Queensland-based property management software company, HiRUM Software Solutions has been acquired by Los Angeles-based property management platform Guesty.
The move, which also sees Guesty acquire Spain-based vacation rental software company Kigo, follows a $170 million round of funding which sees the US company increase its regional market share, expand its technological capabilities and services, and further cement its leadership position in the sector.
HiRUM’s co-founders and co-CEOs, Sylvia and Philip Johnston said they were excited to join forces with Guesty and work in tandem to power the next generation of hospitality and property management technology.
“For more than two decades, we’ve helped Australia’s leading hospitality brands streamline their operational processes, maximise revenues and grow the local tourism sector,” the Johnstons said.
“We will continue to stay on in our roles with HiRUM to ensure our customers receive the best-in-class service.”
In its more than 20 years of providing hotel and accommodations managers with a complete end-to-end solution, including Trust Accounting and channel management software, HiRUM has helped small and large hospitality businesses streamline operational processes and maximize revenue.
Guesty’s APAC Managing Director Yoav Tourel said the merging of Guesty and HiRUM marks a major milestone in Australian hospitality and a new era of technological advancement.
“HiRUM’s legacy, experience and knowledgeable roots in the local market pair perfectly with Guesty’s global outlook,” he said.
“Together we will push forward the next era of property management solutions, covering the full ecosystem, from traditional hotels to vacation villas and short-term rentals.
“The timing could not be better, with Australia’s tourism market booming in full recovery mode.”
The HiRUM and Kigo acquisitions now bring thousands of customers to the Guesty family of product solutions, representing short-term rentals, vacation villas, and hospitality listings within Europe and Australia’s thriving tourism sector.
Guesty Co-Founder & CEO, Amiad Soto said Guesty, Kigo and HiRUM all view consolidation as the path forward in such a dynamic space and fragmented industry.
“The continued advancement of property management solutions, technology and service requires substantial resources and financial investment that can only be achieved by merging the industry’s best teams and regional leaders under one entity.”
In its statement announcing the acquisitions, all three companies will now work to standardize and advance the best-in-class software experience for simplifying property management and operations for property management companies (PMCs) and hospitality operators of all sizes.
This will see Guesty expand its capabilities for flexible inventory management, allowing operators to handle traditional hotel listings, aparthotels, holiday homes and short-term rentals from one dashboard.
Mike Parker-Brown is a UK-trained and qualified journalist and an award-winning travel communicator with more than 30 years experience.
Since 2002, Mike has worked as a freelance writer and PR consultant providing his services to major organisations in Australia and internationally in the tourism, aviation, hospitality, recruitment and export marketing sectors.