoteliers of all sizes – ranging from global chains to independent properties – by addressing the unique needs of each segment,” said Stephen Shanley, Partner and Head of Tech Growth in Europe at KKR. “Their strong track record, customer loyalty, and proven ability to deliver value across varied markets position them as the leading platform in this space. We are proud to support Lighthouse in expanding its global footprint, driving continued innovation, and enhancing its market leading offerings."

This latest funding builds on Lighthouse’s $80M Series B investment round, which was completed in November 2021. Existing investors Spectrum Equity, F-Prime Capital, Eight Roads Ventures, and Highgate Technology Ventures will continue their participation in the business.

KKR is making the investment in Lighthouse through its Next Generation Technology III Fund.

William Blair acted as financial advisor. Latham & Watkins served as legal advisor to Lighthouse and Gibson Dunn as legal advisor to KKR.

Encore, a global event technology and production services provider, confirmed today the launch of its pioneering ‘Overtime Savings Program’ in the United States, along with additional people-first programs to further support its ongoing workforce in a seasonal industry.

Powered by UKG’s payroll technology, this first-of-its-kind program aims to enhance financial wellness and stability for Encore’s frontline employees, many of whom work in markets that experience seasonal ebb and flow of business volumes.

With 12,000 team members providing event technology and production services at 2,200 hotels and conference venues in 20 countries, Encore faces the same challenges common in the hospitality industry. Seasonal fluctuations often result in workers’ hours varying from ample overtime during peak times to reduced schedules in off-season periods. This seasonality makes it difficult for workers to maintain consistent earnings and creates challenges for companies to retain talent in the off season.

“Encore has always believed its team members are the heart of our story. This people-first mindset motivates us to constantly evolve our team member experience and innovate around challenges, like the impact of seasonality, that the industry previously viewed as immutable,” said Ben Erwin, president and CEO of Encore.

In addition to the Overtime Savings Program, the company launched a Seasonal Leave of Absence Program, which offers team members the flexibility to take time off during slower seasons while retaining full benefits, accruing paid time off, and maintaining their tenure. This unique program enables employees to explore other work opportunities, pursue education, or focus on personal goals without sacrificing benefits or career progression. Both the Overtime Savings and Seasonal Leave of Absence Programs are active nationwide, with plans for global expansion.

“We established the program as another way to support our team members so that they can be at their best in delivering for our customers,” Erwin added. “With this innovation, they can better plan and save their premium overtime pay for periods of the year when they might not work as many hours. Providing this capability and funding a company-paid match for a portion of the savings should motivate financial wellness and enable them to continue to build their career with Encore. Team member reactions tell us we are onto something,” he said.

With a launch just after Labor Day, usage of the UKG Wallet™ increased tenfold compared to the prior year’s period. he company offered an initial savings match, similar to a 401k program incentive match, to reward healthy financial behavior.

“Financial stress is not a problem isolated to our industry, it’s a stressor for nearly everyone,” said Charlie Young, chief human resources officer at Encore. “Nearly 70% of Americans are living paycheck to paycheck¹ and Americans spent $9B in bank overdraft fees in 2023. The more we can do to reduce stress for our team members, the more focused they can be on our customers. We are successful in the event production business because of the unique combination of our technical expertise, hospitality mindset and ability to work under pressure and through challenges. Seasonal fluctuations are part of our business, but with a partner like UKG that understands every industry has unique challenges, we were able to innovate to support those unique needs to make our team members’ lives better.”

Cody Browne, a technical lead with five years of service for Encore in Las Vegas, said he will try the Overtime Savings program, in addition to accruing and saving his Paid Time Off, for the slow season in December in Las Vegas. He hopes the vacation time, in addition to the saved overtime funds, will afford him an out-of-state vacation to visit family. “I love that Encore is creating new opportunities, that’s one of the reasons I am interested in growing my career here,” he said.

