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Fullsteam Secures Major Investment from Aquiline and ADIA to Fuel Growth in Payments Technology and Vertical Software

PRnewswire | May 26, 2023 | Read time : 04:17 min

Fullsteam Secures Major Investment from Aquiline and ADIA to

Fullsteam LLC ("Fullsteam"), a leading provider of integrated business management software and payments to customers across the Main Street economy, today announced that it has received significant new investment from founding sponsor Aquiline Capital Partners LLC ("Aquiline") and a wholly owned subsidiary of the Abu Dhabi Investment Authority ("ADIA"), along with a consortium of other investors. Aquiline will remain as the lead investor in the company and ADIA will become a significant minority investor. This infusion of capital will enable Fullsteam to enter its next phase of expansion, building upon its rapid organic growth and an impressive portfolio of seventy acquisitions to date.

Established in 2018 by CEO Michael Lawler and Aquiline, Fullsteam has been purpose-built and scaled to meaningfully transform the small to mid-sized merchant experience across multiple sectors, including specialty retail, field services, automotive, leisure, property management, association management, and other specialized markets. At the heart of its business model lies the integration of merchant payment processing and core vertical software. By seamlessly integrating payment processing products with comprehensive resources to accelerate software growth in each of its vertical solutions, Fullsteam allows its resident software entrepreneurs to continuously enhance the experience for its current base of approximately 50,000 customers.

Hamad Shahwan Aldhaheri, Executive Director of the Private Equities Department at ADIA, commented, "Fullsteam is well positioned to continue its strong growth trajectory by meeting the digitalized payments and software needs of its customers and pursuing further acquisition opportunities. We are delighted to partner with Aquiline and Fullsteam to support the business as it embarks on its next phase of growth."

Joe Pappalardo, Partner at Aquiline, said, "When we established Fullsteam with Mike and Greg Colella, our M&A leader, our goal was to address and accelerate two significant trends in vertical software: the adoption of business management across the small business economy and the convergence of this core software with merchant payment processing. Today, Fullsteam is emerging as a leading buyer and supporter of vertical software companies driving these two trends in North America. We are delighted to expand our existing relationship with ADIA through this transaction and we look forward to continuing our collaboration with Fullsteam to enhance the day-to-day experiences of its growing customer base."

Michael Lawler, CEO of Fullsteam, said: "This is an incredibly exciting day for Fullsteam and our entire team as we expand our strategy to transform the payments and software landscape across a wide range of industries. Leveraging our extensive expertise in integrated payments, growth-focused resources, and entrepreneur-centric culture, Fullsteam has a proven track record of helping business founders accelerate their companies' growth while providing exceptional customer service. With the continued support of Aquiline and ADIA, we eagerly anticipate expanding our family of vertical payments and software providers, serving the countless small and mid-sized businesses that form the backbone of our economy."

Goldman Sachs served as lead financial advisor and Raymond James served as financial advisor to Fullsteam. Willkie Farr & Gallagher LLP served as legal advisor for Aquiline and Fullsteam.

About Fullsteam Holdings LLC

Fullsteam is a leading payments and software company headquartered in Auburn, Alabama. Fullsteam provides streamlined payments infrastructure and enhanced operational support to better serve customers. Fullsteam is actively seeking further acquisitions across multiple software verticals.

About Aquiline Capital Partners LLC

Aquiline Capital Partners LLC is a private investment firm based in New York and London investing in companies across financial services and technology, healthcare and business services. The firm has $9.9 billion in assets under management as of March 31, 2023.

About the Abu Dhabi Investment Authority

Established in 1976, the Abu Dhabi Investment Authority ("ADIA") is a globally-diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation.

