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Planet, a global technology leader providing integrated software and payment services, is extending its footprint in the hospitality industry with the acquisition of Avantio, the leading all-in-one vacation rental management software and services company.
With the thriving vacation rental properties market expected to reach a market volume of $107.7bn by 2026, the acquisition strengthens Planet’s presence in the hospitality sector with a connected commerce platform that can serve both hotels and vacation rentals.
Launched in 2001 with the goal to simplify and digitise the fastidious and manual booking process of a property manager, Avantio started to scale rapidly from 2013 onwards as the short-term rental market was maturing and the need for software was increasing.
Today, Avantio has one of the most complete and advanced offerings in the market that includes a Property Management System, Channel Manager, customised websites and direct booking tools.
For property managers, Avantio helps them to save time and increase profitability. Avantio’s technology automates time consuming tasks for property managers and boosts the guest experience.
The Avantio Channel Manager provides connectivity and distribution to the most popular booking portals, including Airbnb, booking.com and Vrbo but also with more than 30 specialised portals worldwide.
Avantio also provides value-added services for property managers through its website builder. It provides a seamless experience for guests globally, with a multilingual system that improves the customer experience by communicating with guests easily in their own language.
Avantio’s 900+ global customers will benefit from new services and capabilities that deliver a unique experience, perfectly crafted for property managers in the vacation rental market. For Avantio, this partnership sees it secure an investment partner that will help develop technology, software and payment services that achieve a new, unique customer experience.
Manuel Giner will continue as the CEO of Avantio, with the entire management team remaining in place. Avantio will be managed as an innovation unit, completely maintained within the Planet structure, to accelerate innovation in new capabilities.
In March 2022, following investment from majority owners Advent International (‘Advent’) and Eurazeo, Planet combined with Proximis, Datatrans, protel Hotelsoftware and Hoist Group, to create a unique vertical connected commerce technology offering that delivers the hospitality sector a consistent, convenient, and richer personalised experience for guests.
Vacation rentals is a high growth market with a growing customer base. With that, the hospitality sector is seeing ever higher consumer expectations, where digital platforms and tools are driving rapid change.
“We’re creating an all-in-one connected commerce solution for property managers, which combines software, payments, and technology to deliver a consistent, convenient, and richer personalised experience. Planet and Avantio will help property managers take full advantage of the surge in demand from consumers, saving them time and driving more revenue, while ensuring their customers receive the best guest experience.” Brent Warrington, Chief Executive Offer, Planet
“The vacation rental value chain has significantly evolved over the past 20 years and as such, we are delighted to be joining forces with Planet as we share the same vision for growth. Our hybrid approach to our technology has always kept us ahead of the competition and we are confident that joining forces with Planet will allow us to continue to grow and innovate. Working together, we will enhance not only Avantio’s value proposition but provide a better offering for property managers and the customers they serve.” Manuel Giner, Chief Executive Offer, Avantio