ROCKVILLE, Md.—Avendra, a procurement services provider serving the lodging and hospitality industries in North America, has acquired BuyEfficient, an online purchasing program dedicated to serving the hospitality industry, from its parent company, Sunstone Hotel Investors.
“This acquisition reflects Avendra’s strength in the market and is another major step in our long-term strategy to grow our business by investing in new and innovative solutions and service offerings to benefit our customers,” said Wolfram Schaefer, Avendra president and chief executive officer. “We are excited to serve the BuyEfficient clients and believe the combined entity provides exciting new opportunities for customers. Customers will now be able to leverage the purchasing power and service offerings of Avendra and the Ecommerce technology platform provided by BuyEfficient.”
Avendra’s supply chain and purchasing solutions are tailored to meet the needs of its clients. The company has always supported a wide range of Ecommerce platforms chosen by its customers, and the acquisition of BuyEfficient provides an additional purchasing platform that can be integrated for customers interested in this technology.
According to Sunstone President and Chief Executive Officer John Arabia, the sale of BuyEfficient will allow Sunstone to focus on its core business of hotel ownership. “We believe that the combination of Avendra and BuyEfficient will create a world-class purchasing platform, and we look forward to being a customer of the new entity going forward,” Arabia said.