Despite the current downturn, Ireland's leading provider of web-enabled hotel software has announced plans to continue its global expansion and accelerate its growth to EUR3.5m in 2010.Avvio made the announcement today after it was ranked fifth in Deloitte’s Technology Fast 50. The prestigious programme, now in its 10th year in Ireland, ranks the 50 fastest-growing technology companies in Ireland based on percentage revenue growth over a five-year period.
Employing 40 people at its base in the National Technology Park, University of Limerick, Avvio provides online reservations software, including online marketing and web-design, for over 700 group and independent hotels and serviced apartment providers worldwide. With ongoing support from Enterprise Ireland, 2009 client acquisitions include London-based boutique hotel group MyHotels, Italy-based tourism portal Varese.it, Dubai MiNC Apartments and Maldives tour operator BookMaldives.com. Avvio also supports over 360 hotels throughout Ireland including 80% of the 5-star market.
According to Avvio CEO Mr. Brian Reeves: “Avvio is a wholly-owned Irish company and has grown revenue significantly over each of the last three years. We have continued to invest heavily in innovative software and marketing services, and have expanded our team to over 40 highly skilled professionals, all of whom have been trained to a level we need to offer world class services both at home and in tough international markets.”
Commenting on the Deloitte Fast 50 programme and the company’s plans to continue its global expansion, Mr. Reeves stated: “This award is reserved for Ireland’s fastest growing technology companies, which is appropriate given that we will continue to accelerate our growth from EUR750,000 in 2007 to EUR3.5m in 2010. This has been driven by a concerted business development effort, deploying a global franchise and distribution model internationally, continuing to invest up to 20 percent of turnover in software research and development, partnering with the best and most cost effective local partners for non-software services, and achieving return on investment on a par with blue chip tech companies”.
“In today’s economic climate, more than ever, our focus is on delivering innovative solutions to hotels so they may compete more aggressively online”, he added.
Avvio was established in 2002 by Limerick brothers Brian and Frank Reeves, who were previously shortlisted for the Ernst and Young Entrepreneur of the Year Awards. Further information on Avvio is available from LoCall 1890 302000 or at www.avvio.com.
