innRoad Acquires LTV Hotel Systems
innRoad Inc. has announced the acquisition of LTV Hotel Systems LLC, a revenue management software research and development company, for an undisclosed amount.
The acquisition adds sophisticated real-time revenue management to innRoad and its integrated suite of hotel software solutions. innRoad now delivers instantaneous room price optimization: a dynamic analytical advantage to secure the highest ADR at the highest occupancy.
The result is a first-of-its-kind: a hotel management SaaS solution with Property Management, Global Distribution, Revenue Management, Marketing and Reservations Booking all on one platform.
Dr. Anil Lahoti, CEO and President of LTV Hotel Systems LLC, will join innRoad as VP of Research and Development to oversee assimilation of the Revenue Management System and to continue new product development. Co-Founder of the company, Dr. Garrett van Ryzin will lead continuous improvement of the real time revenue management system.
“The acquisition of LTV and its unparalleled technical expertise is an example of innRoad’s commitment to independent hotels, which have been underserved by the industry for too long” says Murat Ozsu, CEO and Founder of innRoad Inc.
Anil Lahoti of LTV adds, “The merger of LTV’s sophisticated revenue management system with innRoad is another remarkable feather in the cap of seamlessly integrated solutions.”
Revenue management has been historically limited to large hotel chains due to the high costs of trained RM analysts and customized software systems and maintenance. The SaaS online model allows small and medium sized hotels to outsource this expertise, avoiding the up-front costs of hiring, training, and hardware. Instead, client properties pay a small no-risk monthly fee to access decision-making data from anywhere in the world, gaining control of their property to sell the right rooms at the right price to the right people all day, every day.