Agilysys has entered into a definitive agreement to acquire ResortSuite, a property-management system provider focused on the multi-amenity and resort market. This acquisition creates the opportunity to bring next generation Software as a Solution options to ResortSuite customers. This combination will enable revenue synergies and integrated hotel property management and contactless capabilities to the global hospitality industry.
The transaction is expected to close the beginning of January 2022 for approximately $25 million in an all-cash deal subject to customary closing conditions. Further details of the transaction will be discussed during the upcoming Agilysys fiscal 2022 third quarter earnings call in January.
”Only a handful of technology providers have the experience and expertise to offer robust, comprehensive and end-to-end integrated property-management solutions which can help run complex resort environments and enable enjoyable guest experiences,” said Ramesh Srinivasan, President and CEO of Agilysys. “This acquisition combines two such providers, creating the most compelling hospitality technology unit serving the resort market. Frank Pitsikalis and his talented team have built a company with deep understanding of hospitality and a long history of providing world class service to some of the most well-known resorts and spas across several regions, including the U.S., U.K. and Canada. Thanks to our successful recent product modernization efforts, ResortSuite customers will enjoy numerous modern technology options including migrating to the cloud.”
According to Frank Pitsikalis, ResortSuite Founder and CEO, the two companies share a commitment to the hospitality market, several shared customers, integrated software solutions, a passion for world-class customer service and a strong desire for continued innovation that constantly improves and enriches guest experience.
“We are excited to join and contribute to the new chapter of modern technology driven growth of Agilysys 2.0 and bring an expanded product base and SaaS options to our longstanding customers,” he said. “Both ResortSuite and Agilysys customers now have access to next-generation cloud-native technology-based products and the opportunity to offer a fully integrated contactless solution for their guests while empowering all departments through a unified common profile across the entire resort. We share a common work ethic and culture with Agilysys. Together we have a solid growth path ahead of us.”
