EAGLE, IDAHO - LiveRez.com, the most widely used cloud-based software for professional vacation rental managers, released multiple pieces of new technology last week at its annual user conference.
New products included a next-generation mobile work order app and a channel management system powered by NextPax that allows companies using LiveRez to seamlessly integrate with more than 300 major booking portals worldwide.
Chief among the announcements, however, was a new technology called the LiveStay Network (LSN) that empowers LiveRez users (called partners) to work together on a massive scale by listing each other's inventory, referring bookings and earning commissions.
With the announcement of a channel manager and its LSN technology, LiveRez will give its partners the ability to potentially list and get bookings through well over 1,000 different websites.
"To this point, we've kept our heads down and focused on building out our core management software, while educating our partners about building their own brands and protecting their data," said Tracy Lotz, LiveRez founder and CEO. "But last year, we committed to build a channel manager. And, with this announcement, we've gone from the software with the fewest amount of integrated booking portals to the one with the most – and by a wide margin."
Since launching in 2008, LiveRez has evolved into the fastest-growing and single largest software in the industry. And Lotz is confident that the timing behind the launch of this new technology will not only help the network grow faster but also stronger.
"The size of our network and the efficiencies of all our partners using the same technology is what has made the LiveStay Network possible," Lotz said. "While others in the industry could attempt to duplicate this technology, it's the size and strength of our network that will really drive the success of this initiative."
The LSN technology, while still in beta, has already generated promising results with only a small network of testers using it. Once expanded to a larger base, the company expects it to grow into a major source of bookings for its partners and a way for many of them to generate revenue year-round, even in their slow seasons.
The technology works by allowing professional managers, through a digital handshake, to agree to list one or more of each other's properties. A shared guest review system that has ratings for both managers and individual properties allows partners to decide which managers and properties to work with.
When guests book, property-specific branding will indicate that they are booking with a partner company. The bookings will flow directly into the reservation system of the partner that manages the property, keeping them merchant of record. Both partners will have access to the guest information, as well as reports that indicate which bookings were generated through LSN, by which partners, and how much commission they have earned.
The concept of the LiveStay Network will translate into the company's guest app, which currently allows travelers to download one app and use it to manage their stays with any partner in the network.
Down the road, Lotz said he envisions LiveStay growing into a recognizable affiliation standing for consistent standards of excellence.
"As a network, we have an opportunity to define what it means to offer exceptional guest experiences,"Lotz said. "We can set a consistent standard that travelers will recognize and that enhances each participant's individual brand."
