US-based cloud-based hospitality platform HotelKey has teamed up with OTA Insight, a provider of cloud-based hospitality business intelligence, to enable hotels access to rate data and actionable insights that will help them take more effective pricing decisions.

By bringing together automation and essential data, the partnership will enable hotel leaders and commercial decision-makers to effectively optimise their strategies and bring important data all in one place.

Furthermore, the partnership rolls out new API capabilities including OTA Insight’s data API, drawing on a daily stream of two billion rate data points.

This collaboration also provides hotels with insights on various aspects such as parity, demand, search, review and ranking APIs. On-the-books (OTB) and benchmark APIs will be rolled out soon.

HotelKey CEO and co-founder Fareed Ahmad said: “We are happy to partner with OTA Insight to bring uniquely powerful competitive pricing and strategic planning capabilities to our partner hotels.

“OTA Insight is a leading provider of competitive pricing data in the hospitality industry and together we are excited to help hoteliers set more effective rates to create efficiencies and drive revenue.”

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OTA Insight chief revenue officer Dave Collier said: “HotelKey’s innovative suite of products solves the most complex and evolving challenges in the hospitality industry.

“Our new collaboration equips operators with powerful tools tailored to meet their needs. We are excited to further expand the partnership in the future.”

The two entities will continue to build on their current capabilities as new APIs are launched in the future.

Among the APIs considered to be rolled out in the future include a feed to offer OTB view in real-time within rate insight as well as APIs to share market demand data and benchmark data with HotelKey.