Hotel technology platform provider myDigitalOffice has acquired Raleigh, North Carolina-based Broadvine, a provider of hotel performance planning applications, including the company’s cloud-based budgeting and forecasting platform. Terms of the acquisition were not disclosed.
According to a press statement, the addition of Broadvine’s technology will intensify the growth myDigitalOffice and “solidify [its] position as a market leader in hotel performance management and data analytics.” The acquisition expands the company’s platform capabilities by adding standardized hotel budgeting capabilities with week-over-week forecasts.
Additionally, Broadvine’s customers will reportedly benefit from additional support and customer success resources from myDigitalOffice’s globally dispersed team of hospitality technologists and customer success professionals.
“Budgeting and forecasting is the number one thing that our customers have asked us for over the last 18-24 months,” said Ali Moloo, founder and CEO of myDigitalOffice. “This acquisition instantly rounds out our platform to create a truly end-to-end hotel performance management system. It’s a monumental milestone for us and a great honor to welcome the Broadvine team into the MDO family as we continue to drive positive change in our industry through innovation and customer service.”
Broadvine’s platform enables hospitality companies to store all of their hotel data in one location, review and edit budgets, create driver-based budgets and forecasts, as well as compare budget and forecasting across their portfolios.
Despite the global pandemic, myDigitalOffice, which was founded in 2015 and is based in Bethesda, Maryland, more than doubled its customer base in 2020. The company expects to grow three-fold or more this year.