Digitaltown, Inc. (DGTW) Enters Agreement to Acquire Rezserve Technologies
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DigitalTown, Inc. (OTC: DGTW) announced today the acquisition of Rezserve Technologies Ltd. of Vancouver, Canada.
Rezserve has been providing Software as a Service (Saas) solutions for the lodging industry since 2003. With customers around the world, the largest customer is currently processing in excess of $10 million per year using the Rezserve platform.
"Rezserve is a natural fit with DigitalTown's commitment to empowering local economic development," explained Rob Monster, CEO of DigitalTown. "At a time when lodging providers are contending with the combined impact of high fees from leading online travel agents such as Expedia, and with the rapid growth of Airbnb, DigitalTown's integration of Rezserve offers a path for cities to keep more revenue in the local economy while at the same time strengthening cities' online brand and also improving safety in the community."
The Rezserve platform will power lodging marketplaces in the DigitalTown Smart City platform. The DigitalTown Smart City Network is expected to reach more than 10,000 cities in 2017 through the scheduled rollout across DigitalTown's network of .CITY websites. Where possible, these city websites and matching mobile applications are operated in partnership with city management.
"The Rezserve team is delighted to be part of a company with such an inspiring vision for local economic development," noted Clint Skidmore, Founder and CEO of Rezserve. "With DigitalTown as an international marketing and technology partner, we are now poised to dramatically accelerate market adoption of what is already a world class solution."
Mr. Skidmore will continue to serve as CEO of Rezserve, a wholly owned subsidiary of DigitalTown, Inc. The Rezserve brand will cater to the lodging industry as a Software as a Service (SaaS) platform for hotels, B&Bs, and campgrounds.
"Rezserve not only powers our booking engine but has been an integral part of the movement towards Central Reservations in Whistler," added Tony Medd, General Manager, Summit Lodge Boutique Hotel.
Rezserve will continue to offer cost-effective licensing solutions. In addition, through integration with DigitalTown, Rezserve lodging operators will have direct access to an expanded array of targeted booking traffic.
"The lodging industry is in a period of great change," concluded Monster. "DigitalTown and Rezserve are well positioned to capitalize on the changing market conditions."
For more information on DigitalTown, visit www.digitaltown.com or visit Rezserve at www.rezserve.com
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