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SpotOn Named Preferred Technology Partner of The Texas Restaurant Association

Businesswire | July 14, 2023

SpotOn, a leading software and payments provider for restaurants and small businesses, has been named the Preferred Technology Partner of the Texas Restaurant Association (TRA), the state's leading advocate for the restaurant industry. The two organizations celebrated the partnership with a gathering at the annual Texas Restaurant Show in Houston, the annual restaurant and foodservice show and the largest of its kind in the Southwest. This collaboration between SpotOn and TRA aims to empower Texas restaurant operators with the technology needed to boost profit, streamline operations, and manage staff in a fast-paced, dynamic industry. As the restaurant industry rapidly evolves, technology has become essential for restaurants to adapt and grow. SpotOn offers a comprehensive suite of tools and services designed specifically for the unique needs of the hospitality sector. By partnering with TRA, SpotOn aims to deliver transformative solutions that will enable the nearly 55,000 restaurants of Texas to drive sustainable growth. "As a native Texan, I’m incredibly proud that The Texas Restaurant Association has recognized SpotOn as their Preferred Technology Partner," said Bryan Solar, Chief Product Officer of SpotOn, TRA Board Member, and Austin Resident. "The TRA's commitment to supporting and future-proofing the Texas restaurant industry aligns closely with SpotOn's mission to provide restaurants with the innovative technology necessary to run smarter, more delightful, and more efficient operations. SpotOn does all this while saving restaurants valuable time, money, and mindspace. Together, we will empower Texas restaurants to thrive for years to come in an increasingly competitive landscape." SpotOn's restaurant management system combines point-of-sale (POS) systems, commission-free and fee-free online ordering and reservations, labor management software, and more. SpotOn technology helps restaurants streamline daily operations, reduce overhead costs, and enables their team to focus on what matters most – providing exceptional guest experiences. In addition to its technology suite, SpotOn offers a range of customer engagement and marketing tools to help restaurants increase customer loyalty and drive repeat business. From digital loyalty programs and targeted email campaigns to online ordering and gift cards, SpotOn provides the tools and expertise to help restaurants adapt and thrive in today's digital-first world. "We are excited to partner with SpotOn as our newest Preferred Partner," said Emily Williams Knight, President and CEO of The Texas Restaurant Association. "SpotOn's commitment to innovation, exceptional customer service, and their deep understanding of the unique challenges faced by the restaurant industry made them the ideal partner. We look forward to working together to equip Texas restaurants with the tools they need to succeed." SpotOn's partnership with TRA reflects a shared mission in supporting Texas restaurants and promoting the industry's growth. Together, they aim to empower restaurants with the resources, expertise, and technology solutions necessary to overcome challenges and drive success in an ever-changing market. Trusted by restaurants and venues across the United States, SpotOn is investing in programming and activations to inspire Texas restaurant owners and operators to run their businesses on their own terms with flexible technology, actionable data, and personalized service. Together with the Texas Restaurant Association, SpotOn is paving the way for restaurant operators to leverage technology to address their greatest challenges, including workforce management, rising costs, and changing guest expectations. About SpotOn SpotOn is one of the leading software and payment companies with comprehensive, cloud-based technology for businesses of all types and sizes. Known for its rapid innovation and personalized support, SpotOn offers an end-to-end software and payment platform to streamline operations, improve the customer experience, and increase profit. From seamless and efficient point-of-sale systems to integrated management solutions built for the fast-growing enterprise, SpotOn builds technology that "works the way you work" and backs it up with a 24/7 team of experts who make sure it always does—with fairness, flexibility, and a personal touch. SpotOn has 2,000 employees, including one of the strongest product and technology teams in the combined software & payments industry About the Texas Restaurant Association Formed in 1937, the Texas Restaurant Association (TRA) serves as the advocate and indispensable resource for the foodservice industry in Texas. As a leading business association, the TRA represents the state’s $87 billion restaurant industry, which encompasses upwards of 55,000 locations and a workforce of over 1.3 million employees. Along with the Texas Restaurant Foundation, the workforce development arm of the TRA, the association proudly continues to protect, advance, and educate a growing industry as the TRA enters its 86th anniversary year.

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365 Retail Markets Launches MM6 Mini Self-Service Kiosk for Dining and Micro Market Industry Applications

