Lido Group, a provider of automated hotel and hospitality technology in Australia and New Zealand, is now merged with global hotel solutions provider HRS, with Lido staff moving into a new HRS office in Sydney this month.
Steve Mackenzie, CEO of the Lido Group, will retire upon completion of merger-related activities.
Launched in 1987, Lido facilitates hotel agreements and bookings between corporations, government agencies, and more than 8,500 hotels in its network.
The merged entity, which will take the HRS name, is the culmination of a partnership that started with a minority investment in 2016. As a result of this merger, companies working with Lido will now have access to HRS‚Äô 500-plus experts in the world‚Äôs top 60 business travel markets to negotiate and support their hotel agreements.
‚ÄúThis merger is good news for a marketplace that is increasingly aggressive in implementing automation and technology that minimises hotel costs while maximising business traveller satisfaction,‚ÄĚ said Ana Pedersen, managing director of HRS Australia/New Zealand.
This merger will also help drive results for Lido and HRS clients ‚Äď from hotel negotiations to booking and payment ‚Äď at a time when lodging costs in Australia are projected to increase.
GBTA projects that overall business travel spend in Australia will grow by more than four per cent annually, from US$23.6 billion in 2018 to US$28.9 billion in 2023.
As well, a significant number of business-grade hotel rooms will be added to the procurement opportunity mix. More than 300 new properties are coming online in the next five years, representing an additional 45,000 rooms. Melbourne and Sydney both anticipate more than 10,000 new rooms by 2025.