DESTINATION AND TOURISM,INDUSTRY OUTLOOK
RedAwning | November 21, 2022
RedAwning, the only complete marketing, distribution, reservations and hospitality platform for property managers in North America, announced the acquisition of the business and client base of Lexicon Travel Technologies, the best performing channel manager in the US.
All of Lexicon’s clients and partners are being offered the opportunity to join RedAwning’s robust and comprehensive platform, expanding their distribution reach and benefiting from additional marketing and management services, while maintaining the foundation of great service that Lexicon has built.
“We are delighted to join forces with the impressive team at Lexicon and expand our platform to hundreds of new clients with thousands of properties,The transitions will be seamless for all of our new clients, as RedAwning already supports all of the same PMS platforms as Lexicon and all of the channels too, as well as many more for Lexicon clients to join.”
-Tim Choate, CEO of RedAwning.com.
After we made the decision to sell our business, we looked for a company that would create true synergies with our existing value proposition, said Joel Inman, CEO and Founder of Lexicon. As I got to know the RedAwning platform, I realized they have already solved many of the technical challenges Lexicon has been facing. RedAwning brings true technology and automation to channel management that delivers value through higher conversion with essentially zero manual work.
RedAwning’s comprehensive platform approach to channels vastly outperforms traditional channel management approaches due to RedAwning’s focus on what happens after connectivity to improve actual performance of property listings in each channel. From copy and policy optimization to revenue management to declined credit card handling and instant automatic publishing on all channels, RedAwning’s platform offers a more powerful and much more efficient model for property managers of all sizes to succeed everywhere guests shop for travel.
One of our exciting discoveries with the team at Lexicon is that RedAwning outperforms the bookings per client across thousands of listings on each channel by an average of 37% as compared to Lexicon’s strong clients doing all of the work themselves. We truly offer much more revenue for much less work, and this data is proof of our impact, said Tim Choate, CEO of RedAwning.com.
Most of Lexicon’s top clients have already agreed to join RedAwning in this transition and the company seeks to offer a seamless transition to more revenue with less work to all of the remaining clients, too.
RedAwning is the short-term rental industry’s only complete marketing, distribution, reservations, and hospitality platform. RedAwning presents one of the world's largest collections of vacation properties to guests wherever they shop for travel. With over 15,000 properties represented on behalf of thousands of independent and professional hosts, RedAwning covers virtually every leisure destination in North America, and includes a comprehensive layer of exclusive services and support with every stay. RedAwning is one of the largest single U.S. vacation rental suppliers to every major travel website, including Airbnb, Vrbo, Booking.com, Expedia, Homes & Villas by Marriott International, Google Travel, and many more. RedAwning also operates exclusive vacation property booking websites, including RedAwning.com for travelers, and RedAwning TravelPro, which enables 20,000 travel agents to book vacation properties.
RedAwning has been a leading innovator in the vacation rental industry since 2010, with a mission to redefine the customer journey for the benefit of guests, hosts, and property managers alike, and to drive innovative approaches that make the booking and staying experience at short term rental properties more consistent, easier, safer, and better for all.
TRAVEL TECHNOLOGY,COMMERCIAL TRAVEL
Paysafe and Virgin Voyages | November 30, 2022
Paysafe (NYSE: PSFE), a leading payments platform, announced a partnership with Virgin Voyages, Richard Branson’s lifestyle travel brand focused on delivering irresistible cruise vacations for adult travelers. Paysafe will ensure travelers can quickly and securely pay online for their next cruise with Virgin Voyages, whose payments risk will also be mitigated by Paysafe’s bespoke travel solution.Whether booking an opulent Virgin Voyages cruise in the Caribbean, Europe, or the South Pacific as well as Transatlantic crossings, travelers can now use their credit card to pay online to book their exclusively adult seabound vacation through Paysafe, with all transactions processed seamlessly. With 20+ years’ card-not-present payments’ experience, including for travel merchants, Paysafe will allow Virgin Voyages to better serve its global customer base by accepting payments in multiple currencies besides the U.S. dollar.
The relatively high-risk nature of cruise travel payments – with cruises often booked many months in advance of travelers’ setting sail – will be mitigated by Paysafe, which has deep expertise in risk management for travel merchants. Paysafe’s custom risk product for Virgin Voyages leverages Mastercard’s T&E Risk Monitor, which is powered by Actuary, to provide the merchant with full transparency on the holdback and release of funds for processed ticket sales, ensuring effective credit risk management.
Paysafe will also help Virgin Voyages negotiate the issue of fraud and chargebacks through its dedicated in-house risk and chargeback teams. In addition, a Cruise Line Relationship Manager at Paysafe will enable Virgin Voyages to overcome specific payments challenges.
“We’re delighted to partner with Virgin Voyages, the latest venture from the iconic Virgin Group and its co-founder Richard Branson. We look forward to supporting this unique travel brand’s growth by leveraging our travel payments experience to facilitate the reservation process for Virgin Voyages and its customers.”
