Pricing Optimization

4/5 features

Price Explanation

RMS can be perceived as black box systems where users struggle to understand the outputs, which in an automated environment is critical to build trust between human and machine. This feature provides rationale for pricing outputs to users in easy to understand language and visualizations.
Enterprise Business Guidelines

Enterprise Business Guidelines allow corporate revenue managers, cluster revenue managers and revenue management system directors to implement best practices and pricing guidelines for individual properties/Increases efficiency of corporate revenue teams and reduces administrative overhead and ensures corporate strategies are followed.
Alternate Stay Date Recommendations

Allows the RM to find and suggest the optimal alternative date(s) to take group business/Allows RMs to take the right group business at the right time for the right rate.
Alternate Property Reccomendations

The application suggests alternate properties that may be a better fit for the group given the budget/Ensuring you take the right group business without denying or closing out availability to groups
Real-time price optimization

As soon as a change in the market or at the hotel occurs, the software will react in real-time with a measure to that change in activity if necessary. There is no need to wait for an "optimization run" to happen like it has been in the past.
Dynamic Price Hierarchy Control

Each room type is priced dynamically but always respects the room price hierarchy.
Open Pricing

Open Pricing allows hotels to yield each segment, channel and room type independently in real time. Open pricing gives hotels the ability to price all room types, channels and dates independently of each other to maximize revenues without having to close any off./Hotels can price each room across all channels based not on BAR, but on the demand for those specific products and segments. It means never closing the door on a guest who wants to book a hotel. And it means maximizing revenue by selling the right room to the right customer at the right time for the right price.
Guided workflows

Workflows within the application to guide new users through revenue management best practices and day-to-day activities using the software.
"What-if" scenario analysis

Get detailed forecasts on an inventory level to help you to explore how different configurations of your rooms and rates would maximize group revenue.
Dynamic Pricing

Ability to adjust prices based on rules and conditions/Provides for flexibility and control without making daily pricing changes
Set Boundaries

Set minimum and maximum prices, making sure your rates are always in your comfort-zone.
Manage Exceptions

Change individual dates by making percentage adjustments or fixing prices
Group Pricing

Instantly calculate the optimal rate for groups and make data-driven decisions on which business to accept.
Manage Restrictions

Use restrictions to control your business mix and know when to close out corporate rates and maximize revenue from your transient business.
Manage Sell-Outs & Cancellations

Optimize overbooking to account for all expected cancellations, no-shows and group wash across all market segments and grow on-site spend
Business Mix Optimization

Flexibly optimize business mix by managing product availability based on value and drive shoulder night performance
Define Cycles

Manage seasonality and day-of-week patterns with monthly and weekday adjustments.
Yield Room Types Individually

React to different booking behavior on an individual room-type basis
Bulk Adjustments

Apply more granular modifications with simple bulk-adjustment features
24-Months Pricing & Forecasting

Ability to adjust prices 24-months into the future in real time providing better control to take advantage of even the slightest changes in the market 24-months into the future and avoid missing future opportunities.

Market Intelligence & Forecasting

4/5 features

Five-Year Forecasting

Allows users to build demand and financial forecast for up to five years into the future/increased visibility.
365-Day Forward Pricing

Set prices 365 days into the future
STR Data

Connect your RMS to STR compset data to leverage in your yield strategy and decision making.
18-Month Forward Pricing

Set prices 18-months into the future.
Price sensitivity modeling

Ability to run pricing scenario analysis and sensitivity models to project demand at various price levels.
Multi-Property Dashboard

Monitor the performance of your entire hotel portfolio by providing you with aggregated KPIs.
Market Intelligence Data

Improve decisions by incorporating competitor influence within your selected competitive set and position, optional reputation and sentiment scores to monetize on your online reputation, or view STR data within the dashboard for quick reference.
Interactive Customizable Dashboards

Visual heat map calendars, interactive dashboards and scheduled reports keep users of all levels informed and engaged. Multi-property reporting capabilities makes it easy for corporate teams as well as cluster revenue managers.
Future Market Demand Data

Monitor hotel booking demand in any geographical market in your RMS, 365 days into the future to better understand traveler intent and capture recovering demand with the right rates and offers based on forward-looking data.
Financial Forecast Builder

The ability to build a user-financial forecast and budget that can be locked into the system for use in reporting and pricing which reduces the time it takes to build a forecast and centralizes forecast and budget data into one system.

