Strata Partners is delighted to announce that it acted as exclusive corporate finance adviser to Averroes Capital (“Averroes”) on its significant growth capital investment in Journey Hospitality (“Journey”).
This is the maiden investment made by Averroes, a new UK based mid-market private equity investor that partners with ambitious management teams to deliver growth and build great businesses.
Founded in 2012 and headquartered in Cheltenham, Journey recently launched its ‘onejourney’ ecommerce platform for hotel operators, which is already being used by over 100 luxury hotels and resorts. The software aggregates all of a hotel’s products into live bookable inventory, enabling hotel guests to book multiple services (including rooms, spa treatments and dining tables) seamlessly online in one basket, with significant benefits both for hotel profitability and for the customer experience.
Averroes has obtained a significant stake in Journey Hospitality by purchasing shares from the company’s initial investors as well as by providing the business with a growth capital investment of £5m, which will accelerate Journey’s ability to deliver its vision to revolutionise ecommerce for the hospitality industry. Averroes’ investment, which is the first growth funding raise for the company since it was established in 2012, will help Journey advance its product development by strengthening its tech teams, scaling its sales and support capabilities for clients, and further internationalising its customer base using the platform’s integrations.