Pracrea, which launched Proceso Hospitality, announces the acquisition of The Hotel Inventory. In 2013, The Hotel Inventory generated nearly 1 million page views from 155,000 visits. On average, there are 300 hotels available on the site and visitors spend over five minutes searching and analyzing the inventory of hotels for sale. With 9,600 users, the merger will create a user base of close to 25,000. That additional user database will create significant growth in the use of the site in terms of views and search.
“After months of negotiations, we are happy to announce The Hotel Inventory as part of our solutions and technology. The merge of the two companies helps accelerate our entry into the hospitality sector and also puts us ahead of the game to target our next market vertical. Over the next two quarters, we will focus on merging the technologies and maintain our primary strategy of providing a complete transaction tool” said Mukesh J. Mowji, founder and CEO of Pracrea. As part of the acquisition, Robert P. Astudillo, founder and CEO of The Hotel Inventory, will join the Pracrea, Inc team as its Chief Operating Officer.
According to Robert P. Astudillo,, “with strategies that were similar in direction, this will allow both teams to work together and create world class solutions for not only the hotel industry but also the other commercial businesses we are targeting. Our technology tools will provide significant marketing data that will make selling properties and businesses more effective”.
Pracrea is a Silicon Valley based company that will provide an alternative real estate and business transaction methodology. This methodology is developed using Web 2.0 based processes, and cloud computing that use social media as the communications backbone. Pracrea was started by senior industry veterans, Mukesh J. Mowji and Tarun S. Patel who have a strong background in software technology and commercial and hospitality real estate transactions. Both are former chairman of the Asian American Hotel Owners Association (AAHOA). Currently, commercial real estate and business transactions are predominantly a manual process where the real estate or business broker facilitates and manages the transaction. These processes are embedded with multiple inefficiencies and are fragmented and not repeatable. These inefficiencies also affect the marketing of the asset to potential buyers and sellers and affect the timing for closure of the potential transaction. In addition, the current transaction process is expensive. For additional information, please visit www.pracrea.com
ABOUT THE HOTEL INVENTORY
The Hotel Inventory is an innovative approach to marketing hotels for sale online. Most commercial real estate websites follow a model that requires an investor to search and find the listing. The hotel Inventory method takes an active and focused approach to marketing hotel. Each recipient is required to opt-in to receive the information about the hotels for sale. The Hotel Inventory has been an online channel for hotels for over two years and has marketed over 1200 hotels. Primarily used by brokers, the low cost subscription model allows brokers to market an unlimited number of hotels to the extensive user database. The Hotel Inventory is headquartered in Burlingame, California with offices in San Jose, California and in Manila, Philippines. For additional information, please visit www.thehotelinventory.com