Vianet Group (LSE:VNET) ananounced that it has renewed its contract with Admiral Taverns for a further five-year term, covering almost 1,100 sites.
The agreement keeps Vianet's Smart Zones Beverage Metrics draught beer monitoring and analytics in place, strengthens the Group's highly recurring revenue model with recurring revenues representing approximately 88% of Group revenues, and provides longer-term revenue visibility.
"Long-term partnerships such as this are central to our strategy," said Craig Brocklehurst, Vianet CEO.
Vianet, a provider of actionable data, business insights and payment solutions, highlighted that the renewal reinforces its position as a trusted technology partner in the UK hospitality sector, and underpins the board's confidence in its recurring revenue profile and medium-term growth prospects.
The five-year extension follows almost two decades of engagement with Admiral Taverns, and the company said it supports Vianet's stated focus on investing in advanced data analytics and AI-driven insights to help customers improve operational performance.
