November 21, 2017
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GDS and travel technology provider Amadeus has bought cloud-based hospitality event and IT specialist Newmarket International. The deal for $500 million will accelerate Amadeus’ move into the accommodation sector which it has targeted as a key area for growth.
Luis Maroto, president and chief executive of Amadeus, said: “This important and strategic acquisition will strengthen Amadeus’ position in the hotel IT sector, bringing important expertise and key customer relationships to the company that will accelerate our move into this key market.
“With many hotel chains at a crossroads in their IT strategy, and the provider landscape fragmented, Amadeus is committed to playing a key role in partnering with the hotel industry to address its challenges and this transaction will greatly accelerate that objective.”
Jeff Edwards, head of global hotels group at Amadeus, said: “We intend to leverage the Newmarket business and proven execution abilities to expand the Amadeus Hotel offering to hotels worldwide.
“The combination of Newmarket’s expertise and exceptional customer service, with Amadeus’ scale and global reach will enable us to deliver a comprehensive set of integrated high value products and services to the hotel industry.”
Newmarket, which serves around 22,000 unique properties in 154 countries, operates in the group and event management segment of the hotel industry, which is estimated to account for 30-40% of a full-service hotel’s revenues.
Get the full story at Travolution and Amadeus
Read also "Airlines are not enough: Amadeus makes $500M acquisition to dominate hotel IT too" at VentureBeat
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