Planet acquires Avantio to enter vacation rental business

UK/Spain: Integrated software, payment solutions and technology provider, Planet, has announced that it has reached an agreement to buy management software and services provider, Avantio, thus entering the rental business seasonal.

With 2,500 employees and operations in 250 countries, Planet has acquired 100% of Avantio, but Avantio will retain its independence, brand and current structure going forward. Manuel Giner will continue in his role as CEO of Avantio, with the entire management team remaining in place.

Avantio will be managed as an innovation unit, fully maintained within the Planet structure, to accelerate innovation in new capabilities. It will be backed by an investment partner that will allow Avantio to evolve its technology, develop new products and grow the business.

The move marks the latest step in Planet’s strong growth strategy that combines software and payments to create connected commerce solutions, as well as its first foray into the vacation rental space. The company already provides integrated software, payment and technology solutions to customers in the hospitality and retail industries and around the world through a network of global financial services partners.

In March, Planet partnered with Proximis, Datatrans, protel Hotelsoftware and Hoist Group to create a connected commerce technology offering in hotels and vacation rentals that provides a more consistent, convenient and rich personalized experience for guests.

Having received investments from majority shareholders Advent International and Eurazeo shortly before, Planet believes it can capitalize on an industry that is expected to reach a market volume of $107.7 billion by 2026, according to Statista.

Planet CEO Brent Warrington said, “Vacation rental is a high growth market with a growing customer base. With this, the hospitality sector is experiencing increasingly high consumer expectations, where digital platforms and tools are driving rapid change.

“We are creating an all-in-one connected commerce solution for property managers that combines software, payments and technology to deliver a consistent, convenient and richer personalized experience. Planet and Avantio will help property managers take full advantage of increased consumer demand, saving them time and generating more revenue, while ensuring their clients have the best customer experience,” he added. .

Launched in 2001 with the aim of simplifying and digitizing the manual booking process for property managers, Avantio has evolved rapidly since 2013 and now offers advanced and comprehensive offerings including a property management system, channel manager, websites Personalized web and direct booking tools.

Aiming to help property managers, Avantio’s technology automates time-consuming tasks and improves the customer experience, saving time and increasing the profitability of the process. Its channel manager provides connectivity and distribution to more than 30 specialized portals around the world, including Airbnb, and Vrbo, while its website builder also includes value-added services for property managers.

Through this partnership, Avantio’s more than 900 global customers will be able to benefit from new services and capabilities that provide a carefully designed experience for property managers in the vacation rental market.

Manuel Giner, CEO of Avantio, said: “The vacation rental value chain has evolved significantly over the past 20 years and as such, we are delighted to partner with Planet as we share the same vision of the 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 not only improve Avantio’s value proposition, but provide a better offering to property managers and the clients they serve,” he added.