In a move set to redefine hotel revenue management, Duetto, the cloud-based revenue strategy platform, has acquired HotStats, a UK-based hotel benchmarking company renowned for its comprehensive financial performance data. This acquisition aims to integrate HotStats’ detailed profit-and-loss insights into Duetto’s existing suite of tools, offering hoteliers a more holistic view of their operations.
Founded in 1997, HotStats has carved a niche in delivering in-depth profitability benchmarking and market reports, enabling hotel owners, operators, and investors to gauge performance across various departments, from rooms to food and beverage.
By incorporating this data, Duetto plans to enhance its platform’s capabilities, allowing for more nuanced pricing strategies and demand forecasting. David Woolenberg, CEO of Duetto, emphasized that this union would “reimagine what’s possible for hotel revenue and profitability.”
This acquisition follows Duetto’s purchase by GrowthCurve Capital in June 2024, a move aimed at accelerating Duetto’s advancements in artificial intelligence and machine learning within the hospitality sector. The addition of HotStats’ data is expected to further bolster Duetto’s AI-driven approach, providing clients with actionable insights to optimize both revenue and operational efficiency.
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