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Seven Seas seeks to add new product lines

Dubai-based systems integrator Seven Seas Computers is looking to tap international private equity funds for its fast developing hospitality management software.

The deal could be finalised in the second half this year, according to a top official.

The company developed the "momentohs®" solution in-house in 2001 and, since then, has deployed the ERP-based solution at some leading independently managed hotel properties in Sri Lanka, Malay-sia, Kenya and beyond. With its newly established office in Malaysia, it will cover the Far East and Australia.

"In another five years, we believe momentohs® will emerge as our flagship brand on both revenue and bottomline by representing over 50 per cent," said Chairman Mehboob Hamza.

"We are in negotiations with certain fund houses. The way we see it is to spin off a separate company based on the Momentohs platform to tap new funds. We have nurtured the product over the last three years, as well as created a distribution channel that is working well. We may even have our first US customer within the next few months."

"We are not limiting our geography in our search for the perfect partner."

According to Hamza, there is a mushrooming of hotel properties, particularly in the Far East and near Asia, not owned by the big international chains.

"They offer speciality services, go far beyond in providing guest experience and are the trendsetters in the hospitality industry," said Hamza. "They are the perfect clients for momentohs®, and we see that competing solutions from other vendors are too fragmented nor flexible to serve their demanding needs."

"They do not offer the end-to-end solution that we can. Large international hotel chains tend to use particular software for 10 to 15 years. We see many opportunities through multiple licensing agreements and by offering specific variations on our solution to meet certain requirements of our clients, which is the differentiator."

Currently, the core systems integration services makes up 80 per cent of Seven Seas's revenues.

While there are no plans to develop new solutions targeted at specific industries, as it did with momentohs®, Seven Seas is looking to add new product lines in alliance with other vendors. Biometric technolog and RFID is something that is of particular interest.

"The way we see taking on new industry specific solutions is to see real benefits for the customer, as much as the competitive landscape in that particular category," said Hamza.

"Egypt is another market for momentohs® which we will look at this year, most likely through value-added partners."

For five to seven star chain properties, it encompasses the entire spectrum of a hotel’s operations at property level and Head Office central MIS.
For medium size properties from 50-250 rooms, which require reduced functionality at a lower price and yet manage its operations efficiently.
For small to medium size resort or city boutique hotels with less than 50 room, it provides better features than off the shelf software at a competitive price and yet scale up to sprint when required.
For fine dining and table service restaurants, it is a fully integrated solution with POS, Financial, Cost control and Guest Experience.
SevenSeas Computers LLC