Fornova, the global provider of distribution and business intelligence solutions for the hospitality sector, has announced a major design partnership with A/O PropTech (A/O), a leading European proptech investor, to collaborate on its Hotels BI solution.
The agreement was part of a recent $7 million funding round, led by A/O, which also saw Fornova’s main investors, DTCP, JAL Ventures, and Forestay Capital, continue to back the technology firm.
As part of the deal, A/O will roll-out Fornova’s Hotels BI platform into its strategic hotel portfolio of around 150 hotels across Europe. The agreement will provide valuable insight into how hotels use and benefit from the tool as well as informing future enhancements of the performance and guest intelligence solution. A/O will benefit from the platform by receiving real-time, segmented data across its hotel portfolio rather than historic reports.
Gregory Dewerpe, Founder of A/O PropTech, who will also join Fornova’s board, said: “We back fearless entrepreneurs with the ambition and the vision to reshape the future of real estate and its wider ecosystem. With Fornova, we are excited to push further disruption in the hospitality sector, where we can bring significant strategic value. Transforming how hotels manage their revenue, performance, and guest data, adding transparency, and digitalisation in an ever-changing industry where OTAs, third party booking platforms/agents) are pushing hotel operators and owners to improve their methods, systems, and agility in order to transition to Hospitality 3.0.
“We’re excited to support Fornova’s vision and potential and look forward to partnering with them both as an investor and a customer. Fornova has already demonstrated an impressive track record of working with some of the world’s largest brands, some of which are part of our strategic portfolio.”
Dori Stein, CEO of Fornova, added: “This will be a partnership in the true sense of the word. For us, this agreement means much more than additional funding, it us about partnering with a company that shares our vision and gives us direct access to over 150 properties - from independent hotels to hotels which are part of the largest chains in the world - as design partners. Having the opportunity to collaborate openly with the A/O hotel platform will provide us with invaluable insight and understanding and ensure we further develop Hotels BI to be truly world class.”
Fornova acquired Hotels BI in March this year. The platform maximises hotel performance by collating data from multiple sources into one place. Revenue generating teams have a single source of real-time insights from which to quickly identify actions. The tool also includes in-depth guest intelligence ensuring that sales, marketing, and other activity are highly targeted and personalised.
Joshua Levinberg, Co-Founder of JAL Venutures and Chairman of Fornova, said, “A/O PropTech is an ideal strategic partner for Fornova and the board and I look forward to working with Gregory and his team.”
Fornova already works with some of the biggest names in the hotel industry and its software is currently used by thousands of hotels globally. Established in 2010, the company’s growing team currently has 150 talented people across offices in London, New York, Amsterdam, Israel, Belarus and Ukraine.