UK / Spain: Integrated software, payment and technology solutions provider, Planet, has announced that it has reached an agreement to buy management software and services provider, Avantio, thereby entering the vacation rental sector.
With 2,500 employees and operations in 250 countries, Planet has acquired 100 per cent of Avantio, however the latter will maintain its independence, brand and current structure moving forward. Manuel Giner will continue in his role as CEO of Avantio, with the entire management team remaining in place.
Avantio will be managed as an innovation unit, completely maintained within the Planet structure, to accelerate innovation in new capabilities. It will be supported by an investment partner that will enable Avantio to evolve its technology, develop new products and expand the company.
The move marks the latest stage of Planet’s high growth strategy that combines software and payments to create connected commerce solutions, as well as its first venture into the vacation rental space. The company already provides integrated software, payment and technology solutions for its customers in the hospitality and retail sectors and worldwide, via a network of global financial services partners.
In March, Planet combined with Proximis, Datatrans, protel Hotelsoftware and Hoist Group to create a connected, commerce technology offering across hotels and vacation rentals that delivers a more consistent, convenient and rich, personalised experience for guests.
Having received investment from majority owners Advent International and Eurazeo shortly before that, Planet believes it can capitalise on a sector that is expected to reach a market volume of $107.7 billion by 2026, according to Statista.
Planet CEO Brent Warrington said: “Vacation rentals is a high growth market with a growing customer base. With that, the hospitality sector is seeing ever higher consumer expectations, where digital platforms and tools are driving rapid change.
“We’re creating an all-in-one connected commerce solution for property managers, which combines software, payments, and technology to deliver a consistent, convenient, and richer personalised experience. Planet and Avantio will help property managers take full advantage of the surge in demand from consumers, saving them time and driving more revenue, while ensuring their customers receive the best guest experience,” he added.
Launched in 2001 with the goal to simplify and digitise the manual booking process for property managers, Avantio has scaled rapidly since 2013 and now provides advanced, extensive offerings, including a property management system, channel manager, customised websites and direct booking tools.
In a bid to help property managers, Avantio’s technology automates time-consuming tasks and boosts the guest experience, saving time and increasing profitability in the process. Its channel manager provides connectivity and distribution to more than 30 specialised portals worldwide, including Airbnb, Booking.com and Vrbo, while its website builder also includes value-added services for property managers.
Through the partnership, Avantio’s 900+ global customers will be able to benefit from new services and capabilities that deliver an experience that is carefully crafted for property managers in the vacation rental market.
Avantio CEO Manuel Giner said: “The vacation rental value chain has significantly evolved over the past 20 years and as such, we are delighted to be joining forces with Planet as we share the same vision for growth. Our hybrid approach to our technology has always kept us ahead of the competition and we are confident that joining forces with Planet will allow us to continue to grow and innovate.
“Working together, we will enhance not only Avantio’s value proposition but provide a better offering for property managers and the customers they serve,” he added.