GuestTek latest: GuestMetrics sold for $5m

GuestMetrics, which offers insight solutions for the hospitality industry, was bought last week by tech industry veteran David Lovatt (pictured), who then formed GuestTek as a holding company.

Under the terms of the sale GuestTek will retain the right to market and sell GuestMetrics software products, receiving a 25% slice of all net revenue from sales.

Lovatt told Research that he had always intended to sell GuestMetrics, and his main aim was to offer its software to clients outside of its domestic US market. GuestMetrics’ CRM technology will be sold alongside email management technology from Enable Software, which GuestTek acquired earlier this week.

GuestTek’s goal, Lovatt explained, “is to establish a business that offers CRM, email management and other services through an online portal”.

While GuestTek will sell GuestMetrics software outside the US, Lovatt said that it will be “business as usual” for the firm in its domestic market. Its management team of Brian Barrett and Tammy Posten will continue to lead it after resigning from their positions on the board at GuestTek.