NYC-based startup launches industry first predictive analytics and true machine learning platform.
NEW YORK – LodgIQ, which is firmly committed to bringing the discipline of revenue optimization into the 21st century, announced the official launch of the company and its platform. LodgIQ RM is a next-generation revenue optimization platform for the hospitality industry developed by seasoned travel executives and Silicon Valley technologists. The NYC start-up has secured $5 million in seed funding led by Highgate Ventures, a venture capital platform focused on early stage technology investments in the hospitality industry and Trilantic Capital Partners, a global private equity firm. LodgIQ has already made a significant investment in advanced machine learning platforms and data science.
Built around a multi-source big data eco-system, LodgIQ RM combines sophisticated machine learning with an intuitive and powerful user interface to deliver advanced recommendations and actionable analytics. The platform is designed to think, learn and morph with each user’s unique clickstream enabling the user to make optimal revenue decisions.
“The revenue optimization user community in travel has become increasingly sophisticated over the past decade, and yet we have not seen the non-linear advances in technology that other industries have experienced,” said Ravneet Bhandari, CEO of LodgIQ. Bhandari, who brings over 20 years of domain expertise in leadership and advisory roles with top industry flags including Hyatt, Caesars Entertainment and Starwood Capital commented further: “Big data isn’t a buzzword – it’s a given. LodgIQ RM makes it instantly actionable through cognitive machine learning in an easy, intelligent and highly effective platform.”
The company has already secured their launch customer and will deploy its new platform at five prominent New York City hotel properties in February 2016.
“We remain very bullish on disruptive travel technology plays and believe that LodgIQ has the potential to quickly dominate the revenue optimization landscape,” added Vann Avedisian, Principal at Highgate Ventures. “The technology and design are unlike anything in the market.”
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
