HBI Staff | Mumbai 
IBS Software, a leading SaaS solutions provider for the travel industry, has announced the acquisition of hotel and travel technology provider Above Property Services (APS) at a cost of $90 million.
The acquisition will enable IBS Software to provide a unified platform to seamlessly manage the entire customer journey from booking to fulfilment for global hotel chains, resorts, and gaming markets. The move will significantly expand the company’s offering, with the addition of a 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 booking engine and distribution platform, which is used by over 36,000 hotels worldwide, according to media reports.
APS was founded in 2012 by Aaron Shepherd, an industry pioneer, who developed a number of the world’s leading hospitality PMS and CRS solutions. The company was established to completely reinvent hotel software from the ground-up, offering a revolutionary cutting-edge unified platform optimised for the hotel enterprise sector.
V. K. Mathews, Founder and Executive Chairman,IBS Software, said, “This acquisition will enhance IBS Software’s offerings in hospitality, expanding our market reach and win market share in multiple segments, including medium to large hotel chains, as well as luxury, resort and gaming customers.”
A recent h2c Global Hospitality Distribution Study revealed that 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 organisations planning to replace their CRS within three years. Through this transaction, IBS Software will substantially extend its addressable market and capitalise on the growing demand.
