ATLANTA – IBS Software, a leading SaaS solutions provider to the travel industry globally, has acquired hotel and travel technology provider Above Property Services (APS). The $90-million transaction will further solidify IBS Software’s position in the hospitality market and will enable the company to provide the only unified platform in the hospitality industry for seamlessly managing the entire customer journey from booking to fulfillment for the global hotel chain, resort and gaming markets.
The move will significantly expand the company’s offering with the addition of cutting-edge CRS (Central Reservation System), PMS (Property Management System) and RMS (Revenue Management System) solutions. With this acquisition, IBS Software adds Call Centre and Demand-side (stored and third-party inventory) solutions to its already established booking engine and distribution platform used by more than 36,000 hotels worldwide, including many of the world’s largest and best-known hotels and resorts.
“There is an unmet need in the hospitality industry to simplify how rooms and other services are sold,” says Peter Krebs, head of Travel & Hospitality Solutions at IBS Software. “Too many businesses are being held back by legacy technology that prevents them from living up to their potential. It’s vital they have the tools they need to be effective in a rapidly changing marketplace. We were blown away by the capabilities of the ground-breaking APS platform and the value it delivers to travel businesses, providing them with the power to simplify their tech stack to instantly create new services and offers. We’re very excited to bring Aaron Shepherd and his entire team onboard, and with this IBS Software and APS will be uniquely placed to offer the only unified platform for the global hospitality chain and enterprise market. We couldn’t be more excited about what we can achieve together.”
According to a recent h2c Global Hospitality Distribution Study, the CRS is the leading distribution system for 89 per cent of large hotel chains and 60 per cent of medium-sized hotel chains, with 20 per cent of hotel organizations planning to replace their CRS within three years.