The Urban Newtown Hotel Selects LodgIQ as Their Revenue Management Technology Provider
New York, NY – September 14, 2016 – The Urban Newtown Hotel, a 79-room, 4-star hotel in the inner-west Sydney (Australia) suburb of Newtown, has implemented the LodgIQ RM revenue management system (RMS). Using LodgIQ’s sophisticated, Machine Learning-based RMS will help the hotel to optimize their pricing and more effectively manage inventory.
The LodgIQ RM is a self-learning, self-calibrating, deep Machine Learning RMS that extracts intelligent revenue insights through the deep analysis of Big Data, including data points such as market demand, flights, review scores, events, relative positioning, guest shopping behavior and real-time news. Machine Learning technology enables LodgIQ’s solution to continue learning from the data that it collects, which improves the accuracy of the pricing calculations generated.
When beginning their search, The Urban Newtown Hotel was looking for a solution that would collect and analyze pricing data from all of the online competition – including both hotels and peer-to-peer accommodations but also a solution that would provide insights to the revenue manager and the wider team. In addition, the hotel’s management team wanted to enable the revenue manager to focus more on strategic, inter-departmental planning, rather than on time-consuming manual pricing calculations.
“We were very impressed by LodgIQ’s RM system,” said Jude Kumar, Revenue Manager at The Urban Newtown Hotel. “It has the best user interface we have seen out there and makes it easy to quickly access the data, pricing recommendations and macro information that we need. It provides us with automated pickup, pace and much more so we can throw away our excel spreadsheets – something that we are really excited about!”
“Sydney as a market is operating at an incredible pace and hotels need to act fast to succeed day in day out as they face a great deal of competition,” said Fabian Bartnick, Vice President Asia-Pacific at LodgIQ. “Our RMS will give The Urban Newtown insights into market behavior through our outside-in forecasting approach and therefore see market trends before their competition does. This means faster and more accurate action when the market changes – giving The Urban Newtown the competitive edge”
To find out more about the new partnership or LodgIQ’s Machine Learning-based RMS, please contact Fabian Bartnick at showme@lodgiq.com.
About LodgIQ
LodgIQ is a start-up dedicated to providing advanced revenue optimization technologies to the travel industry. Their breakthrough next-generation revenue optimization platform, LodgIQ RM, was developed by seasoned travel executives and Silicon Valley technologists.
Built around a multi-source big data eco-system, LodgIQ RM combines sophisticated machine learning with an intuitive and powerful user interface to deliver advanced recommendations and actionable analytics. The platform is designed to think, learn and morph with each user’s unique clickstream enabling the user to make optimal revenue decisions. LodgIQ has headquarters in New York City, and maintains offices in Silicon Valley and Bangalore.
About The Urban Newtown Hotel
The Urban Hotel – Newtown is a 79-room boutique hotel with a year-round operating mode located in the posh and cosmopolitan area of Newtown. Our hotel offers boutique accommodation with an industrial style nestled in the heart of funky Newtown… Sydney’s cultural melting pot.
Fronting a lively street in the inner-west suburb of Newtown. Our industrial-chic studio suites come with free Wi-Fi and flat-screen TVs, as well as kitchenettes and rainfall showerheads. Upgraded suites add living areas with sofabeds; some include bunk beds. There are also 2-bedroom apartments.
Our boutique studio rooms, combined with industrial design will ensure that your corporate stay will differ from the rest. Just a stone’s throw from Sydney, you’ll be within walking distance of the vibrant and entertaining King Street, numerous boutique eateries and some of the best food and coffee around.
For media inquires only, please contact North 6th Agency, lodgiq@n6a.com, 212.334.9753.
