Northstar Travel Media Acquires a Majority Stake in Inntopia
Northstar Travel Media, the leading business-to-business information company serving the travel and meetings industries, has acquired a majority interest in Inntopia, a leading provider of e-commerce reservation technology and services to destination marketing organizations; ski resorts; tour operators; lodging suppliers; and activity, event and transportation suppliers. Other partners include Inntopia's founder and CEO, Trevor Crist, Aspen Skiing Co. and Intrawest Resorts Holdings Inc.
"The addition of Inntopia is a transformational strategic investment for our company," said Thomas Kemp, chairman and CEO of Northstar Travel Media. "For many years, we have been the leading information, media and marketing-solutions company serving the North American travel industry. Now, with the addition of Inntopia, we are able to offer our clients and partners access to state-of-the-art online booking tools for travel agents and direct sales channels."
Inntopia develops connectivity between systems and aggregates all types of destination travel inventory, simplifying reservation procedures for its partners and their customers. Northstar Travel Media's majority stake in Inntopia positions it as a "software as a service" e-commerce business.
The Inntopia platform was developed to enable travel resellers to package and sell a wide range of non-traditional travel products, such as vacation rentals, activities and tours. Inntopia also supports more traditional products, such as air, car and hotels. The company supports dozens of third-party application programming interfaces, including popular property management systems, point-of-sales systems, global distribution systems, website analytics packages, accounting systems and more. Inntopia also offers affiliate and agent commission-payment processing services to its clients. All of the Aspen Skiing Co. and Intrawest Resorts will soon be on the Inntopia platform.
Inntopia is the leading advanced reservation online booking software platform for the ski resort and mountain destinations market. "We believe that we will create significant marketing synergies between Inntopia and our recently acquired Mountain Travel Symposium, the leading conference serving the mountain destination industry," said Kemp.
"In addition to our growing reach across North America, Inntopia has expanded internationally, with clients in Switzerland, France, Italy, Sweden, Australia and the Caribbean," said Trevor Crist, Inntopia CEO. "We've also moved into new markets, including golf, water parks and beach. This partnership with Northstar will help us accelerate our growth across additional vertical and geographical markets, and spur additional development in our technology. We're also very pleased that both Intrawest and Aspen Skiing Co. recently joined as partners in the business. Their participation speaks volumes about our leadership position in the mountain travel industry and our ongoing commitment to that market."
"Inntopia has distinguished itself as the best ecommerce platform in the ski and lodging space, due to its flexibility and robust packaging features" said Matt Jones, vice president and chief financial officer of Aspen Skiing Co. "We're excited to sign on as a new customer, and we're investing because we believe strongly in the company's future."