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.

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.

Mews, a provider of hospitality technology, announced the acquisition of Atomize, the Swedish-headquartered Revenue Management Software (RMS) provider.

Atomize provides a revenue management platform that enables real-time price optimization, unlocking huge revenue opportunities for hotels around the world.

Richard Valtr, Founder of Mews, said, “In an industry where bookings can happen at any time, making informed decisions in real-time is crucial. Traditional revenue management systems often result in hoteliers resorting to blanket price changes. This is why we are so excited to bring Atomize onboard to equip our customers with predictive insights and market data, empowering them to maximize revenue.”

Founded in 2016 by Leif Jägerbrand, Atomize is designed for forward-thinking hoteliers, transforming complex market data into actionable insights, offering optimal pricing in real time, up to two years into the future, while minimizing manual interventions. Atomize has customers in over 50 countries, across five continents. Its main capabilities include:

• Real-time dynamic pricing: Powered by smart algorithms, Atomize RMS continuously monitors market demand, booking patterns, competitor rates and more to automatically adjust room rates in real time
• Granular room level pricing: Hotels can optimize rates down to an individual room type (based on market demand), guest preferences and the perceived value of each room type, leading to more effective revenue optimization
• Multi-property and group pricing capabilities: One centralized platform to enable consistent revenue management for multi-property chains and groups, while accounting for each property’s unique market conditions
• Automation and human-control: Atomize combines sophisticated pricing algorithms with the flexibility for hoteliers to guide their pricing strategies

Matt Welle, CEO of Mews, commented, “Atomize has been one of our key strategic partners since 2018 and together we have helped hundreds of customers to seamlessly manage both revenue and operations. Bringing the expertise of the Atomize team and the world-class product into the fold is a huge milestone for Mews as we continue to transform hospitality.”

Leif Jägerbrand, Founder and Chairman of the Board at Atomize, commented, “Becoming part of the Mews family marks an exciting new chapter for Atomize and the hospitality industry at large. With Mews’ global reach and commitment to innovation, we see tremendous potential to bring hoteliers a more comprehensive approach to managing revenue and operations. By aligning our strengths, we’re better positioned to support hoteliers in delivering exceptional guest experiences while boosting profitability. We believe the future of hotel technology lies in smart, unified solutions, and this partnership brings us one step closer to realizing that vision.”

“We couldn’t be more excited about being part of the Mews family,” said Alexander Edström, CEO of Atomize. “With Atomize now part of Mews, it marks an exciting new chapter for the entire hospitality industry as we unite our advanced revenue management technology with Mews’ comprehensive platform. This creates long-term possibilities to innovate further, deeper and faster, setting new standards for operational intelligence and revenue optimization. Together, we are creating a foundation for the next generation of hoteliers to thrive, not just today, but in a rapidly evolving industry that demands forward-thinking, scalable solutions.”

CEO at Kronen Hotel Group in Norway, Chris Pedersen added: “Atomize has been exactly what we needed to maximize revenue and efficiency. Its real-time rate suggestions allow us to respond instantly to shifting booking patterns, helping us boost RevPAR by 35% for our entire group and saves us about ten hours a week per hotel, totaling fifty hours of time saved each week. With Mews and Atomize, we're not only staying agile in a dynamic market but are also creating a seamless, high-value experience for our guests and a more resilient operation for our team."

HotelKey, an all-in-one cloud-based system for hotel operations, announced today that IHG Hotels & Resorts has named the company’s technology platform as its first approved cloud-based Property Management System (PMS) solution for limited-service brands in the United States and Canada.

Announced earlier this week at the 2024 IHG Americas Investors & Leadership Conference in Las Vegas, Nevada, HotelKey's technology platform provides elevated performance and improved efficiency for IHG's select service brands including: Holiday Inn Express, avid hotels, Garner, Atwell Suites, Staybridge Suites, and Candlewood Suites.

HotelKey's solution provides hotel owners and operators with turnkey property management. It also allows their teams to prioritize guest engagement, upsell opportunities, stay enhancements and simplify the IHG One Rewards enrollment process –all while reducing the operations around daily tasks.

“IHG is working hard to drive step-change performance for our hotels through modern, connected technology. Over the last year, we enhanced the capabilities of our Guest Reservation System, introduced a cutting-edge revenue management platform, and now, we’re evolving the core property system – the PMS,” said Jolie Fleming, Chief Product & Technology Officer, IHG Hotels & Resorts. “HotelKey’s cloud-based property management is another step in our journey to offer a best-in-class suite of technology for IHG hotels.” 

"We are excited to bring our technology platform to IHG's limited-service portfolio, driving enhanced guest experience and operational efficiency at each property," said Aditya Thyagarajan, Co-Founder and President, HotelKey.

HotelKey will be deployed at 250 IHG properties by the end of this year, with a goal of 1,500 properties online by the end of 2025.

"Through our close collaboration with the IHG team, we're committed to delivering a seamless transition that paves the way for long-term success," said Fareed Ahmad, Co-Founder & CEO, HotelKey.

Phunware, Inc. (“Phunware” or the “Company”), a leader in enterprise cloud solutions for mobile applications, released The Essential Guide to Resort Guest Digital Experience.

The guide is based on a survey, conducted by Phunware, of 780 U.S. travelers from August to September 2024 to better understand resort guest expectations, behaviors and preferences using mobile apps while traveling.

“As digital technology levels the boundaries between physical and digital experiences, resort guests increasingly seek seamless, intuitive, and personalized interactions throughout their stay,” said Jeremy Kidd, General Manager, Phunware Software. “In today’s competitive hospitality industry, understanding resort guest values, preferences, and motivations regarding digital services has become crucial to delivering exceptional resort experiences.”

The Phunware guide explores the boundaries between physical and digital experiences and guest expectations of interactions at resorts. The survey findings suggest that, from mobile check-ins and digital room keys to personalized recommendations and instant service requests, resort guests now expect the same high level of convenience and efficiency of mobile and related digital services that they do in other aspects of their daily lives.

The following are some of the key findings of the survey:

• 77% of guests expected high personal data protection.

• 83% of guests indicated that they were likely to provide feedback using a mobile app after participating in a resort activity or service.

• 65% of guests said mobile app engagement enhances their views of the ‘resort’s commitment to the guest experience.’

• 82% of guests indicated that using a resort’s mobile app would ‘improve their overall experience.’

• 95% of guests supported the notion that resorts should offer ‘real-time updates on activity and service availability.’

• Guests rated ‘ease of booking’ and ‘booking convenience’ as top drivers, 64% and 56%, respectively, in their decision-making to utilize ancillary resort services.

• 74% of guests indicated that they would likely use a retailer's app when shopping, underscoring the importance of mobile engagement in hospitality.

Phunware believes these findings are indicative of significant opportunities for brands to address hospitality guest digital preferences and build positive impressions with those guests through mobile app interactions, regardless of their prior digital engagements.

Methodology Note: the guide is based on a Phunware survey of a representative sample of 780

U.S. travelers with data collection from August to September 2024.

The full guide can be found here.