ALICE Joins Alpine Investors' ASG Family
Alpine Investors’ ASG Acquires Hotel Operations Management Platform, ALICE, from Expedia Group
ASG, a portfolio company of Alpine Investors that buys, builds and operates vertical SaaS companies, today announced that it has acquired hotel operations management platform ALICE from Expedia Group (NASDAQ: EXPE) in a carve-out transaction.
ALICE marks the 36th acquisition for ASG and the fourth within the ASG Hospitality Technology vertical. ALICE joins Transcendent, acquired in 2019, ProfitSword, acquired in 2020, and Visual Matrix, acquired in 2021.
“We are incredibly excited that Expedia Group and ALICE are trusting us with ALICE’s next chapter of growth, especially at such an important moment in the recovery of the hospitality industry,” said Steve Reardon, CEO of ASG. “Justin, Dmitry, Alex and the entire ALICE team have built an incredible brand and product that has proven mission critical to hotel properties and essential to travelers during COVID. We believe more deeply than ever before in the future of hotel operations software and ALICE’s position of strength in the market.”
Headquartered in New York, NY, ALICE was founded in 2013 by Alex Shashou, Dmitry Koltunov, and Justin Effron. ALICE was born out of a frustrating hotel experience while Alex and Justin were traveling together through Asia. After witnessing the inefficiencies in communications within a hotel, they teamed up with Dmitry as their technical co-founder on a mission to help hotels deliver hospitality in a more aligned way. The trio put together an expert team of technologists and hotel operators with the vision of a single platform where all hotel staff can do their best work. They built ALICE to provide hotel managers with the tools they need to improve guest satisfaction and streamline operational costs. Today, ALICE is an all in one hotel operations platform that is used by over 25,000 hoteliers around the world.
“ASG’s proven track record in growing software companies coupled with their expertise in hospitality makes them the right partner for ALICE’s next chapter” said Effron. “We have felt a strong alignment of values since the beginning and are excited about what we’re going to be able to achieve together, especially as the industry continues to recover.”
ABOUT ALPINE INVESTORS
Alpine Investors is a people-driven private equity firm that is committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in middle-market companies in the software and services industries. Its PeopleFirst strategy includes a CEO-in-Residence program which allows Alpine to bring proven leadership to situations where additional or new management is needed post-transaction. Alpine is currently investing out of its $1 billion seventh fund.