Information on the target
Travelnode, a company primarily owned by private equity firms Sandberg Capital and ARX Equity Partners, has acquired Rentlio, the second-largest provider of hospitality software in Croatia. This acquisition follows the recent purchase of the Italian company Podcamp in April and is a strategic move aimed at consolidating the European hospitality technology market. The merger of Rentlio with Phobs, which Sandberg added to its portfolio in 2025, creates a clear leader in providing software solutions for hotels, campsites, and apartments in Croatia and Slovenia.
Rentlio is recognized as a leading provider of cloud-based property management systems (PMS) in Croatia, serving nearly 2,000 customers in the hotel and apartment accommodation sector. With its modern cloud product, strong customer base, and experienced management team, Rentlio represents a strategically significant acquisition that further strengthens Travelnode's leading position in the hospitality technology market.
Industry overview in the target’s specific country
The Application Software industry in Croatia has experienced significant growth in recent years, driven by the increasing digitalization of businesses across various sectors, including hospitality. The demand for innovative software solutions has surged as companies seek to enhance operational efficiency and improve customer experiences. In particular, the hospitality sector has embraced technology to streamline operations, manage bookings, and optimize revenue management, leading to a robust market for application software tailored to this industry.
As Croatia continues to be a popular tourist destination, the need for advanced hospitality software solutions has become paramount. Hotels, campsites, and vacation rentals are increasingly adopting cloud-based property management systems to manage their operations more effectively. This trend is supported by the growing number of international visitors and the competitive landscape among local hospitality providers, which drives the demand for sophisticated software solutions that can provide a competitive edge.
Moreover, the Croatian government has been supportive of the technology sector, implementing policies that encourage innovation and investment in digital solutions. This favorable environment has fostered the growth of local software companies, enabling them to develop and offer cutting-edge applications that cater specifically to the needs of the hospitality industry. As a result, the Application Software industry in Croatia is poised for continued expansion, with significant opportunities for companies that can deliver innovative and effective solutions.
The rationale behind the deal The acquisition of Rentlio aligns with Travelnode's ambition to build a leading European hospitality technology platform. By integrating Rentlio's advanced cloud solutions with its existing offerings, Travelnode aims to c…