Acquires Bookt, Provider of InstaManager Vacation Rental Solutions
(February 24, 2014) – 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.
“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.
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.
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.