PRnewswire | July 13, 2023

365 Retail Markets, the global leader in unattended retail technology, today announced a new versatile kiosk, the MM6 Mini, that balances flexibility and consumer experience with any dining cafeteria or micro market location. Until now, two extremes of kiosk technology have existed in the market for Food Service Operators (FSOs). Cheap tablet-based solutions that target smaller spaces but trade consumer experience for cost. And full-sized kiosks that best address premium, high-touch, and high traffic locations. With smaller offices becoming the norm and growth in new segments like healthcare and hotels, FSOs need a middle ground to better serve a broader range of location types and their bottom line without compromising customer satisfaction. The MM6 Mini is a compact point-of-sale, with 15.6" inch display that offers unlimited placement flexibility with wall and countertop mount options. Its size is perfectly suited for midsize locations, but its price makes it attractive to cluster with additional Minis to improve throughput in larger spaces. New in the latest MM6 line of next generation kiosks from 365, the MM6 Mini helps operators cut down service time and drive additional income through digital advertising services powered by Advana™. Part of a hardware platform that supports multichannel applications, MM6 Mini offers a thoughtful, frictionless self-checkout experience for both dining and micro market applications. The 365-user interface (UI) for dining was enhanced to offer the highly desired capabilities of nutritional insight, upsell recommendations, order ahead, and custom orders. For micro markets, the industry proven UI has easy item look-up for items without barcodes, highlights transaction detail, and efficiently guides consumers through the transaction. Operators with the two concepts adjacent can use a single kiosk for both market and café purchases to further save space and cost. "Considering the transition of business & industry (B&I) towards smaller office spaces with hybrid work models, we firmly believe that the MM6 Mini is the ideal solution for catering to workplace refreshment services in this evolving landscape," said Boris Amegadjie, Chief Product Officer for 365. For operators expanding into new markets outside of B&I, Amegadjie continued, "Equipped with a flexible size that accommodates any setting and a remarkable combination of affordability and performance, operators are poised for successful outcomes wherever they take their business." Earlier this Spring, the MM6 Mini won the coveted distinction of the People's Choice Award at the NAMA Show which confirmed early operator feedback on the technology. About 365 Retail Markets 365 Retail Markets is the global leader in unattended retail technology. Founded in 2008, 365 provides a full suite of best-in-class, self-service technologies for food service operators including end-to-end integrated SaaS software, payment processing and point of-sale hardware. Today, the company's technology solutions autonomously power food retail spaces at corporate offices, manufacturing and distribution facilities, and more, in order to provide compelling foodservice options for consumers. 365's technology solutions include a growing suite of frictionless smart-stores, micro markets, vending, catering, and dining point-of-sale options to meet the expanding needs of its customers. 365 continuously pioneers innovation in the industry with superior technology, strategic partnerships and ultimate flexibility in customization and branding.

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HotelRunner Acquires PayPad in a Strategic Move Into On-Premise Sales Operations

Newswire | September 21, 2023

Founded in 2016, PayPad is a cloud-based, smart sales system designed exclusively for restaurants, hotels, and retail stores. PayPad expanded into the global market with a client base in the United Kingdom, Spain, the United States, and Türkiye. This strategic acquisition marks a significant milestone in HotelRunner's mission to offer a comprehensive, all-in-one solution with a specific focus on the hotels' on-premise sales and payments. With its new and advanced identity, HotelRunner POS presents an effortless and effective way to run food and beverage operations, offering accommodation businesses a fresh avenue to enhance their revenue streams. Fully integrated with HotelRunner PMS, HotelRunner POS allows accommodations to manage their on-premise sales and payment operations with ease. Hoteliers can accept payments in multiple methods, analyze every aspect of their business, and take AI-driven, intelligent, and automated actions resulting in enhanced productivity and increased profitability. This development represents a momentous shift for HotelRunner as it delves into on-premise sales operations for the first time, highlighting its sales-first approach in the hospitality and travel technology landscape. In January 2023, the company closed a successful Series A round and stated that the funds would be used to continue to build a solid global presence, grow the team, and invest heavily in delivering cutting-edge technology. Standing behind its commitment, over the past year, HotelRunner has achieved remarkable product launches, including Insights, Autopilot, and Review Center, all of which have been instrumental in advancing toward its goal of providing a holistic platform powered by innovative technology. This milestone marks the third acquisition in HotelRunner's ongoing acquisition spree aimed at consolidating the industry under its roof while proudly extending its offerings to serve the diverse needs of its partners. Arden Agopyan, Founder and Managing Partner of HotelRunner, said, "Our strategic acquisition of PayPad and the birth of HotelRunner POS aren't merely about enhancing our product offerings; it's a bold leap toward our vision of building a bigger travel economy. As we welcome HotelRunner POS into our expansive ecosystem as a foundational part, we solidify our presence in the payments and sales verticals in travel and hospitality. We're proud to shape the path toward industry consolidation and usher in a transformative era, reinforcing our brand's legacy." Ali Beklen, Founder and Managing Partner of HotelRunner, added, "With PayPad seamlessly integrated into the HotelRunner's unique market-network, we're spearheading a technology revolution that forms the cornerstone of a unified digital travel ecosystem. Beyond elevating the guest experience and optimizing operational efficiency for accommodations, this strategic move underscores the power of frictionless all-in-one platforms as the key to success. This acquisition unlocks a new untapped opportunity and sets a path to delivering unrivaled value and pioneering innovation for our partners." Veysel Berk, the Founder of PayPad, also shared his thoughts on the acquisition: "HotelRunner is democratizing the use of technology for every player in the global ecosystem. As both teams share the same values, culture, and product principles, we are thrilled to join forces with HotelRunner and become part of its broad vision. PayPad, revamped as HotelRunner POS, will play a pivotal role in adding exponential value to properties worldwide, ushering in a new era of advanced sales solutions in travel and hospitality." HotelRunner POS will be gradually rolled out worldwide to offer the best experience to all accommodation businesses, starting with existing HotelRunner partners. For more information, you can visit here. About HotelRunner HotelRunner is a data-driven SaaS-enabled unified sales, operations, and distribution management platform and B2B network for accommodations, travel agencies, and payment providers. HotelRunner has thousands of accommodation and travel agency partners globally. HotelRunner is a Booking.com Premier Connectivity Partner and Best Overall Performing Partner, Expedia Preferred Connectivity Partner, Airbnb Software Partner, Agoda Innovative Supplier, Oracle, Hotelbeds, trivago, and Google Hotel Ads strategic partner.