Designed with accessibility and financial freedom in mind, the new Instant mobile app is released with a list of innovative new features and functionality including:

• Faster Access to Earned Wages: Employees have access to their hard-earned wages in fewer steps, with an improved user interface (UI) and key elements surfaced more prominently within the app.
• Modern Security Features: State-of-the-art security protocols, such as facial and fingerprint biometrics, multi-factor authentication, and encryption technologies protect user information and provide peace of mind.
• Flexible Payment Options: Users have the freedom to choose how and when they access their wages. Whether it’s through direct deposit, the Instant card, or a mobile wallet, the new app offers a greater degree of flexibility for all employees, ensuring convenience for all.
• Clear and Informative Design: With improvements to the user interface (UI), the app offers a user-friendly experience, empowering users to make informed choices and navigate the app confidently.
• New Technology Framework: Underpinned by a new technology infrastructure, the new Instant mobile app is faster, more responsive, and built to allow for additional features and functionality to meet the needs of employees and how they are paid.

“Employee demands regarding how they access their wages are constantly shifting, and our new app is meeting that head-on,” said Tal Clark, CEO of Instant Financial. “Whether it’s to cover unexpected expenses, avoid predatory loans, or simply to enjoy more control over their finances, Instant is continually revolutionizing the way people get paid.”

By releasing this enhanced version of its mobile app experience, Instant is furthering its mission of delivering pay to employees, when they want, where they want, and how they want, all free of fees.

Pickpad, a modular system of smart pads powered by sensors and machine learning, has been awarded the prestigious CES 2025 Innovation Award for its pioneering concept to transform the customer experience in restaurants. The Award, produced by the Consumer Technology Association, is an annual competition honoring outstanding design and engineering in 33 consumer technology product categories.

Pickpad’s innovative solution is designed to enhance operational efficiency and boost customer retention for busy restaurants. Seamlessly integrating with existing tech systems, setups, and designs, it operates in the background to automate key processes — double-checking order accuracy, updating statuses, collecting data points, and delivering a uniquely personalized customer experience. This enables restaurants to focus on what truly matters: providing exceptional hospitality.

This new concept has captured the attention of industry experts, earning Pickpad the CES 2025 Innovation Award in the most competitive “Artificial Intelligence” category.

"There are no longer separate digital and physical experiences — there’s only phygital: a seamless customer journey that unites both worlds. Pickpad is designed for this new reality" said Yaro Tsyhanenko, founder and CEO of Pickpad. “We worked tirelessly to develop a solution that not only benefits restaurants, but completely redefines customer experience. This award reflects our commitment to innovation and we are excited to continue pushing the boundaries of technology in the restaurant industry."

The CES Innovation Awards program is highly competitive and recognizes the most innovative and cutting-edge products and services in the technology industry. The judges, consisting of a panel of independent industrial designers, engineers, and members of the media, evaluated submissions based on criteria such as engineering, design, and user value. Pickpad's win in the category of “Artificial Intelligence”  is a testament to its potential to revolutionize the restaurant industry.

The CES 2025 event will take place in Las Vegas from January 9–12, 2025, showcasing the most innovative products across a variety of industries. Pickpad will be featured in the Eureka Park, alongside other groundbreaking startups.

Following this milestone, Pickpad is poised to expand its presence across the U.S., targeting quick-service restaurants to help them achieve unprecedented operational efficiency and customer satisfaction. With successful pilots already completed, the company is gearing up for a broader rollout in 2025.

In an increasingly digital business landscape, the value of face-to-face meetings remains undeniable. New research from Accor, a global leader in hospitality, indicates that professionals globally across industries believe their ability to generate revenue could increase by 36% if all important meetings were conducted in person. The study underscores a key takeaway: while digital tools like video and phone conferencing are useful, the human connection fostered by in-person interactions is perceived as significantly more effective in driving business success and performance.

Human Connection Leads to Revenue Growth

The Accor study, which gathered insights from 9,000 professionals around the world, indicates a strong belief among professionals in the power of face-to-face meetings to drive revenue growth. A striking 85% of respondents expect that prioritizing in-person meetings would significantly boost their revenue, with an average projected increase of 36% over the next year. This statistic highlights the tangible business benefits of face-to-face meetings, suggesting that companies looking to enhance their commercial performance might want to rethink their approach to client interactions.

