05 Oct Private Equity Wire – PE-backed Vacation Innovations acquires Holiday Systems International
VI Adds Vacation Innovations (VI), a provider of travel-related products, software and services, has acquired Holiday Systems International (HSI), an established travel technology solutions provider and membership platform with a 27-year history of innovation in the travel industry.
HSI provides travel discounts at below-OTA rates and custom software solutions that drive a range of private-client travel, rewards and exclusive loyalty programs for a membership base of nearly 400,000 travellers and multiple major global corporate partners.
HSI was founded in 1993 by Craig Morganson and has earned its reputation as a leading developer of award-winning, travel-related technology and membership-based discount programs, producing some of the most sophisticated software and user interfaces in the travel industry for enterprise and direct-to-consumer use, including loyalty systems, booking engines, membership systems, employee benefit programs, travel agency booking platforms, corporate travel systems, travel gift cards and more.
“I’m incredibly proud of all HSI has accomplished but also realise the brand is capable of much more with the right partner,” says Morganson. “I have been presented with numerous opportunities over the years, but Vacation Innovations is the right company at the right time. Their expertise in sales and marketing, diverse suite of products and services, and commitment to adding value across its brands make this the right fit. I’m confident that Vacation Innovations will grow HSI with passion.”
The Company’s acquisition of HSI is expected to continue the brand’s forward momentum, further expanding Vacation Innovations’ product offerings and market share by adding 12 brands to the VI portfolio, along with an impressive suite of established travel products and new products in development. To help fuel this growth, Vacation Innovations has already increased the HSI workforce by nearly 20 percent since acquiring the brand in early July and is continuing to hire for new roles.
“We’re thrilled to add HSI to our family of brands,” says Chad Newbold, CEO of Vacation Innovations. “Our goal is to expand upon their previous success by refining existing products and bringing new services and features to market. HSI has a history of developing best-in-class software for the travel industry that’s a step above the competition, and we are prepared and excited to use our resources and scale to maximize the value of the HSI platform and accelerate our collective growth.”
This acquisition will further increase VI’s service of the timeshare market, as well as the broader travel market. HSI’s wide range of products and services will help Vacation Innovations to serve developers more effectively by offering lead generation and customisable technology solutions, while also driving additional tours. Combining HSI’s one-click checkout with the significant traffic—nearly 5 million visits annually—generated across Vacation Innovations’ strategic web presence will help immediately position the Company as a leader in resort rental.
Bryan Rand, President of Vacation Innovations, says: “HSI is a critical addition to the Vacation Innovations family of brands. This acquisition helps position us to deliver even more value to consumers and our developer and resort partners. We are actively hiring additional talent to add the depth we need to deliver exceptional new sroducts, are hard at work adding new features to HSI’s existing systems and programs, and will have several exciting announcements this fall as we roll out these enhancements. Working with our investment partner, Tritium Partners, we are aggressively evaluating additional M&A and joint venture opportunities that will allow VI to leverage its leadership position in the secondary vacation ownership market across the broader travel market.”