Silicon Valley-based LodgIQ™, the AI-powered revenue management technology provider, announced that it has appointed hotel industry veteran Chris Connar to the key role of Vice President of Business Development. In this newly created position at LodgIQ, Chris is responsible for driving strategic new business to support the company’s strategy. Chris Connar is an accomplished and...Continue Reading
If you’ve scanned through the top news stories of the last few months, you’re likely well acquainted with the post-pandemic elephant in the room: record-high inflation. As expected, the collective (and prolonged) halt of global economies, the subsequent critical supply chain disruptions, and the ongoing war in Ukraine has placed significant pressure on the economic...Continue Reading
The truth is that you will need a higher-level pricing strategy for today’s competitive marketplace and the flexibility to make changes when needed. Price optimization and revenue management are the most prominent aspects that any business needs to address. While the hotel industry is truly unique, when it comes to price optimization, there’s a lot...Continue Reading
If you ask any hotelier these days, “What is your focus now that demand for travel is returning?”, invariably, their answer will allude to improving pricing strategy and sales and enhancing revenue management capabilities. Why? Because the hospitality industry grapples with extremely high customer acquisition costs – one of the biggest challenges facing hotels of...Continue Reading
In this podcast, LodgIQ’s Fabian Bartnick and Glenn Haussman, host of No Vacancy podcast, discuss the evolution of data analysis. Be sure to check out the first part of this discussion. The analysis of data is an evolution. Revenue managers must first understand the basics provided by descriptive and diagnostic analytics to fully understand and utilize...Continue Reading
In this podcast, LodgIQ’s Fabian Bartnick sits down with Glenn Haussman, host of No Vacancy podcast, to make the case for data driven revenue management. We ask one important question: Is revenue management via Excel spreadsheet alone still effective? We’ve spoken a lot about how buying behaviors and demand factors are evolving, but let’s speak...Continue Reading
Predictive and prescriptive analytics are the focus of Machine Learning 401. Here are Machine Learning 101, 201, and 301, in case you missed it. If you made it this far, congratulations. You’ve learned a lot, but here’s where it starts to get tricky. This is where predictive and prescriptive analytics come into focus, two areas in which modern revenue management...Continue Reading
Analytics is the focus of Machine Learning 301. Here are Machine Learning 101 and 201, in case you missed it. Analytics are a valuable tool to finding new ways to generate more hotel revenue. But to fully impact hotel profit with technology, different types of analytics must be leveraged. Not all analytics are created equal, especially when it comes to...Continue Reading
In Machine Learning 201 we explore the role of data patterns in modern revenue management strategies. Here’s Machine Learning 101, in case you missed it. Patterns rule the world, but understanding them, and using them to our advantage was previously complicated, if not outright impossible. But modern revenue management trends are proving that all is revealed...Continue Reading
One of the biggest buzzwords of the modern age is “machine learning.” It certainly sounds cool and futuristic, but what is it, and how is it relevant to the hotelier’s life? We’ll answer that in this educational blog we’ve playfully named Machine Learning 101. Simply put, machine learning is the ability for a computer to...Continue Reading