-Afshin Yazdian, President of Merchant Solutions at Paysafe
John Birdsall, Senior Director of Corporate Accounting at Virgin Voyages, commented: "Virgin Voyages is strongly focused on giving our Sailors the vacation of a lifetime, and this covers every aspect of their experience including booking their trip and making safe and secure online payments. Our partnership with Paysafe has helped create a smooth and seamless process."
About Paysafe Limited
Paysafe (NYSE: PSFE) (PSFE.WS) is a leading payments platform. Its core purpose is to enable businesses and consumers to connect and transact seamlessly through industry-leading capabilities in payment processing, digital wallet, and online cash solutions. With over 20 years of online payment experience, an annualized transactional volume of over U.S. $120 billion in 2021, and approximately 3,500 employees located in 10+ countries, Paysafe connects businesses and consumers across 100 payment types in over 40 currencies around the world. Delivered through an integrated platform, Paysafe solutions are geared toward mobile-initiated transactions, real-time analytics and the convergence between brick-and-mortar and online payments. Further information is available at www.paysafe.com.
About Virgin Voyages
Virgin Voyages is a new lifestyle travel brand focused on delivering irresistible cruise vacations. Scarlet Lady and Valiant Lady - the first and second ships in the fleet - were designed to reflect a yacht’s sleek luxury, offering the intimate, elevated experience of a boutique hotel at sea. Featuring spaces designed by some of the top names in contemporary interiors, our Lady Ships are exclusively adult, a sanctuary at sea for the 18+ traveler. A dose of Vitamin Sea is naturally intertwined across the entire ship, with well-being, relaxation and rejuvenation at the forefront. Our fleet sails to 100 of the world's most incredible destinations with 25+ unique itineraries across four continents. Each sailing offers alluring entertainment and Michelin-inspired menus served across 20+ world-class eateries. With a modern twist on luxury, coupled with discerning design, Virgin Voyages offers incredible value for its Sailors, including food, essential drinks, WiFi and group fitness classes, all covered in the voyage fare.
TRAVEL TECHNOLOGY,COMMERCIAL TRAVEL
Sabre Corporation and Trava | November 17, 2022
Sabre Corporation (NASDAQ: SABR), a leading software and technology provider that powers the global travel industry, announced a new Premium Solution Partnership with Trava to help automate post-booking processes for travel sellers.
Trava is the latest company to partner with Sabre on the Premium Solution Partnership, joining its network, and enabling Sabre-connected travel agencies to find and utilize partner solutions to support their specific business needs and requirements.
With this partnership, Trava will deliver its solutions and preferential commercial terms to Sabre customers in North America and EMEA. Trava provides travel companies with a GDS-agnostic 'no-code' process automation solution, allowing Sabre customers to seamlessly create and manage sophisticated post-booking workflows. Trava solutions deliver enhanced efficiency and scalability, typically reducing the manual time by +70% while increasing profit by around $5 per PNR.
"In today's dynamic travel marketplace, it is crucial that the entire travel ecosystem is coming together to accelerate recovery, create opportunities for future growth and ensure that the ever-increasing expectations of the end traveler are met and exceeded, We're delighted to welcome Trava as a Premium Solution Partner and together, we can help agencies to streamline their daily manual processes, increase profits and concentrate on creating enhanced traveler experiences."
-Marcus Pinedo, Vice President, Partner Solutions for Sabre Travel Solutions.
Trava's solution automates vital post-booking processes such as queue management, travel disruptions, refunds, exchanges, unused tickets and ticketing - all supported by powerful revenue boosting as well as client communication tools and self-service features.
Travel companies are rethinking the way they manage their operations. Automation is vital to achieve higher levels of efficiency and scalability in the post-booking area, says Maxim Sevastianov, Trava's CEO and Founder. "With travelers expecting a more personal experience than ever before and the entire travel industry facing staffing challenges, automation and self-service are key. With Trava, travel companies free up employee time, enhance their customer experience and at the same time, increase profitability. We're proud to be working in partnership with Sabre and excited about how we can deliver huge value to more Sabre-connected travel companies around the world.
About Sabre Corporation
Sabre Corporation is a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. The company provides retailing, distribution and fulfilment solutions that help its customers operate more efficiently, drive revenue and offer personalized traveler experiences. Through its leading travel marketplace, Sabre connects travel suppliers with buyers from around the globe. Sabre's technology platform manages more than $260B worth of global travel spend annually. Headquartered in Southlake, Texas, USA, Sabre serves customers in more than 160 countries around the world. For more information visit www.sabre.com.
Trava is a travel technology company, focusing on automation of post-booking processes within a travel agency and improvement of their bottom line. The company provides travel companies with a GDS-agnostic process automation solution, enabling them to seamlessly create and manage sophisticated workflows related to post-booking processes in GDS and mid-office systems. Thanks to the intuitive and extremely versatile web interface, requiring minimal technical background, customers can leave the technology to Trava and concentrate on what they do best.