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SpotOn Named Preferred Technology Partner of The Texas Restaurant Association

Businesswire | July 14, 2023

SpotOn, a leading software and payments provider for restaurants and small businesses, has been named the Preferred Technology Partner of the Texas Restaurant Association (TRA), the state's leading advocate for the restaurant industry. The two organizations celebrated the partnership with a gathering at the annual Texas Restaurant Show in Houston, the annual restaurant and foodservice show and the largest of its kind in the Southwest. This collaboration between SpotOn and TRA aims to empower Texas restaurant operators with the technology needed to boost profit, streamline operations, and manage staff in a fast-paced, dynamic industry. As the restaurant industry rapidly evolves, technology has become essential for restaurants to adapt and grow. SpotOn offers a comprehensive suite of tools and services designed specifically for the unique needs of the hospitality sector. By partnering with TRA, SpotOn aims to deliver transformative solutions that will enable the nearly 55,000 restaurants of Texas to drive sustainable growth. "As a native Texan, I’m incredibly proud that The Texas Restaurant Association has recognized SpotOn as their Preferred Technology Partner," said Bryan Solar, Chief Product Officer of SpotOn, TRA Board Member, and Austin Resident. "The TRA's commitment to supporting and future-proofing the Texas restaurant industry aligns closely with SpotOn's mission to provide restaurants with the innovative technology necessary to run smarter, more delightful, and more efficient operations. SpotOn does all this while saving restaurants valuable time, money, and mindspace. Together, we will empower Texas restaurants to thrive for years to come in an increasingly competitive landscape." SpotOn's restaurant management system combines point-of-sale (POS) systems, commission-free and fee-free online ordering and reservations, labor management software, and more. SpotOn technology helps restaurants streamline daily operations, reduce overhead costs, and enables their team to focus on what matters most – providing exceptional guest experiences. In addition to its technology suite, SpotOn offers a range of customer engagement and marketing tools to help restaurants increase customer loyalty and drive repeat business. From digital loyalty programs and targeted email campaigns to online ordering and gift cards, SpotOn provides the tools and expertise to help restaurants adapt and thrive in today's digital-first world. "We are excited to partner with SpotOn as our newest Preferred Partner," said Emily Williams Knight, President and CEO of The Texas Restaurant Association. "SpotOn's commitment to innovation, exceptional customer service, and their deep understanding of the unique challenges faced by the restaurant industry made them the ideal partner. We look forward to working together to equip Texas restaurants with the tools they need to succeed." SpotOn's partnership with TRA reflects a shared mission in supporting Texas restaurants and promoting the industry's growth. Together, they aim to empower restaurants with the resources, expertise, and technology solutions necessary to overcome challenges and drive success in an ever-changing market. Trusted by restaurants and venues across the United States, SpotOn is investing in programming and activations to inspire Texas restaurant owners and operators to run their businesses on their own terms with flexible technology, actionable data, and personalized service. Together with the Texas Restaurant Association, SpotOn is paving the way for restaurant operators to leverage technology to address their greatest challenges, including workforce management, rising costs, and changing guest expectations. About SpotOn SpotOn is one of the leading software and payment companies with comprehensive, cloud-based technology for businesses of all types and sizes. Known for its rapid innovation and personalized support, SpotOn offers an end-to-end software and payment platform to streamline operations, improve the customer experience, and increase profit. From seamless and efficient point-of-sale systems to integrated management solutions built for the fast-growing enterprise, SpotOn builds technology that "works the way you work" and backs it up with a 24/7 team of experts who make sure it always does—with fairness, flexibility, and a personal touch. SpotOn has 2,000 employees, including one of the strongest product and technology teams in the combined software & payments industry About the Texas Restaurant Association Formed in 1937, the Texas Restaurant Association (TRA) serves as the advocate and indispensable resource for the foodservice industry in Texas. As a leading business association, the TRA represents the state’s $87 billion restaurant industry, which encompasses upwards of 55,000 locations and a workforce of over 1.3 million employees. Along with the Texas Restaurant Foundation, the workforce development arm of the TRA, the association proudly continues to protect, advance, and educate a growing industry as the TRA enters its 86th anniversary year.

