RateGain Travel Technologies rose 1.32% to Rs 294.45 after the company said that Royal Orchid Hotels has selected the firm's platform for real time pricing insights and better connectivity.
Royal Orchid & Regenta Hotels is one of India's fastest-growing hospitality brands, managing a portfolio of over 75+ properties with 4,600 rooms across the country.Royal Orchid Hotels will be implementing RateGain's Rate Intelligence solutions bundled together with channel manager platform for reliable and improved connectivity to demand partners globally.
With a strong recovery in travel and the country reopening, short-term demand volatility continues to make it difficult for hotels to track market changes in real-time and identify opportunities to either maximize their margins during high-demand dates or manage the impact on bookings in case demand falls, the company said in a statement.
The bundled offering from RateGain will provide real-time competitive pricing intelligence and improved connectivity to a wide network of Online Travel Agents (OTAs) globally. The platform will enable the group to deliver unique booking experiences to its guests along with boosting its visibility across continents.
Commenting on the partnership Prashant Mehrotra, chief operating officer, Regenta & Royal Orchid Hotels said: "As travel demand is returning strongly and with tourists flow expected to pick up, we are looking for innovative solutions to have a competitive edge to optimize our pricing and have better visibility across demand partners. In the current environment with many uncertainties looming, it was essential to have one partner who can provide us with a single platform for accurate real time intelligence and connectivity across global OTAs making it seamless and efficient for us to manage."
RateGain Travel Technologies is a global provider of Software as a Service ("SaaS") solutions for travel and hospitality that works with over 2200+ customers in over 100+ countries helping them accelerate revenue generation through acquisition, retention and wallet share expansion.
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The company reported net profit of Rs 8.42 crore as against a net loss of Rs 1.38 crore in Q1 FY23 over Q1 FY22. Net sales rose 59.2% YoY to Rs 119.30 crore Q1 FY23.
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