Business travel hotel solutions technology provider HRS has merged with the Lido Group, a provider of automated hotel and hospitality technology in Australia and New Zealand.
The merged entity will take the HRS name and follows the culmination of a successful partnership that started with a minority investment in 2016.
Lido Group CEO Steve Mackenzie said HRS is investing considerably in its worldwide payment platforms “giving this merger immense benefits for corporate programs”.
“Three years is a long time in business and plenty of relationships don’t survive that long, but the bond between our companies has only grown stronger,” he said. “It’s fair to say that we are precisely where we wanted to be when we set out our plans three years ago.”
The Lido Group facilitates hotel agreements and bookings between corporations, government agencies, and more than 8500 hotels in its network.
“Steve and the team have built a tremendous business here in Australia and New Zealand,” said Ana Pedersen, managing director of HRS Australia/New Zealand.
“Their focus on driving transparency and savings for clients – from sourcing on through to payment – mirrors HRS’ approach all around the world. And with business travel projected to be on the rise in Australia – GBTA projects growth averaging 4 per cent annually for the next four years – the time is right for HRS to build on the initial investment we made in 2016.”
Lido’s clients will continue to have the same personal contacts, as the team settles into its new Sydney office. Mackenzie will retire from Lido upon completion of merger-related activities.
“HRS will begin integrating Lido’s unique payment services into its overall technology stack, helping spur the seamless, secure flow of data to and from systems across continents,” said Pedersen.
“HRS will continue to invest in Lido’s technologies that work so well for corporates and hoteliers today. This merger will help drive enhanced results for Lido and HRS clients – from hotel negotiations to booking to payment – at a time when lodging costs in Australia are on the rise.”