lodgiq
SalesAndCatering.com and LodgIQ™ Announce Partnership To Deliver Market-Leading AI Revenue Management for Group Sales
SalesAndCatering.com | June 18, 2024
Seamless integration delivers powerful group commercial optimization capabilities, empowering hotels to make data-driven decisions that accelerate revenue growth and sales performance. Charleston, SC—(June 18, 2024) –SalesAndCatering.com and LodgIQ™ today announced a new strategic partnership to integrate LodgIQ's revolutionary artificial intelligence (AI) revenue management technology into SalesAndCatering’s award-winning group and event management platform, STS Cloud. Effective group revenue management is critical for hotels seeking to maximize revenue and profitability in today’s competitive marketplace. Both companies will wo...
The Holy Grail of the Hospitality Industry: The Commercial Strategy Platform
Noelani Schroy | January 16, 2024
By Noelani Schroy The hotel industry is, once again, in a state of flux; the COVID pandemic forever changed how hotels operate, but we are currently in a second evolutionary phase, in which the convergence of technology and strong commercial leadership, is proving to be an operational imperative for hotels to ensure profitability over the long-term. An important first step in this new operational evolution is the implementation of a commercial leader to oversee all the internal departments responsible for revenue generation. In the past few years, commercial teams have started being established in big, branded properties, but today, it is i...
Why Hotel Revenue Managers Know Not to Soley Rely On Gut Instinct When It Comes to Group Revenue Management
David Millili | May 4, 2023
By David Millilii, CEO of LodgIQ Amadeus reports that group and business travel segments are steadily recovering, with 4.3 million group room nights booked for H1 2023. The global business travel segment is expected to recover fully by 2024. According to the Global Business Travel Association (GBTA), group travel demand will likely increase in 2023, and the average spend per attendee for group events will increase in 2023. Group business means big business for hotels, accounting for a significant portion of hotel revenue. Some estimates suggest it can make up as much as 30-50% of a hotel's total revenue. This underscores the importance ...
LodgIQ Appoints Chris Connar as Vice President of Business Development
LodgIQ | February 9, 2023
Hospitality tech veteran to drive strategic growth and support demand for the industry-leading AI-powered revenue management system Silicon Valley, CA (Feb 9, 2023) – 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 respected technology professional with extensive experience in the hospitality industr...
Adjusting for Inflation: Should You Raise Your Hotel Room Rates?
David Millili | February 1, 2023
By David Millili 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 outlook. With inflation staying low over the last ten years (1.88% on average), the current rise (8% annual average in 2022) has begun to make ripples across industries, and hospitality is no exception. The latest set of inflation data, which the Bureau...
Are Hotels Ready for Generation Novel?
David Millili | January 10, 2023
How the rise of Generation-Novel or Gen-N could transform the future of guest service By David Millili, CEO, LodgIQ What defines world-class guest service? Is it personalized offers or a value-driven loyalty program? Is it a timely reply sent back to an unsatisfied guest review? Is it flexible stay options or policies? Is it an engaging social media presence? Guest service can be all of these things… and with the demands accelerated by the pandemic, it has also become so much more. The problem with defining guest service in any singular way is that we often treat guest service as a department or a response rather than an ever-evolv...
5 Things That Highly Successful Revenue Managers Do Every Morning
David Millili | December 20, 2022
By David Millili Discover how to kickstart your day using the right strategies to optimize productivity, revenue, and the most profitable results In a society largely defined by work and our ability to excel, many of us are fascinated with the traits and habits of great leaders and successful people. More importantly, we want to know which practices and routines we can emulate to garner similar results and transformations. Let’s take British business magnate Richard Branson, as an example, who likes to get up around 5 AM and exercise first. Similarly, Apple’s Tim Cook is up early every morning, rising at 3:45 AM to work on email...
How Technology Is Transforming the Future of Revenue Management for Hotels
David Millili | December 1, 2022
Next-generation tech delivers a unique competitive advantage and provides better conditions to predict, forecast, and boost future business, revenue, and profitability By David Millili 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 all types is to preserve margins. Not to mention, a typical hotel makes roughly...
