New Points of Reference in Revenue Management

Revenue management software is an integral tool in any hotelier’s toolkit. And, with the ever-evolving technology landscape, new trends are emerging in the software, making it more detailed, accurate, and easier to use. Ravneet Bhandari, CEO of revenue management startup LodgIQ, has started incorporating deep analysis of big data (including public records) and a fluid approach to data segmentation, providing more accurate, up-to-date comparisons. “We pick up all of the demand signals as we narrow down to the hotel, and then we feed all of that into the optimization algorithm, so we are making a more optimal decision from a pricing perspective,” Bhandari explains. Also among the data analyzed by LodgIQ’s interface and final recommendations: The impact of vacation rentals, like Airbnb.