The alliance will provide a seamless interface between the airline's revenue management system and the Internet. LastMinuteTravel.com and PROS are building an e-commerce pipeline that connects PROS data and subscribing airlines to LastMinuteTravel.com's innovative web site. By exploiting this digital onramp to the Internet airlines can automatically post their unsold, just-released inventory on LastMinuteTravel.com, or their own web site, without a time delay or extensive manpower.
"The partnership between LastMinuteTravel.com and PROS is revolutionary for the industry. It builds the first Information Super Runway," said David Miranda, CEO and founder, LastMinuteTravel.com. "We have listened to the airlines and we worked to develop a solution to an industry problem -- the time lag between an airline's knowledge that it has unsold inventory and the ability to market that inventory while it's still fresh."
"The LastMinuteTravel.com business model provides a compelling high value proposition to the airline industry as well as the traveling consumer," said Berl Winemiller, President and CEO of PROS Revenue Management. "PROS is very pleased to provide the science-based, enabling technology to select inventory and seamlessly integrate it with the LastMinuteTravel.com website."
LastMinuteTravel.com's agreement with PROS creates a unique and proprietary position for the site in the e-commerce marketplace. "LastMinuteTravel.com is the exclusive place for consumers to have access to the 'freshest' inventory available anywhere," explained Miranda. "A consumer can come to the site and comparison shop among many airlines' just released inventory as well as 500 additional travel and entertainment providers and have immediate, real time access to just-released inventory."
Founded by travel industry marketer, David Miranda, in April 1997, LastMinuteTravel.com is the first Internet-based enterprise that specializes in just-released travel and entertainment inventory. LastMinuteTravel.com has created an "eMediary(TM) marketplace, where motivated sellers can tarqet last- minute consumers in the most timely, efficient and cost effective manner available.
Consumers conveniently shop from the dynamically updated listings at LastMinuteTravel.com and when ready to book, they are connected directly to . Unlike many other travel sites today, LastMinuteTravel.com charges no commission or transaction fees, saving both consumers and travel providers money.
In addition, LastMinuteTravel.com offers the services of 'My Travel Minder(TM),' a free e-mail alert that automatically notifies customers when their requested travel and entertainment options become available. My Travel Minder continues to work as a personal travel planner -- even when the customer is not logged on the site. For more information, please visit the company's site at www.LastMinuteTravel.com .
PROS Revenue Management is the world's leader in revenue management science and the pioneer and dominant provider of yield management(RM) to the airline industry. PROS provides system solutions to the airline, cargo, rail, energy, healthcare, and broadcast industries, and has delivered over 170 systems to more than 70 clients in 25 countries.
The PROS mission is to maximize the revenue of each client using PROS' world-leading revenue management science, systems solutions, and best practices business consulting. PROS clients have typically achieved annual revenue growth of 2-8%. As an ebusiness applications provider, PROS solutions forecast demand, optimize inventory, and provide dynamic pricing to maximize revenue.
Founded in 1985 in Houston, PROS Revenue Management has had a five year compounded revenue growth of 40% in large part due to the intellectual capital of its staff. Fifty percent of PROS employees have advanced degrees and cumulatively speak 32 languages. For more information on PROS Revenue Management please visit www.prosRM.com or call 713-335-5813.