Read More

POS Hardware

365 Retail Markets Launches MM6 Mini Self-Service Kiosk for Dining and Micro Market Industry Applications

PRnewswire | July 13, 2023

365 Retail Markets, the global leader in unattended retail technology, today announced a new versatile kiosk, the MM6 Mini, that balances flexibility and consumer experience with any dining cafeteria or micro market location. Until now, two extremes of kiosk technology have existed in the market for Food Service Operators (FSOs). Cheap tablet-based solutions that target smaller spaces but trade consumer experience for cost. And full-sized kiosks that best address premium, high-touch, and high traffic locations. With smaller offices becoming the norm and growth in new segments like healthcare and hotels, FSOs need a middle ground to better serve a broader range of location types and their bottom line without compromising customer satisfaction. The MM6 Mini is a compact point-of-sale, with 15.6" inch display that offers unlimited placement flexibility with wall and countertop mount options. Its size is perfectly suited for midsize locations, but its price makes it attractive to cluster with additional Minis to improve throughput in larger spaces. New in the latest MM6 line of next generation kiosks from 365, the MM6 Mini helps operators cut down service time and drive additional income through digital advertising services powered by Advana™. Part of a hardware platform that supports multichannel applications, MM6 Mini offers a thoughtful, frictionless self-checkout experience for both dining and micro market applications. The 365-user interface (UI) for dining was enhanced to offer the highly desired capabilities of nutritional insight, upsell recommendations, order ahead, and custom orders. For micro markets, the industry proven UI has easy item look-up for items without barcodes, highlights transaction detail, and efficiently guides consumers through the transaction. Operators with the two concepts adjacent can use a single kiosk for both market and café purchases to further save space and cost. "Considering the transition of business & industry (B&I) towards smaller office spaces with hybrid work models, we firmly believe that the MM6 Mini is the ideal solution for catering to workplace refreshment services in this evolving landscape," said Boris Amegadjie, Chief Product Officer for 365. For operators expanding into new markets outside of B&I, Amegadjie continued, "Equipped with a flexible size that accommodates any setting and a remarkable combination of affordability and performance, operators are poised for successful outcomes wherever they take their business." Earlier this Spring, the MM6 Mini won the coveted distinction of the People's Choice Award at the NAMA Show which confirmed early operator feedback on the technology. About 365 Retail Markets 365 Retail Markets is the global leader in unattended retail technology. Founded in 2008, 365 provides a full suite of best-in-class, self-service technologies for food service operators including end-to-end integrated SaaS software, payment processing and point of-sale hardware. Today, the company's technology solutions autonomously power food retail spaces at corporate offices, manufacturing and distribution facilities, and more, in order to provide compelling foodservice options for consumers. 365's technology solutions include a growing suite of frictionless smart-stores, micro markets, vending, catering, and dining point-of-sale options to meet the expanding needs of its customers. 365 continuously pioneers innovation in the industry with superior technology, strategic partnerships and ultimate flexibility in customization and branding.

