Private equity company Serent Capital has announced the sale of its portfolio company, Sceptre Hospitality Resources (SHR), to The Access Group for an undisclosed sum.

Established in 2012, SHR aids hotels in enhancing revenue generation through its central reservation system (CRS).

The company's suite of products, which includes guest and revenue management tools, is utilised by thousands of hotels worldwide.

Serent Capital's investment in SHR in 2020 aimed to bolster the company's growth within the hospitality industry.

Under Serent Capital's ownership, SHR expanded its global reach, now serving around 2000 hotels, and advanced its AI-driven product offerings.

SHR CEO and co-founder Rod Jimenez said: “We initially partnered with Serent due to their deep industry expertise in the hospitality sector as well as their great reputation regarding integrity and smarts. Through their Growth Team initiatives, we were able to significantly increase our growth through a multi-product strategy.”

The latest deal is projected to boost Access Group’s position in North America and help it cater to larger hotel groups with more complex distribution requirements.

William Blair offered financial advisory services to Serent Capital and SHR for the transaction.

Serent Capital partner Dexter Hopen said: “It has been rewarding to partner with the SHR team and help them execute their growth initiatives through go-to-market strategies, M&A, and building their team while strengthening their market-leading position in the hospitality space.”

In November 2022, SHR's growth trajectory was supported by the acquisition of Avvio, an Irish hotel tech company. Avvio is a provider of AI-powered booking engine, allora.ai.

This move, sponsored by Serent Capital, was designed to create a technology powerhouse for both independent hotels and chains, ensuring improved customer support worldwide.