SiteMinder secures $5.1M investment package, plots global spread

May 8, 2012 By 2 Comments

Australia-based hotel distribution switch SiteMinder is targeting international expansion with the proceeds of a AUS $5 million (US$5.1 million) investment round.

Backing SiteMinder in the round is Bailador Investment Management. The investment was coordinated by Growth Equity Partners, also based in Australia.

SiteMinder says the capital will be used to spearhead its plans to grow the business in Europe, the Americas and elsewhere in Asia.

The company currently has around 6,000 hotels in 90 countries signed up to service, a distribution platform and booking engine software.

It claims to be generating more than $2 billion in reservation revenue for clients every year.

Although the company already has an office in the UK, managing director Mike Ford says the investment will allow to accelerate its position in Europe by speeding up its product development and expand its sales team.

Bailador directors David Kirk and Paul Wilson will be joining the board at six-year-old SiteMinder.

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Kevin May About Kevin May

Kevin May is editor of Tnooz. He joined as a co-founder in August 2009 after spending nearly four years as editor of UK-based business publication Travolution.

Passionate about the business of travel and the internet, Kevin played a major role in establishing Travolution in print, online, events and with an annual awards programme, as well as becoming a regular speaker and moderator at industry events.

Prior to Travolution, Kevin was web editor at Media Week (UK) and also worked in regional newspapers for two years at the Essex Enquirer. He started his career in journalism at the Police Gazette at New Scotland Yard in London.

Comments

  1. hotelmarketing@facebook.com says:
    May 8, 2012 at 6:35 am

    Congrats to Mike and the team! It will be exciting to see what they have in store in regards to product development.

    Reply
  2. Rod says:
    May 8, 2012 at 8:43 am

    Nice blog post. Enjoyed the read.

    Reply

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