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LODGIQ WANTS 3,000 MORE HOTELS TO GET ONBOARD; ASIA IS STRONG GROWTH MARKET

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ITB Berlin; http://www.webintravel.com/author/vera/, 09/03/2017 – LodgIQ wants 3,000 more hotels to get onboard; Asia is strong growth market
09/03/2017, by Vera Lye, in NewsRegionsSectors
 
While technology can sometimes leave smaller players on the back foot, LodgIQ’s latest self onboarding tool hopes to level the playing field for smaller independent boutique hotels.
 
 
“Hotels need to understand that paradigms have shifted and that technology can deliver so much more than they believe possible,” said CEO Bhandari
 
“LodgIQ ONE completely eliminates any dependencies on PMS or CRS connectivity, therefore lends itself best to hotels with less complex operating environments, such as independent hotels. LodgIQ ONE offers these independent hotels the ability to optimise their revenue and implement strong forecasting and machine learning technology to help them stay competitive,” said Ravneet Bhandari, LodgIQ’s chief executive officer.
 
Launched late last year, LodgIQ ONE is described as being able to “allow hoteliers to self-onboard any property in less than five minutes”. With some 500 hotels already deploying their technology, it now wants to see another 3,000 do the same by this year.
 
According to Bhandari, Asia is a strong growth market for LodgIQ and will make up around 35 percent overall by the end of the year. “We have seen, particularly, Thailand leading the way, followed by Indonesia, and India. All of these markets show tremendous potential, and hoteliers are becoming more tech savvy, and embracing new, exciting technologies to help their businesses,” he said.
 
Bhandari also pointed out that critical points of focus for hotels include understanding how more data can help, not hinder – no doubt if using the right technology to assist.
 
“Hotels need to pay attention to what is happening around them, understanding that more data doesn’t always mean more complexity – cutting through the noise and finding the real value in the data is what will make hotels succeed,” he added.
 
He also emphasised the importance of keeping up with changes as “today’s trending platforms or channels might not be the same with the next generation of travellers”.
 
And what is next for LodgIQ?
 
“Total Revenue Management capabilities are required in the future, but so is asset management – being able to make confident profitable decisions with the help of advanced technology,” he said.
 
Since the company’s inception in early 2016, LodgIQ™ has secured $5 million in seed funding led by Highgate Ventures and Trilantic Capital Partners and successfully launched unique product offerings, LodgIQ RM™/LodgIQ Mobile RM™ and LodgIQ ONE™.

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LodgIQ - Revenue Management Reimagined

85 Broad Street

18th Floor

New York City NY 10004
USA

ITB Berlin 2017

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