Lexicon Travel Technologies, the leader in channel management for the short-term rental industry, has announced a new partnership with Key Data Dashboard, the leading provider of data and business intelligence for short term rentals. The partnership is announced as part of Lexicon’s new revenue management service.
The partnership creates a potent pairing of technologies — one providing data insights and the other offering human intelligence, analysis and interpretation. Lexicon is the first to bring complete revenue management as a service to the sharing economy by combining Key Data Dashboard, channel management best practices, and actionable revenue management principles to the alternative lodging market.
“Key Data is a crucial tool for any property manager looking to compete,” says Joel Inman, Founder and CEO of Lexicon. “Data is king, but clients need proper analysis and interpretation to drive actionable and measurable results. We deliver that expertise to ensure our clients maximize their revenue potential.”
The partnership’s goal is to help property managers generate more revenue through clear pricing and market decisions informed by real data.
“Last year, we developed a Revenue Strategist team that has proven real world experience specific to revenue management within the STR industry,” says Inman. “Key Data will provide Lexicon with business intelligence and benchmarking tools so our team can deploy revenue management best practices to yield higher profits for our clients.”
Lexicon clients will gain access to Key Data’s real-time benchmarking tools and electronic data integrations, including insights into how their performance compares to their competitors. Access to Key Data’s entire suite of state-of-the-art revenue management tools, featuring views of 20-plus KPIs will be available as well.
“Key Data has formed many great partnerships over the last year to focus on revenue management,” says Jason Sprenkle, CEO at Key Data Dashboard. “It’s clear that Lexicon is really doing something different and valuable in this space. Their focus on education and results combined with their expertise in distribution will give property managers the edge to effectively use Key Data information to drive revenue. We are thrilled to be selected for this partnership.”