Serviced accommodation booking specialist Situ has acquired short-term rental technology company Rentivo.
Situ said the acquisition of Rentivo would allow it to create an amalgamated platform featuring serviced apartments, aparthotels and home rental for businesses and relocation specialists seeking extended stay accommodation. Terms of the deal have not been disclosed.
The company added that the agreement between the two UK-based firms would create “one of the most extensive networks of diverse, quality, vetted accommodation in the extended-stay sector”.
Rentivo’s technology stack includes property management and connectivity systems offering content, pricing and availability tools which connect directly to accommodation operators.
Phil Stapleton, CEO and founder of Situ, said: “It’s been my long-held ambition that Situ will become the data standard and repository for the professionally managed, extended stay sector. The acquisition of Rentivo brings us very close to that position.
“We want to be known by our global property partners as the single source to load inventory; by our industry partners such as travel and relocation management companies as the place to access inventory; and by our clients as their most trusted accommodation partner to find, book and manage a wide and diverse range of quality extended stay housing globally.”
Richard Vaughton, CEO and founder at Rentivo, added that the deal “represents an alignment in the evolving mid-term market segment” focused on technology.
In a separate move, Situ has also become a member of Sedex, which helps companies to source and manage supply chains more responsibly by providing tools, data analysis and insights.
Situ said it had already used the Sedex platform to carry out a self-assessment of its core operations. The company already has an ESG and sustainability programme called Be More Starfish.
“Joining Sedex is a pivotal move in our commitment to our ESG objectives,” added Situ’s Stapleton. “It signifies our dedication to strengthening ties with our valued accommodation partners who form the bedrock of our established global supply chain.”