MarketIQ is an advanced market insight tool designed to provide comprehensive analysis and accurate forecasts for the hotel industry. By leveraging advanced data analytics, machine learning algorithms, and market research, MarketIQ delivers accurate information about the hotel’s market as a whole and/or at a neighborhood level, representing the data by various segments. The platform empowers hoteliers and industry professionals with actionable intelligence for informed decision-making and strategic planning.
LodgIQ collects and analyzes vast amounts of data from multiple sources, including industry reports, market trends, airline data, online travel agencies, and other relevant channels. It processes this data to extract meaningful insights and trends related to the hotel industry. These insights are presented in a user-friendly dashboard, allowing users to explore and compare data across different points in time for their neighborhood and segments.
The tool provides a granular view of the hotel market by breaking down data at the neighborhood level. Users can access detailed information about the performance of hotels in specific areas, including occupancy rates, average daily rates, RevPAR, and other key performance indicators. This enables users to identify high-performing areas and target their strategies accordingly.
MarketIQ categorizes market performance based on various segments, such as FIT, corporate, group, consortia, discount, government, and more. Users can delve into each segment to understand its performance, booking window, market share, and competitive landscape. This segmentation allows users to identify market gaps, explore niche opportunities, and tailor their offerings to specific target markets.
MarketIQ has accurate market forecasting capabilities, unlike any platform on the market. The tool utilizes historical data, market trends, and predictive analytics models to generate forecasts with 95% accuracy. Users can obtain future projections for key metrics like occupancy rates, ADR, and segmented market share. This feature assists hoteliers in making informed decisions regarding pricing, marketing campaigns, staffing planning, and expansion strategies.
LodgIQ provides in-depth competitive analysis by monitoring the performance of specific competitive hotels within the selected neighborhood/segment. Users gain insights into their competitors ‘ pricing strategies and positioning through integrations with 3rd party OTA Rate Shoppers and/or utilizing LodgIQ’s own embedded rate shopper. This information empowers hoteliers to benchmark their performance, identify areas of improvement, and implement effective strategies to gain a competitive edge.
MarketIQ offers customizable reporting functionalities, allowing users to generate detailed reports tailored to their specific needs. Users can select the desired parameters, metrics, and data points they want to include in the reports. These reports can be easily exported into Excel for easy sharing and collaboration.
MarketIQ goes beyond analyzing the hotel market by integrating flight data into its platform. By leveraging flight data from various sources such as airlines, travel agencies, and GDS, the tool offers a comprehensive view of the hotel market in conjunction with air travel patterns. This integration enables users to understand the correlation between flights and hotel demand, identify peak travel seasons, and uncover opportunities for strategic partnerships with airlines or travel companies.
I've tested various Revenue Management Systems (RMS), but none have impressed me as much as LodgiQ
LodgIQ defines the NEW ERA in revenue management
Finally a system that is easy to understand without unnecessary data and noise
