Plusgrade, a Canadian firm that provides ancillary revenue solutions for the global travel industry, acquired UpStay, an Israeli startup that provides upgrades and ancillary revenue solutions for the hospitality industry. UpStay serves hundreds of hotels in 17 countries by enabling hoteliers to drive higher ancillary revenue through multiple value-added revenue streams delivered to their guests.
Investopedia explains that ancillary revenue is the revenue generated from goods or services that differ from or enhance the main services or product lines of a company. Ancillary income is defined as the revenue generated that’s not from a company’s core products and services.
Founded in 2019 by CEO Tzafrir Blonder together with Omry Litvak and Dor Krubiner, UpStay has raised $3.5 million since its founding. UpStay provides advanced upgrade solutions for the hospitality industry.
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UpStay declares its mission is to empower hotels to build stronger relationships with their guests and to enhance the value of their brand. “UpStay isn’t about getting a guest to spend more by any means necessary,” it says. “It’s about hitting the sweet spot of giving guests the best possible experience, and providing them with services that they’re happy to spend extra on.”
“The acquisition of UpStay is another step forward for our vision and mission of becoming the Global Ancillary Revenue Powerhouse,” said Plusgrade CEO, Ken Harris. “We have been accelerating this mission through a series of innovations, launches and acquisitions, and have come into 2023 as a powerhouse for the global travel industry. We are thrilled to have the UpStay team join us, and look forward to tapping into their expertise and innovative technology to bring even more value to our now 200+ airline, hospitality, cruise, rail and financial services partners around the world.”
“This is an exciting day for UpStay,” said Tzafrir Blonder, CEO of UpStay. “After 4 years of incredible growth and success, we are thrilled to be joining forces with Plusgrade to invest further in our product offerings and enhance our ability to drive ancillary revenue for our partners through upselling additional on-property amenities and services. I look forward to continuing to lead the hospitality ancillaries vertical in the company, as we grow with Plusgrade in 2023 and beyond.”