RateGain Travel Technologies said that it has been selected as the preferred revenue management partner by Green Motion International for its franchisee network spread across 650 locations in 73 countries worldwide.
Green Motion is a world-leading car rental brand known for its commitment to lower CO2 emission from vehicles. It is at the forefront of mobility innovation for the car rental industry, pioneering the latest technology to deliver truly frictionless mobility services.
The complexity in car-rental revenue management while planning to respond to market demand, need to be cognizant of non-static inventory which may vary, especially during high demand periods.
The car-rental industry further faces complications due to volatile customer-behaviour which impacts demand and results in price drops close to the actual pick-up date. Car rental being usually the last in the booking process of any planned leisure or business travel with the lowest wallet share in the travellers overall spend makes it more vulnerable to competitive pricing pressure.
With Rev-AI by RateGain, Green motion will utilize over 25 real-time demand indicators, providing hyper-local demand insights enabling them to understand market potential accurately and adjust pricing dynamically by car segment, channel, and location. The AI-driven price recommendation engine within Rev-AI will also assist Green Motion franchisees in capturing additional market share while maintaining the visibility of their ongoing financial performance.
Green Motion franchisees will now be able to track demand and utilization, spikes in city locations, to discover the correct rate for their fleet, and change them based on AI/ML optimization, making it hassle-free and reducing hours of effort.
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Siddhartha Kothari, general manager and EVP for Rev-AI at RateGain, said: RateGain and Green Motion International are united by a shared dedication to innovation.
We're excited to partner with Green Motion to revolutionize revenue growth for their franchisees. Our technology is not just about increasing margins; it's about paving the way for smarter, more efficient business strategies in the car rental industry."
RateGain Travel Technologies is a global provider of SaaS solutions for travel and hospitality. It is one of the world's largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business.
The companys consolidated net profit surged 48.03% to Rs 50.02 crore in Q4 FY24 as against with Rs 33.78 crore posted in Q4 FY23. Revenue from operations grew by 39.84% to Rs 255.81 crore in Q4 FY24 as compared with Rs 182.93 crore recorded in the corresponding quarter pervious year.
The scrip shed 0.39% to currently trade at Rs 736.05 on the BSE.
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