Strategic partnership aims to enhance hospitality technology and accelerate global expansion
Duetto, a revenue management software provider for the hospitality industry, has been acquired by GrowthCurve Capital. The transaction, involving the purchase of Duetto from affiliates of Warburg Pincus and other shareholders, marks a milestone for both companies. The financial details of the acquisition have not been disclosed.
Duetto is known for its solutions that streamline hotel operations and optimise revenue. Its suite of applications, including GameChanger for pricing, ScoreBoard for reporting, and BlockBuster for business optimisation, are used by over 6,000 hotel and casino resort properties in more than 60 countries. Recently, Duetto introduced OpenSpace, a revenue management solution tailored for meeting and event spaces. The company has also earned it the top spot in the HotelTechAwards for three consecutive years.
GrowthCurve Capital, a private equity firm specialising in data, analytics, and machine learning, plans to leverage its expertise to further drive Duetto’s AI strategy. This includes the development of new AI-driven products, the launch of new business lines, and expansion into new markets.
David Woolenberg, CEO of Duetto, expressed enthusiasm about the acquisition, stating, “We are excited to partner with GrowthCurve whose expertise in machine learning and AI, coupled with their experience in high-growth businesses, aligns perfectly with our vision. This acquisition will boost our investments in innovative tech, enhance our capabilities to support our customers, and solidify our leadership in hotel revenue management.”
Matthew Popper, Head of Technology and Information Services Investing at GrowthCurve, highlighted Duetto’s market position, saying, “Duetto is a leader in the fast-growing revenue management software market, with a differentiated solution that helps clients harmonize data and manage decision-making at scale. We look forward to partnering with David and the rest of the management team to accelerate Duetto’s growth, including applying GrowthCurve’s functional capabilities in data science and AI to further enhance the solution’s value proposition for clients.”
Sim Allan, Vice President at GrowthCurve, added, “Duetto is uniquely positioned to accelerate the adoption of sophisticated analytics and AI in the hospitality sector, enabling clients to unlock the value of their data for all stakeholders, including enhancing guest experiences.”
Warburg Pincus Managing Directors Ash Somani and Parag Gupta commented on their partnership with Duetto, “It has been a privilege and a pleasure to partner with Duetto these past seven years. Duetto’s relentless focus on customer satisfaction has been key to its success. Under David Woolenberg’s leadership, Duetto has built an incredibly talented team that we are confident will continue to thrive in its next phase of growth.”
Advisors for the transaction included Jefferies LLC as lead financial advisor, William Blair as an advisor, and Orrick, Herrington & Sutcliffe LLP as legal counsel for Duetto. Houlihan Lokey served as exclusive financial advisor and Davis Polk & Wardwell as legal counsel for GrowthCurve.
