Meetings, events and travel technology specialist Lanyon acquired group reservation technology provider Passkey. The acquisition, for an undisclosed amount, means that Lanyon now offers a comprehensive suite of cloud-based software for meetings, events and travel, as well as what it claims is the only unified group reservation and corporate transient technology platform for hotels.
“This acquisition propels us several steps forward in providing a unified technology platform for managing all aspects of meetings and events, while enabling hotels to drive more revenue from corporate travel, and now group bookings,” said Lanyon CEO David Bonnette. “A range of industry research indicates that approximately $100 billion per year in hotel revenue is associated with group business and room blocks. Much of this business is managed via manual tasks so there is a clear need for technology that automates these processes.”
In related news, Lanyon appoints John Pulling as its chief technology officer. Prior to his role as SVP of products at BigMachines, Pulling served as VP of product management at Infor.