Lybra, developer of the Assistant RMS, an advanced, machine learning, demand-centric RMS, announced a two-way integration with OTA Insight’s Rate Insight, a cloud-based data intelligence platform for the hospitality industry. As part of the partnership, Rate Insight’s current, historical and future rate data will be integrated into Lybra’s Assistant, enabling the RMS to seamlessly and automatically provide OTA Insight’s hotel clients with the most accurate real-time price suggestions, as market conditions change.
Unlike traditional RMS which rely primarily on historical data (in establishing room rates), Lybra’s Assistant RMS prioritizes market and competitor data, making it the only solution that can provide hotels with accurate room rates during this unprecedented time; now this partnership with OTA Insight makes the Assistant RMS even more powerful. OTA Insight’s solution monitors demand in real-time to empower revenue manager and hoteliers to identify new opportunities for revenue generation; the real-time data automatically triggers the calculation of new price suggestions in the Assistant RMS and provides hoteliers with specific, actionable recommendations on changes that can be made to improve the property’s bookings and revenue.
“Hotel revenue management technology has evolved out of necessity; guests’ perception of value, the increased frequency of price changes and dynamic destination cluster demand means that any RMS that ignores these data points will become obsolete,” said Erik Muñoz, Chief Commercial Officer of Lybra. “Lybra’s Assistant offers an innovative approach to revenue management, as the algorithm is designed to optimize these necessary data elements; by adding the destination-specific, segmented demand insights, provided by our partner, OTA Insight, Lybra is able to offer even greater flexibility and choice for hoteliers worldwide.”
“This partnership is a powerful combination for all hotels around the world,” said Aida Llamas-Fernández, Senior Business Development Manager, Southern Europe at OTA Insight. “In today’s uncertain times, real-time data is key in determining the right price, at the right time, for the right channel. Accurate, real-time, destination-specific data, combined with Lybra’s machine learning, demand-centric Assistant RMS, will provide revenue managers and hoteliers with the best data available to take advantage and act first before competition.