The strategic merge with the French brand positions CoverManager as an industry leader in Europe and Latin America.
Over 14,000 restaurants now rely on CoverManager for their comprehensive reservation management after this move.
SEVILLE, Spain, Oct. 6, 2023 /PRNewswire/ -- The acquisition of Guestonline is a strategic move in CoverManager's global expansion. Following the acquisition of the German reservation management firm Seatris, CoverManager has expanded its presence to eight strategic markets in its pursuit of industry leadership in Europe and Latin America.
Guestonline's network of partner restaurants in France will now have access to cutting-edge reservation management technology, already utilized by over 400 Michelin-starred establishments. José Antonio Pérez, CoverManager's CEO and co-founder, stated, "Both CoverManager and Guestonline share a fundamental commitment to collaborating closely with restaurants to develop solutions that boost profitability and enhance customer relationships. With this partnership, we aim to establish a new technology standard for the hospitality industry."
Antoine Girard, Guestonline's CEO for 16 years, enthusiastically declared, "We are excited to collaborate with CoverManager in creating an innovative reservation solution for the restaurant sector."
Initially addressing the industry's No Shows issue with a rate below 2% for its partner restaurants, CoverManager has evolved to offer sophisticated reservation management resources tailored to Michelin-starred venues, independent establishments, and large restaurant chains. Since its inception in 2015, CoverManager has consistently achieved positive EBITDA growth, doubling its business annually. This success is attributed to key development initiatives, including innovations like artificial intelligence-driven automated phone reservation management and the establishment of a vast demand-generating network with partners such as Google, Facebook, Instagram, AMEX, Opentable, and Amadeus. Due to this constant innovation policy, CoverManager has launched "CoverAtTable", a feature in its Software as a Service (SaaS) that enables restaurants to integrate their point of sale (POS) terminals with the reservation system to track customer spending.
These transactions have been expedited, thanks in part to CoverManager's successful Series A funding round in late 2022, raising €52 million from external private investors. Notable investors include the British bank GP Bullhound, J. de Jaime (CVC), F. Ruiz (Tuenti, Auro, and Playtomic), P. Ávila (founder of Medac), J. Gutiérrez (CEO of the Grupo Dani García), and F. Martínez (Alia Capital Partners Fund).
The company, operating in more than 40 countries, with an expected Annual Recurring Revenue of up to €19 million for 2023, oversees more than 18 million monthly diners through its technology platform. To date, CoverManager has successfully onboarded more than 14,000 restaurants, digitizing reservation and order management for over 400 Michelin-starred restaurants such as Dani García, El Celler de Can Roca, and David Muñoz.
Contact: María Romero, Brand and Growth Manager in Cover, mromero@covermanager.com
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