News Briefs

  • 3/10/2024

    PAR Acquires TASK, Stuzo

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    PAR Technology Corporation announced two transactions that expand its cloud-based unified commerce software offerings into convenience stores and fuel retailers, as well as international markets. 

    Both transactions adhere to PAR’s disciplined M&A strategy of acquiring best-in-class products with marquee customer bases, ample cross-selling opportunities, and significant addressable markets. Further, both deals are highly financially accretive and supercharge PAR’s path to sustainable profitability.

    • TASK, an Australia-based global foodservice transaction platform, offers international unified commerce solutions, including interactive customer engagement and seamless integration, tailored for major brands worldwide. This has made TASK’s transaction management platform the platform of choice for some of the world’s most successful and recognized foodservice brands including, Starbucks, and Guzman Y Gomez while its loyalty customer engagement platform is used by McDonald’s in 65 markets. With the addition of TASK, PAR will be able to serve the top enterprise foodservice brands across the globe with a unified commerce approach from front-of-house to back-of-house.
    • Stuzo, a digital engagement software provider to Convenience and Fuel Retailers (C-Stores), including its Open Commerce  Platform, empowers C-Stores to gain more share of the customer wallet and drive customer lifetime value. This acquisition strengthens PAR’s business strategy to expand its available market by addressing an expanding foodservice market with a ‘best of breed’ platform that is highly profitable. With Stuzo, PAR is now a leader in technology for convenience and fuel retailers with over 25,000 sites and substantial opportunities for innovation in the C-Store industry.  

    PAR has entered into an agreement to acquire TASK Group for cash and PAR common stock at an implied value of approximately $206 million assuming an all-cash transaction, and has completed its acquisition of Stuzo Holdings, LLC for approximately $190 million paid in cash and stock. The closing of the TASK acquisition is expected to occur in the third quarter of 2024, subject to TASK shareholder approval, Australian court approval, certain regulatory approvals and other customary closing conditions.

  • 3/8/2024

    Olo, Qu Form Partnership

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    Olo Inc. announced an expanded partnership with Qu to offer Olo Pay card-present payment processing via Point-Of-Sale (POS).. In addition to Olo Pay, Qu will integrate with the Olo Engage product suite to empower restaurant brands with Hospitality at Scale solutions that inform data-driven decision making and elevate the guest experience.

    Both Pay and Engage integrations will be instrumental in supporting the industry’s increasing adoption of digital. By integrating with Qu POS, Olo Pay will allow brands to streamline the on-premises payment process by unifying payments management and reducing challenges when it comes to reconciliation, voiding, and refunding. Similar to Olo’s card-present payment processing capabilities offered via kiosk, guests will have the same flexible payment experience Olo Pay offers in non-card present transactions, including the ability to pay with mobile wallets.

    The Olo Pay card-present integration with Qu POS will be live later this year.

    “According to data from Circana, 84% of restaurant transactions are not yet digital. Olo’s integration with Qu brings the industry one step closer to reaching 100% digital, equipping our restaurant brands with the flexible tools to increase orders, streamline operations, and make every guest feel like a regular,” said Noah Glass, Founder & CEO of Olo. “Olo’s open platform and Olo Connect network of over 300 integrated technology providers prove that working together is the best way to accelerate the industry’s digital transformation: a philosophy Qu shares. The industrial logic of the partnership between Olo and Qu is clear, and we’re proud to offer this new level of flexibility through our Olo Pay and Engage integration.”

    With the addition of the Engage integration, restaurant brands leveraging Qu’s POS will be empowered to aggregate both digital and in-store interactions made possible by the Olo Pay integration, as well as, all online guest interactions into a single guest data profile to better understand their guests, provide hyper-personalized interactions, and deliver personalized hospitality.

    “This partnership is rooted in our joint desire to further digital innovation industry-wide, ensuring brands get more out of this best-in-class in-store and digital solution,” said Amir Hudda, CEO of Qu. “Enabling card-present digital transactions at the POS will not only streamline the payment process, but it will also allow brands to collect more data than ever, down to the ingredient level, that can be used to further personalize each guest experience through Olo Engage.”

  • 3/7/2024

    Sonesta Gains 50% in Training Adoption and Advances Safety Initiatives with Interplay Learning

    interplay logo

    Interplay Learning, a provider of online and VR training for the essential skilled trades announced that  Sonesta International Hotels Corporation (Sonesta), a globally renowned hotel company with 1,200+ hotel properties worldwide, selected Interplay to increase engineer training adoption and advance safety initiatives for 500 impacted employees. Since implementing Interplay’s innovative training solution in the latter half of 2023, Sonesta has already observed a 50% increase in training adoption over the previous year.

    Focused on a safety-first approach, Sonesta prioritized launching quarterly core safety courses and emphasized OSHA compliance within its training programs. Intending to modernize training delivery and increase engagement for maintenance engineers, the hotel group made huge strides in these critical areas, enabling Sonesta to provide innovative simulation training that engineers want to use, stay at the forefront of industry best practices, develop careers, and deliver exceptional experiences to guests.

    “Our main focus was getting our engineers engaged and into the training so we could build core safety skills and level-set foundational competencies,” said Kate Stiteler, Director of Training at Sonesta. “Interplay has been a great partner in delivering training that fits the growing and changing needs of the hotel business at scale, and the impressive doubling of our training adoption rates within just six months is a testament to its effectiveness.”

    “Our partnership with Interplay has been transformative for our training programs, and we are excited about the possibilities it opens up for the future as we explore learning paths customized to distinct job roles and property types,” said Steve Jurczyk, Director of National Engineering & Facilities Operations, Sonesta. “While safety is a primary focus, we now offer skill-specific courses for our hotel engineers.  We’d love to expand our training to include VR to enhance the learning experience and also help attract new talent into our maintenance and engineering departments.”

