Leading management platform for the short-term rental industry, Lexicon Travel Technologies, and Key Data Dashboard, a leading provider of data and business intelligence for short-term rentals, have entered into a strategic partnership as part of Lexicon's new revenue management service.
This partnership boasts a force to be reckoned with in the proptech sector. Lexicon is one of the first to bring complete revenue management as a service to the sharing economy with the help of Key Data Dashboard integrating with the best channel management practices and actionable revenue management principles for the vacation rental market.
Joel Inman, Founder and CEO of Lexicon said:
"Key Data is a crucial tool for any property manager looking to compete. 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."
With this combined endeavor, the two tech giants aim to help property managers create more revenue through more transparent pricing and offer better market decision-making information gathered using big data.
"Last year, we developed a Revenue Strategist team that has proven real world experience specific to revenue management within the STR industry. 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.
Jason Sprenkle, CEO at Key Data Dashboard said:
"Key Data has formed many great partnerships over the last year to focus on revenue management. 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."
SOURCE Lexicon Travel Technologies
Edited by V. Haviland