Connectivity is the most important factor in a revenue management system’s success and efficacy, as the accuracy of the pricing offered by their algorithms relies on the quality of the data that they receive from hotels’ property management systems (PMS).
In the last three months, Lybra – developer of the Assistant RMS, an innovative, machine learning, demand-centric revenue management system (RMS) – and a recent Zucchetti company acquisition, has finalized integrations and partnerships with many top hospitality technology companies, including OTA Insight, SiteMinder, Mews, Newhotel Software, Misterbooking, GuestPro, Clever Hospitality Analytics, as well as Zucchetti-owned companies, Simple Booking and Vertical Booking USA.
Connectivity is the most important factor in a revenue management system’s success and efficacy, as the accuracy of the pricing offered by their algorithms relies on the quality of the data that they receive from hotels’ property management systems (PMS). A property’s PMS holds information on all past reservations and, in real time, provide insight on upcoming reservations; in a PMS, reservations information includes basic details (i.e. price type and room type), the segment of customer, the source of reservation, among others.
All of this information helps the RMS algorithm recognize similar patterns over time, giving the solution the ability more accurately predict future behaviours. Reservation data, coming from the PMS, also enables the solution’s algorithms to learn about trends, seasonality, booking window and booking pace - very important information to have in order to create and implement an effective revenue management strategy.
The new integration between Lybra’s Assistant and leading PMS vendors expands the capabilities of the RMS, as the integrations to transfer reservation and pricing information, both ways, automatically, in real-time; therefore, increased connectivity means more accurate, real-time data, and with 32 current PMS connections (and more to be announced soon), that makes Lybra’s Assistant RMS a highly effective revenue management system, especially in a time of depressed demand.
The new partnerships with OTA Insights and Clever Hospitality Analytics are different but equally important; as a result of these partnerships, both companies’ hospitality industry data insights are integrated into Lybra’s Assistant RMS, enabling the RMS to seamlessly and automatically provide hotels with the most accurate real-time price suggestions, no matter how market conditions change.
Overall, the finalization of these high-profile integrations and partnerships demonstrate Lybra’s growing visibility and credibility in the global hospitality industry – a trend that will increase exponentially over the coming months, especially because of Zucchetti’s ongoing support.
To find out more about Lybra’s new partnerships and integrations, please visit lybra.tech/news/.