    “Sonesta is redefining hospitality standards by focusing on innovation in its maintenance and engineer training,” said Doug Donovan, CEO and founder of Interplay Learning. “The significant increase in training adoption rates is a testament to their forward-thinking training strategy, and we take pride in our role in supporting Sonesta as they lead the charge in upskilling their workforce.”

  • 3/6/2024

    Tripleseat Solves The Large Party Reservation Problem for Restaurants and Their Guests

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    Tripleseat, the leading innovator in cloud-based sales and event management software for restaurants and hotels, launches a one-of-a-kind reservation solution to help consumers and restaurants reserve tables for large parties.

    Built on the TripleseatDirect platform, the new Large Party Reservations solution caters to large party reservations typically between 6-15 people.  Reservations of 6+ people are a challenge for both people looking to book a table and restaurants trying to accommodate them. For restaurants, large parties can be difficult to manage and staff resulting in poor service and lost revenue. For guests, it is a challenge to secure a table with restaurants causing frustration for everyone.

    Tripleseat’s new Large Party Reservations product solves the headaches of reserving and servicing large reservations by enabling the restaurant to offer online table availability, pre-ordering, and up-front payment. Armed with all the details for the reservation, the kitchen can prepare in advance and the venue can staff appropriately resulting in a positive and profitable reservation for everyone.

    “Tripleseat continues to develop solutions to tackle challenges that restaurants face every day and turn them into revenue opportunities,” says Jonathan Morse, CEO of Tripleseat. “The Large Party Reservations product solves a big problem for restaurants and addresses the needs of consumers by providing them with an easy and quick reservation capability.”

  • 3/6/2024

    WTTC Launches Roadmap To Guide Businesses Through the Jungle of Sustainability Reporting in Travel & Tourism

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    The World Travel & Tourism Council (WTTC) launched a pioneering readiness roadmap, aiming to simplify sustainability reporting in the Travel & Tourism sector.

    Launched during ITB Berlin, WTTC and Oliver Wyman announced the Sustainability Reporting Readiness Roadmap, a strategic tool to guide businesses through sustainability frameworks, compliance timelines, and readiness assessments, simplifying the journey towards sustainable compliance.

    This roadmap is more than just a tool; it’s a strategic compass, enabling companies to decode sustainability reporting complexities, identify relevant compliance standards, and evaluate their sustainability data and platform maturity.

    The call to action is clear: governments must offer sector-specific guidance and phased requirements to ease companies into this new sustainability era.  This roadmap provides both the public and private sector the direction needed to begin their journey of sustainability reporting.

    Alongside the Roadmap, WTTC and Oliver Wyman also release a new report “Navigating the Sustainability Journey: The Impact of Mandatory Reporting on Travel & Tourism”, designed to tackle the sector´s unique sustainability challenges.

    The report explores the impact of the three most influential sustainability reporting frameworks on the sector – the Corporate Social Responsibility Directive (CSRD), the International Financial Reporting Standards (IFRS) and the U.S. Securities and Exchange Commission (SEC) Climate-Related Disclosures – and offers insights to navigate the changing regulatory landscape effectively.

    According to the report, some Travel & Tourism companies are unprepared for the imminent sustainability compliance standards, with urgent action needed, especially concerning complex supply chains and Scope 3 emissions reporting.

    Julia Simpson, WTTC President & CEO, said: “Sustainability reporting is no longer negotiable for Travel & Tourism businesses. It is a challenge we must confront head-on.

    “Our Roadmap serves as the trusted navigator through the intricacies of sustainability reporting, acting as a guide and providing clarity. It is not merely about meeting regulatory requirements; it is about propelling businesses towards sustainable growth and resilience.”

    Dan Darcy, Principal with Oliver Wyman’s Transportation & Services practice, said: “Sustainability reporting requirements are a significant challenge for Travel & Tourism companies – cross-border organisations with broad value chains who have weathered a pandemic and subsequent resurgence in demand.

    “But these requirements are essential for protecting the destinations, ecosystems, and communities that inspire travellers. By setting ambitious goals and showing progress, we will prove our industry’s commitment to sustainability.” 

    As the sector embarks on this journey towards greater transparency and sustainability, the roadmap’s diagnostic tools enable companies to pinpoint their sustainability standing, bridge gaps, and chart a path towards compliance and a sustainable future.

  • 3/6/2024

    Jurny Launches New Crowdfunding Round to Fuel its Next Generation AI


    Jurny, an AI-powered property management solution for automating hotel and short-term rental operations, announced the launch of a new crowdfunding campaign on StartEngine. This move opens the doors to private individuals and customers to invest alongside top-tier venture capitalists in the booming AI sector and offers an early-stage entry point into Jurny's rapidly growing venture.

    Following a successful fundraising round last year, where Jurny secured $3 million from nearly 1,000 individual investors, the company is launching its next round as the investment market shows heightened interest in AI startups, but private investment opportunities are limited.

    “The decision to embark on another crowdfunding round was driven by the enthusiastic response from our community and our commitment to broadening participation,” said Luca Zambello, Founder and CEO of Jurny. “In a market hungry for AI companies, private investment avenues are limited. By reintroducing public investment opportunities, we not only accelerate Jurny's growth but also offer more individuals the chance to participate in the AI revolution that is reshaping industries worldwide.”

    Jurny is making significant strides in integrating AI into the operational fabric of the hospitality industry, helping short-term rental hosts and hotel property managers automate functions such as reservations, customer service, reputation management, in addition to a variety of other operational automations. In 2023, Jurny grew its customer base fivefold and processed over $35 million in bookings.

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