Plusgrade Inc. Company Research Report

Company Overview

Name: Plusgrade Inc.

Mission: Plusgrade aims to bring happiness to travelers while driving significant ancillary revenue for the global travel industry.

Founded: 2009

Founder: No information is available

Key People:

Ken Harris, Founder & CEO

Jay Malowney, President, Points

Brett Mellon, President, Solutions

Sarah Bettencourt, Chief People Officer

Danielle Brown, Chief Marketing Officer

Giovanni Pizzoferrato, Chief Technology Officer

Fady Hammal, Senior Vice President and General Counsel

George Yao, Chief Financial Officer

Headquarters: Montreal

Number of Employees: No information is available

Revenue: No information is available

Known For: Plusgrade is recognized as a global powerhouse in ancillary revenue generation for the travel industry, providing innovative solutions to enhance customer experiences and drive new revenue streams.

Products

Overview

Plusgrade offers a comprehensive suite of ancillary revenue products tailored to various travel sectors including airlines, hospitality, cruise lines, and rail. The products are designed to enhance customer experience and drive significant, high-margin revenue.

Product Breakdown

1. Premium Upgrade

Description: Allows passengers and guests to bid for or purchase upgraded seats or rooms through a white-labeled user experience.

Key Features:

Widely adopted upgrade solution.

Customizable bidding options.

Seamless integration within existing systems.

Proven revenue growth and customer satisfaction.

2. Seat Blocker

Description: Enables passengers to block the seat or row next to them, creating additional comfort and generating revenue from otherwise unused inventory.

Key Features:

Dynamic adaptation based on load factors.

Plug-and-play setup.

Revenue generation on unsold inventory.

3. SpeedPass

Description: Offers travelers the option to access priority check-in, boarding, and expedited security lanes.

Key Features:

Priority check-in and boarding.

Expedited security clearance.

Monetization of the airport journey.

4. StayExtend

Description: Provides guests with the flexibility to check-in early or check-out late, monetizing the change in stay duration.

Key Features:

Easy early check-in and late check-out options.

Revenue generation from stay duration modifications.

5. StayPlus

Description: Allows hotels to offer a variety of additional services and amenities to guests, boosting revenue from upsells.

Key Features:

Seamless upsell of amenities such as spa visits, dining, and more.

Increased guest satisfaction and customization options.

6. Loyalty Solutions by Points

Description: Facilitates the use of loyalty program points and miles for various transactions, driving customer satisfaction and incremental revenue.

Key Features:

Loyalty currency retailing.

Platform for exchanging, earning, and redeeming points/miles.

Recent Developments

Corporate Developments

2022: Plusgrade acquired Points, consolidating two major sources of ancillary revenue under one umbrella to enhance impact for travel businesses.

2023: The acquisition of UpStay enhanced Plusgrade's offering in the hospitality industry, adding advanced upgrade and ancillary revenue solutions.

New Products and Features

New Acquisitions:

Points: Expanded the capabilities in loyalty commerce, enabling innovative uses of loyalty program currencies.

UpStay: Brought advanced solutions for upgrade and ancillary revenue generation in hospitality.

Product Enhancements:

Continual improvements to existing products like Premium Upgrade, Seat Blocker, and SpeedPass to enhance usability and revenue potential.

Integration of loyalty points as payment options across various ancillary products.

New Partnerships

Plusgrade partners with over 200 leading companies across airlines, hospitality, cruise, passenger rail, and financial services, extending their reach to create incredible customer experiences and new revenue opportunities.