FOR IMMEDIATE RELEASE:
Contact: Thomas L. Kemp
Chairman & CEO
+1 201.902.2070 | email@example.com
Contact: Trevor Crist
CEO, Inntopia, Inc.
+1 802.793.0014 | firstname.lastname@example.org
Inntopia, a subsidiary of Northstar Travel Group, acquires DestiMetrics
DestiMetrics’ leading market intelligence will expand and enhance Inntopia’s product offering
STOWE, VERMONT, USA (January 4, 2017) – Inntopia, the SaaS e-commerce subsidiary of Northstar Travel Group, has acquired DestiMetrics, the leading supplier of lodging metrics and market intelligence to the North American mountain travel industry and warm weather U.S. destinations.
DestiMetrics, founded in 2004, provides need to know destination-wide metrics, lodging performance benchmarking and resort intelligence to properties, destination marketing organizations, attractions and municipalities of premier destination resorts. DestiMetrics’ full suite of market intelligence reports and analytics add a complementary product set to extend Inntopia’s current offering and provide both an opportunity for new clients and additional benefits for existing customers. Ralf Garrison, the founder of DestiMetrics, will continue to work with the combined Inntopia/DestiMetrics business.
Ralf Garrison commented, “We have close relationship with Trevor Crist and the Inntopia team. We see this merger powering DestiMetrics closer to data-driven marketing and predictive analytics for the destination industry, where short-term rental inventory is disrupting convention.”
“We have tremendous respect for the market leadership DestiMetrics has achieved, and for Ralf as a pioneering entrepreneur in the mountain travel industry. DestiMetrics will serve as one of the foundational pieces of our upcoming Business Intelligence offering,” said Trevor Crist, CEO of Inntopia. “Existing DestiMetrics clients will be able to automate their reporting through our API libraries, and generate on demand reports. And, DestiMetrics reporting data will allow us to add powerful predictive pricing features into the Inntopia platform.”
“The acquisition of DestiMetrics is an important investment to Northstar’s data analytics tools and a great addition to Inntopia’s marketing solutions offering,” added Tom Kemp, CEO of Northstar Travel Group, “DestiMetrics follows Inntopia’s acquisition of Ryan Solutions in October and will help better position Inntopia and its growing family of products for significant growth in the future.”
Inntopia is the leading SaaS e-commerce software platform that provides innovative solutions of reservation technology and e-commerce services to destinations, ski resorts, vacation hotels, golf courses, attraction parks, and tour operators as well as lodging, activity, event, and transportation suppliers. Inntopia is an operating subsidiary of Northstar Travel Group, the majority shareholder in Inntopia.
DestiMetrics is the leading supplier of lodging metrics and market intelligence for the North American travel and hospitality industries. DestiMetrics plans, implements and operates destination and lodging research programs that provide historical and forward-looking insights into reservation activity and travel market data. DestiMetrics is based in Denver, CO.
Northstar is the owner of well-known brands including Travel Weekly, TravelAge West, Business Travel News, Successful Meetings, Meetings & Conventions, Travel Weekly China, Incentive, M&C China, and Web in Travel. The company produces more than 50 face-to-face events in thirteen countries in retail travel, corporate travel, travel technology and the meetings industry. In addition, Northstar owns Phocuswright, the leading research, business intelligence and event producer serving the fastest growing segment of the travel industry, on-line travel distribution. Northstar is also the majority shareholder in Inntopia, the leading SaaS e-commerce software provider serving the mountain destination, activities, and specialty destination travel markets.
Based in Secaucus, NJ, the company also has offices in New York, NY; Glen Ellyn, IL; Los Angeles, CA; Winston-Salem, NC; Stowe, VT, Edwards, CO, and global offices in Singapore, Beijing, and Shanghai.
Wasserstein Partners IV acquired Northstar Travel Group in June 2016.
Wasserstein Partners IV is a mid-market buyout fund managed by WP Capital Management, the private equity investment company formerly associated with Wasserstein Perella Group and Wasserstein & Co. The firm manages capital on behalf of institutional and individual investors. Its investment activities are focused on the media and communications, consumer products and water and industrial sectors. WP Capital’s investment team has completed 27 platform acquisitions and 50 add-on acquisitions over a 23-year period. WP Capital is located in New York. For more information, visit www.wasserco.com.