California-based RedAwning announced it acquired channel manager Lexicon Travel Technologies. Terms of the deal were not disclosed.
Channel managers have tech systems to assist accommodations in distributing their properties to websites such as Airbnb, Vrbo and Booking, and sometimes to global distribution systems, among other outlets.
“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 has a portfolio of some 15,000 managed and independent short-term rentals in North America, and already provides channel management services as it places them on websites such as Vrbo, Booking.com, Expedia, Homes & Villas by Marriott International, and Google Travel.
RedAwning hopes to pick up the channel management client roster of Lexicon Travel Technologies, which is headquartered in Park City, Utah. RedAwning is buying Lexicon’s channel management tech.
RedAwning said most of Lexicon’s clients have already related their intentions to use Red Awning for channel management.
“The transitions will be seamless for all of our new clients, as RedAwning already supports all of the same PMS (Property Management System) platforms as Lexicon and all of the channels too, as well as many more for Lexicon clients to join,” said RedAwning CEO Tim Choate in the announcement.
Earlier this week, property management tech company TravelNet Solutions said it acquired Rented, a revenue management company focusing on short-term rentals.