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PRESS RELEASE from provider: Business Wire
This content is a press release from our partner Business Wire. The AP newsroom and editorial departments were not involved in its creation.

Market Intel Powered by LodgIQ to Premiere at ITB Berlin

February 28, 2019

NEW YORK--(BUSINESS WIRE)--Feb 28, 2019--LodgIQ, an innovative hotel revenue management and business intelligence startup, today announced plans to introduce its Market Intel application at the ITB conference in Berlin. Market Intel, which was teased at the HEDNA Innov8 conference, is the travel industry’s first ever day-by-day market forecast tool.

Engineered for hospitality industry professionals, Market Intel leverages predictive analytics to deliver strategic insight into demand, average daily rate (ADR), and revenue per available room (RevPAR) fluctuations within a desired market and submarket. Through ongoing real-world beta tests Market Intel has proven its striking accuracy in a range of dynamic markets, with hotels reporting variances of less than 3% within 90-days.

“Market Intel builds on our macro-to-micro philosophy through a standalone application that it is already driving real functional results in the beta phase,” said Steven Rubin, EVP of Operations and Partnerships at LodgIQ. “Feedback from our hotel roster has been wholly positive, with DORMs praising Market Intel as a robust strategic tool to drive revenue over high and low demand periods.”

“Our mobile application—which further incorporates advanced functions like voice command—is set for release in early 2019, which makes ITB an ideal time for us to share a preview of Market Intel with technology enthusiasts,” Rubin added.

As a standalone product independent of a hotel’s typical suite of systems, Market Intel can add strong value to properties with existing revenue management systems, including branded properties with mandated technology. Existing and prospective LodgIQ RM customers will be offered Market Intel within LodgIQ’s own RMS and via the mobile application.

ITB Berlin attendees can preview Market Intel at Stand 112 in Hall 10.1 or by reaching out to our media contact to schedule an exclusive one-on-one meeting. The Beta version of Market Intel powered by LodgIQ is currently available free of charge in the AppStore, with a full-scale launch anticipated in Q2 2019.

About LodgIQ
LodgIQ is an innovative revenue management and business intelligence startup challenging backward technological norms throughout the hospitality industry. LodgIQ combines sophisticated machine learning and predictive analytics with an intuitive and powerful user interface to deliver advanced pricing recommendations and actionable insights. LodgIQ is headquartered in New York City, and maintains offices in Silicon Valley, Bangalore and Singapore.

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PUB: 02/28/2019 09:00 AM/DISC: 02/28/2019 09:01 AM