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SiteMinder Buys Hotel Tech Firm GuestJoy and Reports a Revenue Recovery

6 months ago

SiteMinder, a hotel commerce services company, said on Tuesday it had acquired GuestJoy, a provider of tools to help hotels communicate digitally with travelers. The Sydney-based SiteMinder also reported its latest financial performance, showing that its revenue is recovering though it continues to suffer net losses.

The companies didn’t disclose the transaction details.

“GuestJoy’s capability to automate and personalize guest communications will allow SiteMinder to offer a fully integrated user experience for our hoteliers,” said SiteMinder CEO Sankar Narayan.

GuestJoy offers a mobile app that lets hoteliers use chatbots to streamline some communications with guests before, during, and after stays.

SiteMinder went public last November in Australia. As of Tuesday, it had a market capitalization of about $703 million ($1 billion Australian). Its flagship service is channel management, but the company also offers products and services for distribution, taking direct reservations, and business intelligence.

For the year ended June 30, SiteMinder suffered a net loss of about $76 million ($110 Australian) on revenue of $80 million ($116 million Australian). It now has 34,700 customers, which represents growth over the pre-pandemic period.


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