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
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
We get it, being a revenue manager is a tough job and it’s not getting easier. But we know you’re passionate about it. So are we. LodgIQ is a home to many former revenue managers, and we’ve challenged ourselves to find new ways to make your job easier, more productive, and more profitable for your...Continue Reading
Massive amounts of data are being created daily, more than ever before; and without the right tools it’s impossible for any single person to make sense of it all, let alone turn that data into something usable. Commonly known as big data, it’s a simple name belying the complexity of the modern information age. Big...Continue Reading
