1、Travel&Hospitality TechnologyQ3 2023 Market UpdateExecutive Summary:Q3 2023 Travel&Hospitality Tech Market Update2DateCompanyInvestor(s)/AcquirerTransactionSep-23$59M Series CSep-23$313M AcquisitionJul-23$500M Acquisition(2)Jun-23$485M AcquisitionJun-23$194M Financing(3)Market ObservationsCapital Ma

2、rkets Activity in Travel&Hospitality TechRecent Notable TransactionsIndustry Commentary$1.7 Trillion2023E Travel&Hospitality Revenue(1)Volume rebounding in 2H 2023.Peak volume aligned with public software valuation highs.“AI has enriched many aspects of our lives,much like the internet did in its ea

3、rly days,and travel is no different.Simplifying the complex world of travelrequires three critical elements to be successful:a solid tech platform,high-quality data,and an AI-first culture.”Rathi Murthy,CTO,July 2023“We are,and always will be,a people-focused industryTechnology should be a tool that

4、 we can use to monitor,measure,and enhance our service levels,and we shouldnt treat is as a means of removing the personal touch and the mark of human hospitality.”Richard Valtr,Founder,February 2023Sources:S&P Capital IQ,PitchBook,451 Research,and company press releases as of September 29,2023.(1)S

5、kift Research Global Travel Outlook 2023;revenue forecast represents the sum of hotel,airline,short-term rental,online travel agency,and cruise line 2023 revenue forecasts.(2)Vitruvian Partners made a follow-on investment in OAG as part of the transaction,which values the combined company at$500 mil

6、lion.(3)Comprised of$85 million of equity and$109 million of debt.Through Q3 2023,the travel&hospitality tech sector has seen significant improvement in both capital investment and M&A activity,with volumes recovering from 2022 lows.Core travel&hospitality markets are approaching a full recovery as