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RealPage
Enters Global Vacation Rental Market
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Acquires
Bookt, Provider of InstaManager Vacation Rental Solutions
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Carrollton,
TX – March 2014 / Newsmaker Alert / RealPage,
Inc. (NASDAQ:RP), a leading provider of on-demand property management
software, announces it has acquired the assets of Bookt LLC, a global provider
of the popular vacation rental booking engine InstaManager®.
InstaManager helps professional vacation rental managers increase both
the number of properties managed and the days per year utilized, resulting
in revenue growth without adding staff. InstaManager offers marketing websites,
online pricing and availability, online booking, automated reservations,
payment processing and insurance sales. RealPage plans to enhance InstaManager’s
current features and deliver more value by adding additional capabilities,
including screening, contact center and more robust accounting services.
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“We
are eager to take the knowledge we’ve gained through our single-family
solution and apply it to the vacation rental industry,” said Steve Winn,
Chairman and CEO of RealPage, Inc. “We believe there are approximately
6 million vacation rental units in the world—2 million in North America,
2 million in Europe and much of the rest in rapidly growing emerging markets
like Brazil and Southeast Asia. Based on InstaManager data, professionally
managed vacation rentals typically lease up to 16 times per year compared
to one lease for a long-term single family rental, thus increasing the
potential revenue per unit (RPU) RealPage generates from its products and
services offered to this industry.”
InstaManager
helps property managers be more efficient and effective—all from a desktop,
tablet or smartphone-enabled device. In addition to the full suite of property
management software, InstaManager provides a richer experience for the
consumer and enables professional managers of vacation properties to manage
more inventory with the same number of staff.
“We
are delighted to be able to exploit the larger technology and marketing
capabilities offered by RealPage,” said Rob Käll, CEO of Bookt. “We
are proud of how our product helps vacation rental managers become more
efficient, more productive and in some cases, quadruple their revenue.
We look forward to leveraging our strong momentum and believe this acquisition
will enable us to accelerate our revenue growth even more with RealPage’s
backing.”
The
Bookt team will remain at their headquarters in Hollywood, Fla.
About
InstaManager
InstaManager
is a leader in cloud-based services for the lodging industry. Its short-term
rental managers compete in 85+ countries on six continents with millions
of vacation rental nights booked via its vacation rental software. Its
cloud-based platform directly drives revenue, manages resources, and provides
business control for successful lodging companies worldwide. For more information,
please visit www.instamanager.com.
About
RealPage
Located
in Carrollton, Texas, a suburb of Dallas, RealPage is a leading provider
of comprehensive property management software solutions in the multifamily,
commercial, and single-family and vacation rental housing industries. RealPage
SaaS solutions help property owners increase efficiency, decrease expenses,
enhance the resident experience and generate more revenue. Utilizing its
innovative SaaS platform, RealPage software enables easy system integration
and streamlines online property management. Its on-demand product line
covers the full spectrum of property management solutions, including accounting,
revenue management, marketing solutions, resident services, renter insurance,
utility management, spend management and apartment market research. For
more information, call 1-87-REALPAGE or visit www.realpage.com.
RealPage,
Inc.
Investor
Relations
Rhett
Butler, 972-820-3773
or
Media
Relations
Sarah
Marshall, 972-820-3111 |