Gowling WLG has advised Sceptre Hospitality Resources (SHR) on its acquisition of Avvio to create a technology powerhouse for independent hotels and chains with unrivalled customer support across the world.
Gowling WLG led and project managed the transaction which required the support and input of seven firms of international lawyers across three jurisdictions.
Headquartered in Houston, Texas, SHR is a revenue generating platform that helps hotels execute their best revenue generation strategies through its tightly integrated central reservation (CRS), customer relationship management (CRM), and revenue management (RMS) systems. It supports over 1500 independent, group, casino and long-stay hotels, manages 6.6 million reservations, sells 19 million room nights and drives £2 billion revenue per year through its Windsurfer CRS.
Avvio has been a pioneer in hotel technology for 20 years. In 2017, it launched the world's first AI powered booking engine, allora.ai. Today allora.ai provides technology to over 500 hotels around the world and powers over £400m in transactions every year.
Partner and head of Gowling WLG's private equity team, Ian Piggin, led the acquisition supported by Sian Dewing and Chelsie Taylor. Alasdair McKenzie led the debt finance supported by Daniel Akinbisehin and Tamim Lasker, and Susannah Fink led on warranty and indemnity aspects of the transaction.
Commenting on the acquisition, Ian Piggin said:
"This is an exciting partnership between two international brands that will deliver innovative solutions for their customers and will create a unique offering in the hospitality sector. We're delighted to have played a role in supporting SHR through this process and are excited to see how the two businesses develop as they combine their offerings."
Rodrigo Jimenez at Sceptre Hospitality Resources added:
"The team at Gowling WLG has been fantastic in ensuring a smooth and efficient process for this transaction which will complement our existing technology solutions and elevate our growth ambitions. We were able to secure an agreement which worked for both ourselves, and Avvio, and we look forward to a successful partnership as leading technology providers for hotels."