Dashboards & Reporting

4/5 features

Custom Reports

The ability to slice and dice your data as you need with an easy to use report builder interface/flexible, customizable, and works for all different hotel types.
Scheduled Reports

The ability to schedule reports to be delivered via email at a day, time and frequency of the user's choosing/automates manual report runs and saves time pulling data.
Lost Business Data

Lost Business Data describes the information an RMS collects from a hotel’s booking engine about each visitor that comes to the hotel's website. It is used to to inform hoteliers on how many potential customers are shopping on the website.
Analytics dashboard
Interactive Customizable Dashboards

Visual heat map calendars, interactive dashboards and scheduled reports keep users of all levels informed and engaged. Multi-property reporting capabilities makes it easy for corporate teams as well as cluster revenue managers.
Market Insights Reporting

Analyze thousands of market prices we make sure you never miss an opportunity
Pickup Analysis

You’re getting fewer or more bookings than expected? Our optimization algorithm will react quickly
Booking Pattern Analysis

Track each booking in real time to understand booking patterns, drive relevant promotions, and control your supply.
Event Data

Get real-time updates on events including: concerts, sports games to exhibitions and trade shows to inform your yield strategy.
Price Change Logs

Drill into every price update and every booking. There's full transparency on how your business is performing and how the pricing engine makes its decisions.
Customizable Notifications & Alerts

User-defined alerts proactively monitor the system’s key changes, providing notifications when business conditions significantly shift.
Displacement Analysis

Eliminate the need to pull data from different systems when running a Displacement Analysis.
Group Pricing & Evaluation

Evaluate the best dates and property to place group business while understanding expected displacement and profitability.
Multi-Property Dashboard

Monitor the performance of your entire hotel portfolio by providing you with aggregated KPIs.

Automation

4/5 features

Controlled Automation/Algorithm Customization

The ability for customers to operate in a hybrid manual / automated manner / highly increases the adoption of automation and allows companies to apply strategies and controls to their automation.
Automated Room-Type Pricing

Room-type pricing is automated based upon factors such as room type availability, demand and seasonality. With automated room-type pricing, revenue managers have a much better understanding of the additional revenue by room type they’ve achieved/The data is available to analyze room type efficiency, comparing actual ADR of room type differences to set pricing differentials. Comparing room types sold versus room types occupied helps hoteliers better understand whether they are capturing the right amount of revenue from higher room types or whether front-desk clerks are offering too many free upgrades. Armed with this information, hotel revenue managers can test strategies such as pre-arrival marketing campaigns as well as educating the front desk staff on how best to sell upgrades. Group and corporate sales teams can also be educated on how to quote multiple room types when selling.
Fully automated revenue management
Dynamic Pricing

Ability to adjust prices based on rules and conditions/Provides for flexibility and control without making daily pricing changes
AI Optimization

Continually learns and adapts to how pricing and controls impact booking patterns and demand to improve outputs. Decisions are seamlessly distributed to key technology systems.
Automatic Pricing Updates

Software will optimize your prices throughout the day and directly update in your PMS or Channel Manager

Multi-Property Functionality

4/5 features

Inventory Management

Ability to provide recommendations/decisions on yielding availability/ Rate is only part of revenue management, availability controls (minimum length of stay, open or close, overbooking) have just as great an impact.
Multi-property Management
Multi-Property Dashboard

Monitor the performance of your entire hotel portfolio by providing you with aggregated KPIs.

Group Business

4/5 features

Group Pricing & Evaluation

Evaluate the best dates and property to place group business while understanding expected displacement and profitability.
"What-if" scenario analysis

Get detailed forecasts on an inventory level to help you to explore how different configurations of your rooms and rates would maximize group revenue.
Displacement Analysis

Eliminate the need to pull data from different systems when running a Displacement Analysis.

