Plusgrade Acquires UpStay to Expand its Portfolio of Upgrade and Ancillary Revenue Solutions for the Hospitality Industry
The deal for the Israeli company, which helps hoteliers drive higher ancillary revenue through multiple revenue streams delivered to their guests, is estimated at several tens of millions of dollars
Plusgrade, the leading provider of ancillary revenue solutions for the global travel industry, is proud to announce the acquisition of UpStay, a rapidly-growing provider of upgrade and ancillary revenue solutions for the hospitality industry. UpStay serves hundreds of hotels in 17 countries by enabling hoteliers to drive higher ancillary revenue through multiple value-added revenue streams delivered to their guests.
Since its founding in 2019, UpStay has been recognized for their innovative technology, winning the 2021 People's Choice Innovation Award at the Phocuswright Travel Awards and the 2022 World's Best Hotel Tech Startup at the World Travel Tech Awards.
"The acquisition of UpStay is another step forward for our vision and mission of becoming the Global Ancillary Revenue Powerhouse," said Plusgrade CEO, Ken Harris. "We have been accelerating this mission through a series of innovations, launches and acquisitions, and have come into 2023 as a powerhouse for the global travel industry. We are thrilled to have the UpStay team join us, and look forward to tapping into their expertise and innovative technology to bring even more value to our now 200+ airline, hospitality, cruise, rail and financial services partners around the world."
"This is an exciting day for UpStay," said Tzafrir Blonder, CEO of UpStay. "After 4 years of incredible growth and success, we are thrilled to be joining forces with Plusgrade to invest further in our product offerings and enhance our ability to drive ancillary revenue for our partners through upselling additional on-property amenities and services. I look forward to continuing to lead the hospitality ancillaries vertical in the company, as we grow with Plusgrade in 2023 and beyond."
Plusgrade is continuing its aggressive growth after acquiring Points, the global leader in powering loyalty commerce, in 2022, bringing two of the largest sources of ancillary revenue under one roof to create an even greater impact for travel businesses worldwide. With the addition of UpStay, Plusgrade adds hotel upgrades and other innovative ancillaries to its already extensive roster of ancillary revenue and loyalty products that are delighting customers the world over.
Over the next few weeks, UpStay will be integrated into the Plusgrade brand, and will operate as Plusgrade going forward. For more information on Plusgrade, please visit plusgrade.com.
Plusgrade powers the global travel industry with its portfolio of leading ancillary revenue solutions. Over 200 airline, hospitality, cruise, passenger rail, and financial services companies trust Plusgrade to create new, meaningful revenue streams through incredible customer experiences. As an ancillary revenue powerhouse, Plusgrade has generated billions of dollars in new revenue opportunities across its platform for its partners, while creating enhanced travel experiences for millions of their passengers and guests. Plusgrade was founded in 2009 with headquarters in Montreal and has offices around the world.