LodgIQ introduced its market intel application this month. Market Intel is a day-by-day market forecast tool, according to the company.
Engineered for hospitality industry professionals, Market Intel leverages predictive analytics to deliver insight into demand, average daily rate and revenue per available room fluctuations within a desired market and submarket. Through ongoing real-world beta tests, Market Intel has proven its accuracy in a range of dynamic markets, with hotels reporting variances of less than 3 percent 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,” Steven Rubin, EVP of operations and partnerships at LodgIQ, said in a statement. “Our mobile application, which further incorporates advanced functions like voice command, is set for release in early 2019.”
As a standalone product independent of a hotel’s typical suite of systems, Market Intel can add 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.
The beta version of Market Intel is available free of charge in the AppStore, with a full-scale launch anticipated in Q2 2019.
