BERLIN, March 9, 2016 /PRNewswire/ -- LodgIQ™, which is firmly committed to bringing the discipline of revenue optimization into the 21st century, today announced the formal launch of its LodgIQ RM™ and LodgIQ Mobile RM™ platforms for the hospitality industry. The company has already secured $5 million in seed funding and recently announced the signing of its launch customer, Highgate Hotels. Developed by seasoned travel executives and Silicon Valley technologists with deep domain expertise, LodgIQ™ is re-imagining the revenue optimization category through various innovative and cutting-edge features.
Massive Data Infrastructure: The LodgIQ RM™ platform is built around the largest repository of data sources, including market demand, competitive rates and reviews, customer shopping intent, flight arrivals, vacation rental demand and rates, exchange rates, events, weather and real-time news feeds, in addition to any hotel's booking patterns and group demand at a granular, transactional level.
Advanced Machine Learning: Traditional forecasting and optimization algorithms have stayed static for decades, and are only able to take hotel-specific trends into account. LodgIQ RM™ incorporates deep machine learning and artificial intelligence techniques to extract all relevant signals about evolving demand patterns and price-elasticity that are necessary to optimize revenues and profitability. This means that LodgIQ RM™ is able to react to market dynamics in real-time and recommend optimal, personalized pricing at a unique customer level.
Intuitive, Intelligent User Interface: The patented LodgIQ Board™ is the most intelligent and powerful user interface ever built for hospitality. Designed to adapt to any user's persona, and usable on any device, it thinks, learns and morphs with each user's unique clickstream, and introduces several industry-first features:
- Smart Tiles™
- Price IQ™
- Smart Alerts™
- IQ Bar™
LodgIQ Mobile RM™: The world's first-ever full featured mobile revenue management system (RMS), LodgIQ Mobile RM™ includes all of the advanced functionality and ease of usage of the LodgIQ™ platform, and allows users to fully optimize their hotel's revenue and profitability from their mobile device or tablet. The patented Voice IQ™ feature enables hands-free, natural speech driven access to all of the advanced functionality, analytics and decisions.
"We believe that LodgIQ™ is the most advanced and effective revenue optimization platform ever built for the travel industry," said Ravneet Bhandari, CEO of LodgIQ™. "Every detail has been meticulously crafted to serve the needs of the user community, and our intelligent, self-learning technology and design means that the platform adapts itself to the specific needs of any hotel property, regardless of property type, size or location. LodgIQ RM™ was built to de-mystify big data, and convert it into actionable analytics and optimal recommendations, without any hype or buzzwords. Ultimately, it's about results, and we are confident that we can deliver industry-leading revenue and profitability growth for all of our clients."
LodgIQ is a start-up dedicated to providing advanced revenue optimization technologies to the travel industry. Their breakthrough next-generation revenue optimization platform, LodgIQ RM™, was developed by seasoned travel executives and Silicon Valley technologists. Built around a multi-source big data eco-system, LodgIQ RM™ combines sophisticated machine learning with an intuitive and powerful user interface to deliver advanced recommendations and actionable analytics. The platform is designed to think, learn and morph with each user's unique clickstream enabling the user to make optimal revenue decisions. LodqIQ has headquarters in New York City, and maintains offices in Silicon Valley and Bangalore.
Media contact: North 6th Agency (for LodgIQ)