Plusgrade Acquires Oaky to Enhance Hospitality Upselling Capabilities

What's Happening?

Plusgrade, a global leader in ancillary revenue solutions, has announced the acquisition of Oaky, an award-winning upselling platform recognized for its excellence in hospitality upselling. This strategic move aims to combine the strengths of both companies to create a unified upsell platform that spans the entire traveler journey, from pre-arrival offers to on-property upgrades. The acquisition is expected to enhance Plusgrade's ability to deliver meaningful guest experiences and unlock new revenue opportunities for hotel partners. Oaky has been awarded as the Best Upselling Software for five consecutive years, and its integration into Plusgrade's operations is anticipated to set a new standard in the hospitality industry. Erik Tengen, Co-founder and CEO of Oaky, will assume the role of President, Hospitality Upsell at Plusgrade, bringing his expertise to the newly formed entity.

Why It's Important?

The acquisition of Oaky by Plusgrade is significant for the hospitality industry as it promises to enhance the upselling capabilities of hotels worldwide. By combining the best features of both platforms, Plusgrade aims to offer a more comprehensive solution that can drive innovation and increase revenue for hotel partners. This move is expected to benefit over 2,500 hotel and resort properties that rely on Plusgrade's ancillary revenue solutions. The integration of Oaky's award-winning upselling software into Plusgrade's portfolio could lead to improved guest experiences and increased profitability for hotels. As the global ancillary revenue powerhouse, Plusgrade's expansion through this acquisition underscores its commitment to fueling innovation and creating billions in new revenue opportunities for its partners.

What's Next?

Following the acquisition, Plusgrade plans to accelerate its momentum as a leader in ancillary revenue solutions by enhancing its offerings and expanding its network of hotel and resort partners. The integration of Oaky's platform is expected to bring new levels of innovation and value to the hospitality industry. Erik Tengen's appointment as President, Hospitality Upsell at Plusgrade indicates a clear vision for growth and development in this sector. Stakeholders in the hospitality industry, including hotel owners and operators, can anticipate improved upselling strategies and increased revenue streams as a result of this acquisition. Plusgrade's continued focus on innovation and expansion may lead to further strategic partnerships and acquisitions in the future.

Beyond the Headlines

The acquisition of Oaky by Plusgrade highlights the growing importance of ancillary revenue solutions in the hospitality industry. As hotels seek to enhance guest experiences and maximize revenue, the integration of advanced upselling platforms becomes crucial. This development also reflects a broader trend towards consolidation in the industry, where companies are joining forces to leverage their strengths and offer more comprehensive solutions. The collaboration between Plusgrade and Oaky could set a precedent for future mergers and acquisitions in the hospitality sector, as businesses strive to stay competitive and meet evolving consumer demands.