SOURCE: JLL

JLL

November 24, 2015 10:35 ET

JLL Acquires Avenue9 to Add IT Consulting Capability to Its Hotels & Hospitality Group

LONDON, UNITED KINGDOM--(Marketwired - Nov 24, 2015) - JLL (NYSE: JLL) today announced the acquisition of Avenue9, a rapidly-growing recent start-up business providing tailored IT Consulting services for the hotels and hospitality sector. The move reflects growing interest from clients of JLL's Hotels & Hospitality Group in specialist technology strategy advice and services. Based in Newcastle-upon-Tyne in the north-east of England and employing seven people, Avenue9 is currently focused primarily on the UK market. However, the combination of Avenue9's ground-breaking service proposition, JLL's global platform and growing client demand for hotel IT consulting services offers immediate synergies and considerable scope for international expansion.

Mark Wynne-Smith, Global CEO of the JLL Hotels & Hospitality Group, said: "In all respects, IT is an increasingly vital aspect of hotel operations and a growing cost and management consideration for our clients. Avenue9 has developed innovative and highly effective technology solutions designed specifically for the hotels sector, an ideal complement to our existing asset management and advisory services, providing clients with an excellent outsourcing option."

Jonathan Hubbard, Head of Investor Services for JLL Hotels & Hospitality EMEA, said: "We have been impressed with the impact Avenue9 has been making on the UK sector since its launch in 2013. Their capabilities and approach dovetail perfectly with JLL's ongoing core strategic focus on delivering sector-leading digital capabilities and ensuring our clients have access to the best technology advice and tools."

Kevin Edwards, Managing Director of Avenue9, said: "We are really excited to be joining with JLL Hotels & Hospitality. After a great couple of years which have proven our business model and attracted considerable client interest, our strategic growth plan required us to find a partner with a powerful international platform and reputation for excellence. JLL was always the partner we had in mind. We are delighted with this outcome and looking forward to taking this next big leap forward." 

Philippa Witheat, co-founder and Sales & Marketing Director at Avenue9, added: "Joining with JLL creates a unique combination within the hotels and hospitality services sector. Nothing like this exists elsewhere. This gives us a huge platform on which to build our specialist IT consulting offer."

The Avenue9 team will continue to be based in Newcastle and will operate under the existing name for a transitional period before fully adopting the JLL brand. The acquisition takes immediate effect.

Click here to watch a short video featuring Mark Wynne-Smith, Kevin Edwards and Philippa Witheat introducing the acquisition of Avenue9.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $57.2 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

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