In a significant move within the cloud-based property management sector, Melbourne's Advent Partners has recently agreed terms to invest in RMS Cloud, a leading provider of software services for the hospitality industry, according to an article published in the Street Talk section of The Australian Financial Review. This marks Advent Partners' second acquisition of the year, solidifying its position as a key player in the space.
RMS Cloud, founded nearly 40 years ago by Peter Buttigieg, has established itself as a formidable force in the industry, servicing over 6000 properties across 70 countries. This strategic investment by Advent Partners positions the firm as a significant stakeholder in RMS Cloud's future.
The investment is seen as a testament to RMS Cloud's success and its potential for further growth. Todd Sabo, founder and President of Park Vendor Review and former President of RMS North America, reflected on the company's journey, stating, "I've witnessed firsthand the dedication and innovation that has propelled RMS to where it stands today. With Advent Partners onboard, RMS is poised to accelerate the growth trajectory and solidify their position as a leader in cloud-based property management solutions."
RMS Cloud's software supports a variety of functions critical to the hospitality industry, including reservations, check-ins, marketing campaigns, and channel management across major agents like Expedia and Booking.com. Its backend capabilities also encompass trust accounting, yield management, and reporting, making it a comprehensive tool for property management.
Advent Partners' investment reflects a belief in RMS Cloud's potential to scale globally and enhance its functionalities further. Brad Lynch of Advent told Street Talk that "RMS is an impressive Australian technology success story, and we are excited to support RMS in driving continued international expansion. Our investment reflects our dedication to nurturing innovative businesses like RMS."
RMS Cloud is celebrated as a global leader in the hospitality technology sector, known for its mature software solutions that cater to both single and multi-property enterprise clients. Its robust technology platform and extensive experience position it to meet the diverse needs of businesses worldwide. "RMS' global customer presence, 40 years of experience, coupled with Advent's support, ensures that RMS will continue to drive value for their clients," Sabo added, emphasizing the combined strength of RMS Cloud and Advent Partners in the evolving landscape of hospitality technology.
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