Cloud-based property management systems provider Mews has acquired Montreal-headquartered Hotello in its first-ever Canadian acquisition.
The deal strengthens Mews’ growth strategy and supports the company's cloud-based approach to helping hoteliers simplify and automate their operations, according to a press release.
The acquisition represents further investment by Mews in North America, where markets continue “seeing strong adoption of cloud and autonomous technologies and hospitality brands looking for solutions that will serve them long into the future,” Richard Valtr, founder of Mews, said in the release.
Mews will adopt Hotello’s 500-plus customers in Canada and the United States. It also will integrate Hotello’s team.
The terms of the acquisition — handled by Mews Ventures, the company's venture and investment arm — were undisclosed. Mews has also acquired Planet Winner (2019), Base7Booking (2020), Hotel Perfect (2021), Cenium (2022) and Bizzon (2022).
The Hotello deal sits on the heels of a year of growth for the company. At the end of 2022, Mews closed a $185 million Series C financing round — bringing the Prague-headquartered company’s total funding to $225 million — led by Kinnevik and Goldman Sachs Asset Management.
In 2022, Mews’ revenue increased 174% year-over-year, and gross payment volume increased 227%, up to $2.3 billion, over the period. It counts more than 400,000 beds in operation across 3,500 customers, including Nordic Choice, Accor, The Social Hub, Les Airelles, Life House, Pandox and Generator-Freehand.