One respondent stated, “Business professionals expect to close 37% more deals if they were able to conduct all their important meetings face-to-face.” This sentiment is shared by a majority of the professionals surveyed, with 81% indicating they believe they would achieve better business outcomes if they could prioritize in-person meetings.

Face-to-Face Meetings Drive Business Impact

Understanding in-person meetings are an investment, 35% of professionals globally agreed meeting in person is worth the investment in both time and costs. The study shows compelling data in favor of in-person business, with 92% of professionals agreeing it’s important with external clients – 67% stating it’s very important - and 85% of workers agreeing face-to-face interaction is important with internal colleagues.

The data highlights a strong preference for in-person meetings across various business functions, with many professionals believing they offer greater impact and value than virtual alternatives. In fact, respondents believe that one in-person meeting has the same impact as three virtual meetings - a clear indication that face-to-face communication fosters deeper connections and more successful business outcomes.

Around 41% agree that face-to-face interactions are more effective for business, particularly when it comes to sales, closing deals, and overall business success. Nearly 40% emphasize the importance of in-person meetings for their work, with 38% noting that the investment in time and costs is worthwhile. Furthermore, 37% believe in-person meetings are key to fostering company culture, while 35% report higher attendee engagement during these interactions. However, 33% acknowledge that virtual meetings make it more difficult to build personal relationships, underscoring the value of physical presence in the professional world.

Commercial return drives business travel

The primary driver of business travel is commercial, with 34% of professionals polled globally stating that closing a deal is their main reason to travel, closely followed by client (31%) and contract negotiations (30%). Events and trade shows remains a key priority with 30% of professionals saying it’s a primary reason to travel for business. Building and designing business strategy remains vital, the 5^th most significant reason to travel for business, a priority for 20% of professionals.

Global professionals overwhelmingly prefer in-person interactions for key business activities, underscoring the continued value of face-to-face engagement in critical situations. A significant 68% favor conducting client presentations in person, compared to just 17% who prefer virtual formats. Site inspections show an even stronger preference for in-person involvement, with 77% choosing this method over the 11% opting for virtual alternatives. High-stakes business moments, such as closing a deal (74%) and contract negotiations (70%), also see a clear preference for in-person meetings, highlighting the importance of direct human interaction in building trust and finalizing agreements. These findings emphasize that, despite the rise of virtual alternatives, professionals still recognize the unique benefits of face-to-face meetings in fostering strong business relationships and commercial value.

A Hybrid Future for Business Interactions

Looking ahead, the research suggests that hybrid business models—combining both digital and in-person meetings is now the norm. As businesses continue to rely on digital solutions, the human touch provided by face-to-face meetings will remain an irreplaceable aspect of closing deals and fostering strong business relationships. While digital tools offer convenience and global connectivity, they cannot fully replicate the effectiveness of personal interactions.

Sophie Hulgard, Chief Sales Officer, Accor, commented on the findings, noting: “The potential 36% revenue gain from meeting face-to-face will be worth billions to the global economy. People need to connect, and while technology brings us together from around the world, it doesn’t replace the connection, culture and commercial value that comes from in-person interactions. Digital is powerful, but face-to-face is valuable.”

She adds: “Business is about people. Whether you are driving culture or commercial priorities, people are central to business strategy. Our study reveals that businesses stand to benefit greatly from prioritizing in-person meetings, particularly for important negotiations and client engagements. As the world adapts to a new business as usual, companies that find the right balance between virtual and face-to-face interactions are likely to see stronger results, both in terms of deal closures and revenue growth.”

Conclusion: Face-to-Face Meetings as a Competitive Advantage

In a world that increasingly embraces digital transformation, the value of face-to-face communication has never been more evident. Accor’s findings show that business professionals recognize the importance of human interaction in achieving impactful results. With the potential to significantly boost revenue and close more deals, companies should view face-to-face meetings not just as a traditional practice, but as a competitive advantage in an evolving business landscape.