NEW YORK, Feb. 25, 2016 /PRNewswire/ -- LodgIQ™, a New York based start-up, today announced an agreement with Highgate to implement its revolutionary revenue optimization platform, LodgIQ RM™ across Highgate's portfolio of 100 hotels and ~27,000 rooms in key gateway markets worldwide. The implementation will commence in March with Highgate's Manhattan properties. Highgate's many distinctions include its status as the largest manager of hotel rooms in Manhattan, operating 10 percent of the total inventory.
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"We are honored to announce this pivotal agreement with Highgate. Their commitment to innovation and proven track record of industry-leading results speak for themselves and we are very proud to be chosen as their hotel revenue technology partner," said Ravneet Bhandari, CEO of LodgIQ™. "Traditional forecasting and optimization paradigms are very limited in how they approach the revenue management problem, especially in today's multi-signal and complex operating environment. Savvy operators recognize this, and we are confident that the deployment of the LodgIQ RM™ platform will power Highgate's continued market leadership in this domain."
LodgIQ RM™ is re-imagining the revenue management product category through its sophisticated machine learning platform. Uniquely designed to engage today's millennial revenue management professional, LodgIQ™ has elevated the user experience by incorporating a sleek, collaborative experience made to deliver optimal results. Providing a complete 360° view of the market through its multi-dimensional big data sources, LodgIQ RM™ offers hoteliers dramatic gains in their revenue performance. Unlike other platforms, LodgIQ RM™ also takes into account vacation rental data, a critical element of market demand that must be considered when understanding price-elasticity or booking patterns.
"Revenue optimization is one of the key cornerstones to our success," says Mahmood Khimji, Principal at Highgate. "The technology and design of the LodgIQ RM™ platform is unique to the industry – we are impressed with the advanced machine learning algorithms and intuitive design. We anticipate seeing very positive results across our entire portfolio."
LodgIQ™ will unveil LodgIQ RM™ in its entirety at ITB Berlin on March 9-13, 2016. Currently allowing limited access to their platform upon application, users can now arrange a private demonstration by sending a request to [email protected]. For more information visit www.LodgIQ.com
ABOUT LODGIQ™
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.
ABOUT HIGHGATE
Highgate is a premier hospitality investment and management company widely recognized as an innovator in the industry. Highgate is the dominant player in U.S. gateway markets including New York, Boston, Miami, San Francisco and Honolulu. Highgate also has an expanding presence in key European markets through properties in London, Paris, Barcelona, Vienna and Prague. Highgate's portfolio of global properties represents an aggregate asset value exceeding $10B and generates over $2B in cumulative revenues. The company provides expert guidance through all stages of the hospitality property cycle, from planning and development through recapitalization or disposition. Highgate also has a proven record of developing bespoke hotel brands and utilizes industry leading proprietary revenue management tools that identify and predict evolving market dynamics to drive outperformance and maximize asset value. With an executive team consisting of some of the industry's most experienced hotel management leaders, the company is a trusted partner for top ownership groups and major hotel brands. Highgate maintains corporate offices in London, New York, Dallas, and Seattle.
Media contact: North 6th Agency (for LodgIQ)
212-334-9753, [email protected]
SOURCE LodgIQ
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