Read More

Restaurant POS

HotelRunner Acquires PayPad in a Strategic Move Into On-Premise Sales Operations

Newswire | September 21, 2023

Founded in 2016, PayPad is a cloud-based, smart sales system designed exclusively for restaurants, hotels, and retail stores. PayPad expanded into the global market with a client base in the United Kingdom, Spain, the United States, and Türkiye. This strategic acquisition marks a significant milestone in HotelRunner's mission to offer a comprehensive, all-in-one solution with a specific focus on the hotels' on-premise sales and payments. With its new and advanced identity, HotelRunner POS presents an effortless and effective way to run food and beverage operations, offering accommodation businesses a fresh avenue to enhance their revenue streams. Fully integrated with HotelRunner PMS, HotelRunner POS allows accommodations to manage their on-premise sales and payment operations with ease. Hoteliers can accept payments in multiple methods, analyze every aspect of their business, and take AI-driven, intelligent, and automated actions resulting in enhanced productivity and increased profitability. This development represents a momentous shift for HotelRunner as it delves into on-premise sales operations for the first time, highlighting its sales-first approach in the hospitality and travel technology landscape. In January 2023, the company closed a successful Series A round and stated that the funds would be used to continue to build a solid global presence, grow the team, and invest heavily in delivering cutting-edge technology. Standing behind its commitment, over the past year, HotelRunner has achieved remarkable product launches, including Insights, Autopilot, and Review Center, all of which have been instrumental in advancing toward its goal of providing a holistic platform powered by innovative technology. This milestone marks the third acquisition in HotelRunner's ongoing acquisition spree aimed at consolidating the industry under its roof while proudly extending its offerings to serve the diverse needs of its partners. Arden Agopyan, Founder and Managing Partner of HotelRunner, said, "Our strategic acquisition of PayPad and the birth of HotelRunner POS aren't merely about enhancing our product offerings; it's a bold leap toward our vision of building a bigger travel economy. As we welcome HotelRunner POS into our expansive ecosystem as a foundational part, we solidify our presence in the payments and sales verticals in travel and hospitality. We're proud to shape the path toward industry consolidation and usher in a transformative era, reinforcing our brand's legacy." Ali Beklen, Founder and Managing Partner of HotelRunner, added, "With PayPad seamlessly integrated into the HotelRunner's unique market-network, we're spearheading a technology revolution that forms the cornerstone of a unified digital travel ecosystem. Beyond elevating the guest experience and optimizing operational efficiency for accommodations, this strategic move underscores the power of frictionless all-in-one platforms as the key to success. This acquisition unlocks a new untapped opportunity and sets a path to delivering unrivaled value and pioneering innovation for our partners." Veysel Berk, the Founder of PayPad, also shared his thoughts on the acquisition: "HotelRunner is democratizing the use of technology for every player in the global ecosystem. As both teams share the same values, culture, and product principles, we are thrilled to join forces with HotelRunner and become part of its broad vision. PayPad, revamped as HotelRunner POS, will play a pivotal role in adding exponential value to properties worldwide, ushering in a new era of advanced sales solutions in travel and hospitality." HotelRunner POS will be gradually rolled out worldwide to offer the best experience to all accommodation businesses, starting with existing HotelRunner partners. For more information, you can visit here. About HotelRunner HotelRunner is a data-driven SaaS-enabled unified sales, operations, and distribution management platform and B2B network for accommodations, travel agencies, and payment providers. HotelRunner has thousands of accommodation and travel agency partners globally. HotelRunner is a Booking.com Premier Connectivity Partner and Best Overall Performing Partner, Expedia Preferred Connectivity Partner, Airbnb Software Partner, Agoda Innovative Supplier, Oracle, Hotelbeds, trivago, and Google Hotel Ads strategic partner.

Read More

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