The merged entity, which will take the HRS name, offers global and regional corporations an unmatched combination of proven services, cost-saving automation, and on-the-ground expertise. Today’s announcement is the culmination of a successful partnership that started with a minority investment in 2016.
The Lido Group has a proud history in Australia and New Zealand. Launched in 1987, Lido is a respected leader in facilitating hotel agreements and bookings between corporations, government agencies, and more than 8,500 hotels in its network. Lido’s automated payment solutions, working in conjunction with all major card providers, typically drive process savings of 70 percent for clients.
HRS and Lido share a commitment to leveraging seamless payment to boost hotel program performance. This merger will help drive enhanced results for Lido and HRS clients – from hotel negotiations to booking to payment – at a time when lodging costs in Australia are projected to increase. HRS works with more than a third of the world’s top 100 brands on their hotel programs.
“This merger is good news for a marketplace that is increasingly aggressive in implementing automation and technology that minimizes hotel costs while maximizing business traveler satisfaction,” said Ana Pedersen, Managing Director of HRS Australia/New Zealand. “What makes this stand out is the unsurpassed combination of leading technology – like HRS’ proprietary ‘Recommendation Engine’ and Hotel Rate Filtering Solution – with the expertise of our 60+ staff located in Australia.”
“Our payment solutions have long been recognized for the efficiency and savings they’ve provided to clients in our region,” said Steve Mackenzie, CEO of The Lido Group. “HRS is investing considerably in its worldwide payment platforms, giving this merger immense benefits for corporate programs.”
Corporate Travel Spend & Hotel Rates on the Rise in Australia
Travel projections for 2020 and beyond for Australia highlight the timeliness of this merger:
- The Global Business Travel Association (GBTA) anticipates hotel rates will rise by nearly five percent next year – only Indonesia among Asia-Pacific countries will see a larger increase.
- GBTA projects that overall business travel spend in Australia will grow by more than four percent annually, from $23.6 billion in 2018 to $28.9 billion in 2023.
- 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.
This unique combination of factors in the region gives companies that are growing in Australia and New Zealand a compelling reason to work with the newly merged HRS/Lido team. With Lido’s 8,500 connected properties and HRS’ unparalleled worldwide access to more than 515,000 hotels, global and regional companies can easily expand their hotel options and take advantage of negotiated savings, booking efficiencies and true transparency through payment automation. Companies working with Lido today now have access to HRS’ 500+ on-the-ground experts in the world’s top 60 business travel markets to negotiate and support their hotel agreements.
Lido employees will join HRS this month and move into a new HRS office in Sydney. Mr. Mackenzie will retire from Lido upon completion of merger-related activities.