Despite the current economic downturn, a Limerick-based provider of web-enabled hotel software with more than 700 hotel group customers worldwide has announced plans to continue its global expansion and accelerate its revenue growth to €3.5 million in 2010.
Employing 40 people at its base in the National Technology Park, University of Limerick, Avvio provides online reservations software, including online marketing and web design, for more than 700 group and independent hotels and serviced-apartment providers worldwide.
With ongoing support from Enterprise Ireland, 2009 client acquisitions include London-based boutique hotel group MyHotels, Italy-based tourism portal Varese.it, Dubai MiNC Apartments and Maldives tour operator BookMaldives.com.
Avvio also supports more than 360 hotels throughout Ireland, including 80pc of the 5-star market.
The company was ranked fifth in the recent Deloitte Fast 50 awards.
“Avvio is a wholly-owned Irish company and has grown revenue significantly over each of the last three years,” said Avvio CEO Brian Reeves.
“We have continued to invest heavily in innovative software and marketing services, and have expanded our team to over 40 highly skilled professionals, all of whom have been trained to a level we need to offer world-class services both at home and in tough international markets.
“We will continue to accelerate our growth from €750,000 in 2007 to €3.5 million in 2010. This has been driven by a concerted business-development effort, deploying a global franchise and distribution model internationally, continuing to invest up to 20pc of turnover in software research and development, partnering with the best and most cost-effective local partners for non-software services, and achieving return on investment on a par with blue-chip tech companies.”
“In today’s economic climate, more than ever, our focus is on delivering innovative solutions to hotels so they may compete more aggressively online,” he added.
Avvio was established in 2002 by Limerick brothers Brian and Frank Reeves, who were previously shortlisted for the Ernst and Young Entrepreneur of the Year Awards.
By John Kennedy