This is part 2 of our smart hotel pricing series where we interview Fabian Bartnick, vice president of Asia-Pacific for LodgIQ. In this podcast Fabian discusses the effectiveness of older pricing strategies in modern revenue management. We also learn an interesting fact about ADR and sentiment pricing. Listen to Part 1. Prefer your news all at once?...Continue Reading
No matter a hotel’s size, a strong revenue management program is essential. Without one, it’s like playing a game of darts in the dark. You know the bullseye is out there somewhere, but finding it becomes near impossible. Yet, we still hear the same old excuses from hoteliers resistant to change. But while excuses feel...Continue Reading
To successfully compete, revenue management systems (RMSs) are an essential tool for effective and efficient room pricing. It’s no longer an issue of whether one is needed, but in which one will you invest. Yet, not all RMSs are created equal, especially in terms of forecasting. That’s because many products on the market are rooted...Continue Reading
Welcome back to part 2 of our Machine Learning in Revenue Management podcast. In this interview, Somnath Banerjee, CTO of LodgIQ, reveals the many applications of machine learning that are already in use all around us, even in places we may not expect. You can revisit part one here. Got a question about machine learning? Ask...Continue Reading
In part 1 of this podcast, we interview Somnath Banerjee, CTO of LodgIQ, to learn more about the origins of machine learning and how it is being applied in revenue management technology to make intelligent pricing recommendations. Listen to part 2 here. Prefer your news all at once? Sign up to receive revenue-related news...Continue Reading
With a daunting number of revenue management systems (RMS) available on the market, it’s a massive challenge to fully understand and appreciate the differences of each one. But finding the right platform for your hotel that helps you achieve your financial goals doesn’t have to be excessively complicated; that is, if you know what to...Continue Reading
LodgIQ ONE harnesses the power of LodgIQ’s patented market-based forecasting and optimization algorithms and machine learning platform, and completely eliminates any dependencies on PMS or CRS connectivity. LodgIQ ONE is particularly suited for hotels with less complex operating environments, whether independent or branded, select-service or full-service, and can be self-launched by any hotel, in any...Continue Reading
In our LodgIQ RM Corner series, our readers get an inside look into the minds of revenue managers and their thoughts on the industry from around the globe. Today we interview Kieran Spencer, Director of Sales, Marketing and Revenue for Punthill Apartment Hotels, a portfolio of 13 properties located in Australia. What are the major...Continue Reading
Top executives from the American and global hotel industry gathered in Phoenix, Arizona during the waning days of September for an annual get together of some of the industry’s most influential people. And in our speaking with them we learned about relevant trends and challenges for the lodging industry. Every uncovered trend reinforced the need...Continue Reading
