In a strategic move to strengthen its market position, Operto, a leader in the short-term rental industry, has just announced its third acquisition with DACK, a company specializing in guest communication. Steve Davis, CEO of Operto, elaborates on this acquisition and the company's aggressive growth strategy through mergers and acquisitions.
Steve Davis discussed the integration of DACK into Operto's operations, highlighting DACK's app sophistication and alignment with Operto's growth trajectory. Davis remarked,
“DACK’s technology not only complements but also significantly advances our existing roadmap, propelling us a year ahead in our strategic plans.”
Operto's acquisition history includes VR Scheduler (now Operto Teams), which focuses on operations and housekeeping, and StayMyWay (now Operto Boost), which targets the hotel industry. These strategic acquisitions have positioned Operto as a major provider in the industry, although Davis acknowledges the importance of specialty vendors. "While we aim to be a key player," Davis said, "we recognize the invaluable role of specialized providers in our industry."
The conversation shifted to industry consolidation. Davis believes this trend will continue, with well-funded companies absorbing smaller, innovative players. In this evolving landscape, he envisions Operto as a key player, though not a one-stop shop. "The industry is consolidating, and we are adapting to these changes. Our goal is not to monopolize but to complement and strengthen the ecosystem," Davis explained.
Managing rapid expansion and integrating new acquisitions are significant challenges for Operto. Davis spoke about the complexities of merging different technologies and teams to create a cohesive and more robust product offering. "Merging different cultures and technologies is a complex yet rewarding process. It's about creating something greater than the sum of its parts," Davis stated.
Davis also touched on the broader implications of these acquisitions for Operto's customers and the market. He likened Operto's strategy to a main grocery store supplemented by specialty shops, suggesting a balance between being a major provider and acknowledging the role of niche players. "We are building an ecosystem where Operto serves as the cornerstone, complemented by specialized solutions," said Davis.
The interview concluded with Davis expressing excitement for Operto's future and the benefits these strategic moves bring to their customers and the industry. "We are excited about this journey and the positive impact our growth will have on the industry and our customers," Davis concluded.
Watch the full interview between Wil Slickers, Good Morning Hospitality, and Steve Davis, as Wil could sit down with Steve at the Operto Office to discuss the acquisition.