Integrations

4/5 features

Open API

The ability for other systems to access the loyalty platform to issue, transfer, redeem, or exchange loyalty points/miles - this is not a fundamental requirement of a loyalty program, but increasingly desirable.
Channel Manager

Connect your channel manager to your RMS to extract channel mix and booking data to fuel your pricing and better understand profitability by channel.
Business Intelligence

Connect your RMS to other business intelligence tools to create custom reports using both your RMS data and other tools.
STR Data

Connect your RMS to STR compset data to leverage in your yield strategy and decision making.
Property Management System

Connect your RMS to your PMS to sync real time inventory and instantly update rates in your PMS as you make changes to your pricing strategy.

Other

2/5 features

Group pricing & evaluation
Mobile App
Smart Spreading Technology

“Smart Spreading” technology takes updates to your monthly forecast and intelligently allocates them day by day, segment by segment.
Single Sign-On

Single Sign-On is the ability to maintain centralized control over employee access rights for all of the applications they use in their organizations/Allows companies to maintain control over employees' access rights and only requires a single set of credentials to access multiple applications
Mobile Friendly Design

Product design allows users to work on either a desktop or mobile device / Revenue Managers often have to work "on the go" and so it's critical that applications are mobile compatible.

LodgiQ: A Game-Changer in Hotel Revenue Management

Cheif Commercial Officer from 200 to 499 room City Center Hotel in Washington (United States of America)

Verified

5 months ago

As a hotelier who has managed multiple properties, I've tested various Revenue Management Systems (RMS), but none have impressed me as much as LodgiQ. This innovative RMS offers exceptional pattern recognition, controlled automation in pricing, and a user-friendly interface, making it an invaluable tool for any hotelier seeking a smart RMS...

Share review

LodgIQ defines the NEW ERA in revenue management by not just beating your competitive set but also beating the broader market. LodgIQ provides you with specific data points for future to capture additional $$$ of opportunity available in the market, besides your immediate competitive set. This is the NEW ERA which both revenue managers and owners like.I have personally, used this system in many key markets in US for both independent hotels and cluster of both branded and independent hotels in same market by sharing the information and have seen dramatic positive results in performance against the market.

Chief Commercial Officer & Founder from 500+ room City Center Hotel in New York (United States of America)

While I second most of the reviews mentioned in this article but would like to emphasize on some important features from a seasoned revenue professional's point of view. (1). Ease of use and visualization of data with the feature to super-impose graphic data to make quick speed to market decisions, (2). Market related future data by day to...

The platform has plenty of data displayed, easy to update pricing, and examine OTB data for forecasting

Complex Revenue Analyst from 100 to 199 room Boutique in New York (United States of America)

They have quick customer support response time. They take feedback for the RMS onboard. The platform is easy to use.

Powerful forecasting tool to support the best yielding decisions.

from 100 to 199 room Boutique in New York (United States of America)

The system is easy to use and provides me with all the information I need to make informed pricing decisions. LodgIQ also has a powerful forecasting tool that helps me predict future demand, which allows me to make proactive pricing adjustments. Shout out to the customer success as well as their support team. They are very responsive to my...

Finally a system that is easy to understand without unnecessary data and noise. Can use it to share with entire exec team who may or may not have RM experience and get your point across.

Revenue Management from 200 to 499 room City Center Hotel in Miami (United States of America)

Great service and partnership. Small team relationship mentality which means we move through changes and customization needs quickly. Work as if they are internal team not external vendors.

Data at your fingertips

Complex Revenue Director from 100 to 199 room Boutique in New York (United States of America)

- Quick and easy access to past years data. - Pick-up and pace comparisons - Sensitivity analysis to track DOW pace

Intuitive system that continuously improves

Complex Director of Revenue & Distribution from 200 to 499 room Luxury Hotel in Boston (United States of America)

LodgIQ keeps knowledge at my fingertips. This has allowed me to be ready for any questions fired my way in mere moments. LodgIQ is my default, go to for market conditions, pace, and quick reference in pick up and segmentation analysis. The LodgIQ teams responsiveness and willingness to help in a fast moving industry is also admirable.

