Pegasus and Travel Tripper hotel technology providers are joining forces after Accel-KKR put in an undisclosed but “substantial” level of funding to support the move.
These two brands emphasize on reservation systems, distribution management, and business intelligence services for hotels, with combined roster lists involving Arora, Manotel, Bellstar, Meriton, Highgate, and Elite Hospitality Group chains.
The merged entity does not have a name as yet (and may retain one of the two existing brands), an official says, with the decision to be made in due course.
Pegasus predicted a rosier future ahead after putting a turbulent few years behind it, talking to PhocusWire last year as per the reports.
The company was once closely associated with the mechanics behind the hotel sector, having overseen one of the first CRSs and considered one of the leading providers for many years alongside the likes of Sabre and Oracle.
There was split in the original business in 2014 when the distribution switch was spun-off to eventually become DHISCO and the main business sold to Regent Equity Partners.
CEO Sean Lenahan shifted over from principal role at Regent to take over the running of the company, stated the business is growing year-on-year for the first time in five years.
Lulla was employee of Pegasus once, working as a product manager between 1999 and 2001, before leaving for a six-year stint at Amadeus. In 2008, he co-founded Travel Tripper.
“The industry has been dominated by a small number of large players, which has created a lack of choice in the market,” says David Cusimano, a principal at Accel-KKR.
“The combination of Travel Tripper and Pegasus creates a formidable challenger to the other competitors in the hospitality technology space and provides another strong option for hotels looking for innovative technology solutions combined with the great customer service both companies are known for,” he added.