Driftwood Hospitality Expands Flywire Partnership to 90 U.S. Hotels, Streamlining Payments
FLYW sits 59% above its 52-week low of $9.965.
Summary
Flywire announced an expanded partnership with Driftwood Hospitality Management, deploying its payment and software solutions across nearly 90 U.S. hotel locations. Driftwood, an existing customer, is enhancing its use of Flywire's hospitality solutions to streamline guest transactions and back-office operations. The expansion is driven by reported benefits, including a nearly 30% reduction in payment processing costs across 10 properties and significant savings across millions in total payment volume. This news demonstrates strong customer retention and growth within Flywire's existing client base, indicating healthy business momentum and continued adoption of its vertical-specific solutions.
At the time of this announcement, FLYW was trading at $15.85 on NASDAQ in the Technology sector, with a market capitalization of approximately $2B. The 52-week trading range was $9.97 to $18.05. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.