LodgIQ is a hotel revenue management platform that incorporates advanced machine learning, modern design and user experience principles, and proven price optimization tools.
LodgIQ takes an integrated approach to revenue management – from both the data and human perspectives. Taking an outside-in approach, it ingests information from a wide range of sources relevant to each individual property including competitor analysis, historical data, flight information, news, social and weather data. The feeds are analysed through 5 different algorithms and presented to the hotelier through an intuitive dashboard.
While an organisation’s expertise in revenue management may rely on a team or select individuals, the team at LodgIQ believe effective revenue management requires a focused culture extending to all roles within the business through effective communication, understanding and collaboration.
The user in mind:
LodgIQ have therefore taken a user-focused approach to revenue management to ensure the impact of the revenue management process extends beyond the revenue manager – from the operational team to the property GM, corporate revenue management team, sales and marketing leaders and all the way to the top or the organisation.
In a world where usability is virtually as important as functionality, LodgIQ places a high emphasis on the ability of the user to understand, collaborate and implement the intelligence provided by the application.
The user interface is designed by UX experts and features an intuitive interface. The clean, clear dashboards, uncluttered layout and colour schemes encourage the user to drill down into “I want to know why” actions.
Collaboration is key:
But it’s the collaboration abilities of the solution that delivers the real benefits. While data can provide an insight, decisions are required to be made by people. Inputs from different areas of the business can often provide a more comprehensive and strategic decision-making process.
The speed at which decisions are made may also be an important factor in many businesses moving from monthly, to weekly, daily and even spontaneous adjustments can assist to maximise yield not only in the sale of rooms, but across conferencing, leisure and food and beverage operations. The LodgIQ solution provides collaboration functions, enabling users to drag and drop manager profiles around the application to seek feedback, input or decisions on the data presented.
Snapshotting also allows important point in time comparisons, such as those caused by economic, environmental or social impacts. These functions allow revenue managers, operations and executives to efficiently compare movements to comparable periods in time and to make more informed decisions.
Taking a user-focused approach to revenue management, LodgIQ enables team collaboration and decisions making, supported by an all encompassing view of the forces at play on supply and demand. The application integrates the revenue management process into the management processes of the organisation, ensuring that revenue management is an integral part of the business, not the function of a single decision-maker.
