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Multi-dimensional data storage
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...
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Improve Pricing with Machine Learning
In our blog on big data, we learned what it is, how it is sourced and how hoteliers can utilize its insights to improve their revenue strategy.  Those important, revenue-improving insights wouldn’t be possible without the predictive capabilities of machine learning. What is machine learning? In its simplest form, machine learning gives computers the ability to...
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Big datas influence on hotel pricing
Big data can be a powerful resource for driving effective rate strategy. By harnessing the predictive capabilities of big data analysis we can power smarter revenue decisions for hotel owners. You may be thinking that big data is overkill for your hotel, perhaps too complicated or pricey to even consider. If there is variation in a customer’s...
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LodgIQ at HITEC and ROC 2016
Our team is gearing up to head to New Orleans for HITEC and HSMAI’s Revenue Optimization Conference. We’ll be located at HITEC booth #1552 and ROC booth #10 if you would like to stop by and see us, or arrange a meeting in New Orleans during your stay. You can also follow coverage of the...
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user experience Venn diagram
Think about the technology that you enjoy using most. What are some of the key features that help make your experience great? Do you get a quick response when you click something? Is it laid out in a way that is intuitive to you? You’re likely unable to pinpoint any specific aspect, you just know...
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hotel revenue management success
If you pay attention to trends in hotel technology marketing, you may have noticed a real surge in content marketing campaigns from a wide variety of suppliers, using ‘revenue management’ keywords extensively throughout their published articles. Whether the solution is a property management system (PMS), housekeeping management or a digital marketing platform, there are certainly...
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tactics to drive direct booking
The average consumer has more purchasing intelligence available to them than ever before. You’ve probably heard this approximately 856 times in the last six months. And while the statement is true, it is just vague enough to not have any real impact. According to an Expedia report, consumers visit 38 sites before booking. That kind...
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hotel distribution online
Chains and independent hotels have at least one thing in common: to sell hotel rooms you must be visible within online booking channels. To achieve this visibility, hotels have to meticulously curate their own direct booking channel, as well as participate in the same third party channels as their competitors. As new booking channels emerge,...
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Vacation rentals impact on hotel revenue
Vacation rentals have the hospitality industry in an uproar lately and for good reason. Recent reports indicate that vacation rentals, like Airbnb, are taking their toll on the average daily rates of hotels in larger metropolitan areas. According to STR data, NYC hotel rates dropped by 1.7{97f5de9008dbce478b9914384118bb17bc275beb18053f10d4c63e347dc71139} in 2015, the first drop recorded since 2009....
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The current state of revenue management systems is stationary. Maybe even a bit stale. Offering up the same data sets and relying on the very manual process of traditional revenue management to fill in the data gaps. The problem with this process is that every property is unique and buying behaviors are driven by factors...
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