RateGain Travel Technologies Limited (RateGain), a global SaaS company for travel and hospitality, has today announced that it has been selected by Posadas which owns Live Aqua, Grand Fiesta Americana, Fiesta Americana, The Explorean, IOH, Fiesta Inn, Gamma and one Hotels to provide business intelligence solutions, rate parity technology, and data intelligence to increase profitability and forecasting functionalities.
As Mexico's largest and most internationally renowned hotelier established four decades ago with an impressive history of business growth and brand expansion, the company is poised for an excellent growth recovery as travel demand rebounds in Latin America and tourists alike flock to Mexico as an alluring travel and vacation destination.
Posadas will be implementing RateGain's award-winning BI solutions bundled together with Room Only Rate Shopper OPTIMA, Package (Hotel + Flight) price intelligence, PARITY+, and Test Reservation service across all its properties and brands throughout Mexico. Posadas owns, leases, operates, and manages hotels, resorts, and villas and their portfolio ranges from luxury properties, upscale resorts to budgetfriendly city hotels as well as vacation rental clubs all around Mexico.
As travel recovers and reopens across Latin America, 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 reduce the impact on bookings in case demand falls.
The ongoing volatility also makes it hard for hotels to manage their prices across different channels and frequent changes in rates tend to increase instances of disparity, which further can impact revenue and profitability.
To counter these challenges and maximize revenue opportunity, Groupo Posadas selected RateGain, whose technology would provide them with real-time competitive intelligence and actionable insights to react faster to sudden market changes. RateGain's Real-time Rate Intelligence Solution - OPTIMA will help Grupo Posadas optimize their pricing strategy in accordance with the current market trends and competitor rates. Through an easy-to-use platform, Optima users can track rates across multiple channels - Mobile, Meta, Member & Market (Geographic point of sale).
By being agile & proactive and using data to drive their pricing strategy, Posadas can expect to accelerate RevPAR.
RateGain's Parity+, with its in-built workflows and automation, helps to track pricing across different demand partners and channels. It will ensure Posadas has the right prices across channels thereby controlling revenue leakage. In addition, through the test reservations service, RateGain offers a solution to proactively identify defaulters violating the Rate Parity and provides assistance to correct the violations instantly.
José Lorenzo, (SVP of Revenue Management, Distribution and IT) said: "We are always looking for innovative solutions to give our hotel portfolio a unique competitive advantage along with greater levels of automation to reduce manual tasks and workloads. The extension of our partnership with RateGain reflects our commitment to enable best-in-class revenue management solutions for today's market. The current volatility in consumer demand and pricing has made it increasingly challenging for hoteliers to maintain hotel rate integrity and apply historical best practices, highlighting a need for advanced forwardlooking tools to support revenue recovery. The business intelligence tools from RateGain deliver easy-touse forward demand tracking and competitive intelligence to our hotels in Mexico enabling them a clearer view of the path towards revenue recovery and beyond."
Commenting on the partnership, Chinmai Sharma, President - Americas, RateGain, said, "We are delighted to deliver Grupo Posadas with smarter revenue insights that can help accelerate further business growth. Mexico is the fastest recovering market in all Latin America and actionable data can bring a real commercial advantage to our partners in the region. It is a privilege to support Grupo Posada's hotel portfolio through the current recovery and beyond."
Shares of Rategain Travel Technologies Limited was last trading in BSE at Rs. 248.05 as compared to the previous close of Rs. 249.35. The total number of shares traded during the day was 21631 in over 1081 trades.
The stock hit an intraday high of Rs. 252.00 and intraday low of 244.90. The net turnover during the day was Rs. 5353554.00.