6.19.2024
SalesAndCatering.com and LodgIQ have entered into a new strategic partnership to integrate LodgIQ’s revolutionary artificial intelligence (AI) revenue management technology into SalesAndCatering’s award-winning group and event management platform, STS Cloud. Effective group revenue management is critical for hotels seeking to maximize revenue and profitability in today’s competitive marketplace. Both companies will work together to support hotel operators in anticipating demand better, optimizing pricing and availability, and winning more business from group customers.
At its core, the integration is centered on powering intelligent pricing strategies for groups, leveraging LodgIQ’s advanced machine-learning algorithms to analyze vast amounts of data in seconds. By utilizing demand forecasts, competitor rates, and additional variables like seasonality and special events, the tool streamlines workflows and empowers sales teams to make data-driven decisions that drive profitable growth and prevent revenue erosion from excessive discounting.
Users will have easy direct access to LodgIQ™ within the STS Cloud platform and will be able to take advantage of advanced capabilities:
- Provides real-time insights and predictive analytics to anticipate demand fluctuations for the property market and adjust strategies for maximizing revenue.
- Ensures data accuracy and consistency across revenue management and STS Cloud reducing errors and miscommunications – and preventing lost revenue opportunities.
- Identifies patterns and trends that may not be apparent to human analysts, uncovers new revenue opportunities, and keeps hotels ahead of market trends.
- Offers personalized and competitive group pricing, improving hotel appeal to event planners and group organizers, leading to increased bookings and stronger client relationships.
- Automates dynamic pricing adjustments based on real-time market conditions, ensuring hotels offer the most competitive rates, attracting more group business, and enhancing profitability.
- Delivers a comprehensive view of group booking data and revenue performance, enabling hotel managers to confidently make strategic decisions, supporting long-term growth and sustainability in the competitive groups and events segment.
- Providing overall group value with real-time displacement analysis, alternate date recommendations, and ancillary revenue profit-margin considerations
“This partnership addresses the critical challenge of optimizing group revenue management in the hospitality industry. By integrating SalesandCatering.com’s robust platform with LodgIQ’s AI-driven revenue management technology, we empower hotel commercial teams to make data-driven decisions that drive revenue growth and sales performance. This solution is essential for hotels to remain competitive, maximize profitability, and adapt to market dynamics,” said David Millili, CEO of LodgIQ™.
LodgIQ™, renowned for its sophisticated commercial strategy capabilities, leverages machine learning and artificial intelligence to deliver dynamic pricing strategies. Real-time data analytics empowers hoteliers to make astute decisions grounded in current market trends and historical data. One of its many standout features is an intuitive user interface that translates complex data into actionable insights for hotel teams to use with minimal training.
The partnership between LodgIQ™ and SalesAndCatering.com stems from the convergence of client needs and the complementary strengths of both companies. “We started hearing about LodgIQ from our clients who were impressed with the platform’s adaptability and rapid innovation features,” said Ryan Hamilton, co-founder of SalesAndCatering.com “This feedback spurred us to explore a collaboration, and we discovered that both our technological capabilities and mission to deliver exceptional outcomes for our customers through innovative, value-driven solutions aligned perfectly. We are thrilled to introduce the deepest integration between an AI revenue management system and sales and catering solution to the market, and we look forward to our future work together.”
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