Private Equity Takes Control of Cendyn in a Bet on Hotel Tech
Skift Take
Many hoteliers will be watching what Cendyn's new president, Tim Sullivan, does to grow his company's software suite, which offers tools for automated marketing, business intelligence, and group sales management. Can it fend off competitors?
Accel-KKR, a technology-focused private equity firm based in Silicon Valley, said on Tuesday it had upped its investment and become a majority owner of Cendyn, a Boca Raton, Florida-based tech company.
The companies didn't disclose the terms of the deal. In 2016 Accel-KKR said it took a minority stake in the privately held vendor, which helps hotels manage group sales as well as automate their digital marketing.
Cendyn makes cloud-based software that focuses on streamlining the cost for hoteliers and other travel companies to market and provide services, especially for group sales. More than 30,000 clients, such as Loews Hotels, The Standard hotels, and Rosewood Hotels, use its services, which include customer relationship management software.
For example, a front desk clerk checking in a leisure guest could click to see details pulled by Cendyn from multiple third-party systems to highlight a few things the clerk may want to talk about with the guest, such as welcoming the guest back if the person has pr
