Hospitality cloud platform Mews has raised $100 million in funding from Vista Credit Partners.
The new funding comes at a time when cloud adoption is accelerating across the $15.5 trillion global travel and tourism sector, Muse said in a Thursday (Sept. 26) news release. said.
The company said the funding will accelerate Muse’s growth and strengthen its mergers and acquisitions arm, which has already acquired nine services companies.
“Hospitality is a human industry at its core, and we are relentlessly focused on advancing cloud technologies that allow our staff to step away from their screens and focus on our guests,” said Muse CEO Matt Well.
“We have a huge opportunity to support the world’s most innovative hospitality brands and accelerate their digital transformation,” he added. “By investing in both our organic and inorganic growth, we are completely reimagining how hospitality is delivered.”
In addition to the company’s acquisition, Muse also noted a number of recent accomplishments, including achieving a valuation of over $1 billion and growing its North American customer base by 250% in the past 12 months.
“As a unified asset management system for hospitality brands around the world, the Mews cloud platform helps automate core operational, business and payment processes while empowering staff to deliver the best possible guest experience. ,” said Amy Matthews, managing director of Vista Credit Partners. a division of Vista Equity Partners, in a news release.
Elsewhere in the hospitality industry, PYMNTS recently wrote about the changing face of payment methods in the industry. Adopting real-time payment solutions could transform the travel/hospitality sector as consumers and employees express frustration with outdated systems.
“74% of travelers believe a digital wallet is essential to their experience, especially among high-net-worth and millennial travelers, with usage rates of 83% and 82%, respectively, and is underway,” PYMNTS wrote.
“Customers who use digital wallets spend an average of $44 per restaurant visit, which is more than the $33 spent by customers who use traditional payment methods. This trend improves the overall travel experience. reflects a wide range of consumer preferences for seamless and efficient payment solutions.
The demand for instant tip payments in the hospitality industry represents a further layer of this evolution, with nearly 82% of hospitality industry employees strongly preferring to receive tips immediately and already benefit from such a system. 85% of employees report high satisfaction.
See more: Cloud, Cloud Technology, Funding, Fundraising, Fundraising, Hospitality, Hospitality Technology, Investing, Muse, News, PYMNTS News, Travel, Vista Credit Partners, Vista Equity Partners, Latest News
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