Revenue Analyst

Revenue Analyst from 200 to 499 room Bed & Breakfast & Inn in Phoenix (United States of America)

I extract data all the time and lodgiq makes it very convenient and in a very nice useable excel form.

Start your day with hot coffee and the LodqIQ dashboard!

Director of Revenue Management from 100 to 199 room Boutique in New York (United States of America)

Products Reviewed

Rate Shopping & Market Intelligence

Revenue Management Systems

What do you like most?

I start my day with a glimpse of the Flash Report on the dashboard which provides a quick view of the occupancy and ADR OTB over the next 12 months. I also get a high-level overview of the nightly pickup. At this point, I can drill down to appropriately make strategy decisions by market category. The ability to upload the budget and forecast into LodgIQ makes variance data relevant and up-to-date. Since this system links to OTA Insights, rate shops, and rate recommendations are in one easy location. Pricing changes can be made here that upload to Travel Tripper/Pegasus. Overall, the graphics are simple to read and understand making them useful to use during executive meetings. Lastly, the Booking Curve tab is fantastic at reviewing YOY pickup and provides insight into making strategic changes to either increase or decrease the pace.

What do you dislike or think could be improved?

1. I love data. I wish that I could export the data in .csv data format. Unfortunately, the data is exported in excel format with some column headers in merged cells. This requires manual formatting and renaming columns to be able to pivot or extract data. It would also be nice to be able to download the graphics into a PowerPoint slide. 2. The Flash Report has a 3-month overview. I would like to be able to scroll down and see the data in this format for a full 12-month month view. Either that or switch Occupied Rooms to Occupancy % on the top view. 3. The Market Summary tab is not effective without a side-by-side comparison of the hotel's performance. I have to extract the data and then line up my property's performance next to the market performance to use this information. A side-by-side view would immediately highlight days with variances that require a strategy change. 4. A few links are glitchy for me. The group pricing tab never completely loads. The Rate Update History screen for a specific date when clicked on in the Pricing tab does the same thing. 5. The location of the tabs on the right is not exactly intuitive. Market Sell rates and Comp Set for instance are not located next to the Price Calendar. I feel like there should be a way to get a report that has the various rates in one report.

Great RMS Tool and Easy to Use!

Director of Revenue from 100 to 199 room Boutique in New York (United States of America)

Lodgiq is one of the most user friendly RMS platforms I have used. Super simple to change rates on the fly. Great tracking of historical pace by segment and quick to check on market performance.

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Discover Apps

Resources

Get Advice

Price Explanation

Enterprise Business Guidelines

Alternate Stay Date Recommendations

Alternate Property Reccomendations

Real-time price optimization

Dynamic Price Hierarchy Control

Open Pricing

Guided workflows

"What-if" scenario analysis

Dynamic Pricing

Set Boundaries

Manage Exceptions

Group Pricing

Manage Restrictions

Manage Sell-Outs & Cancellations

Business Mix Optimization

Define Cycles

Yield Room Types Individually

Bulk Adjustments

24-Months Pricing & Forecasting

Five-Year Forecasting

365-Day Forward Pricing

STR Data

18-Month Forward Pricing

Price sensitivity modeling

Multi-Property Dashboard

Market Intelligence Data

Interactive Customizable Dashboards

Future Market Demand Data

Financial Forecast Builder

Custom Reports

Scheduled Reports

Lost Business Data

Analytics dashboard

Interactive Customizable Dashboards

Market Insights Reporting

Pickup Analysis

Booking Pattern Analysis

Event Data

Price Change Logs

Customizable Notifications & Alerts

Displacement Analysis

Group Pricing & Evaluation

Multi-Property Dashboard

Controlled Automation/Algorithm Customization

Automated Room-Type Pricing

Fully automated revenue management

Dynamic Pricing

AI Optimization

Automatic Pricing Updates

Inventory Management

Multi-property Management

Multi-Property Dashboard

Group Pricing & Evaluation

"What-if" scenario analysis

Displacement Analysis

Open API

Channel Manager

Business Intelligence

STR Data

Property Management System

Group pricing & evaluation

Mobile App

Smart Spreading Technology

Single Sign-On

Mobile Friendly Design