Lanyon raises $10m, to launch automated rate integrity product

Irving, Texas-based Lanyon is reportedly planning to launch a new offering to help travel buyers overcome challenges related to hotel rate integrity, including improper rate loading in global distribution systems.

The new offering is expected to be launched in January. 

According to a report filed by management.travel, the tool is called Rate Bookability. Lanyon chief commercial officer Michael Boult said that Lanyon’s automated rate integrity product will enable corporate customers to create a customised review window, check all preferred rates and send automated emails to the properties noting what days they failed to offer the rate and in what GDS.

Earlier this month, the company had raised $10 million in expansion funding from Frontier Capital.

Lanyon has also signed a multi-year agreement with Golden Tulip Hospitality Group and Louvre Hotels. Lanyon has been selected to provide the common RFP platform structure that enables the two groups to efficiently manage their contracting process and leverage their distribution activities across their two portfolios.