It is of no surprise that due to the COVID-19 outbreak, the travel and hospitality industry has really taken a hit. Globally, the pandemic has shut down various airline services, and with people being advised to stay home in order to prevent the spread of coronavirus, the lack of demand for air travel has hit the industry.
But when things start to get better, you would want to up your game and prioritise things, as to stay one step ahead of everyone. Keeping that in mind, you would require help from one of the best travel and hospitality software companies, which is RateGain. It is a leading travel technology solutions company that has an array of softwares designed to provide intelligence, discovering new demands and real-time insights, it is the only travel-tech company that works with every vertical of the hospitality industry.
Rate Parity
On a regular basis, more and more digital touchpoints continue to engage with the consumers, and that makes it even more vital for demand and supply partners to stay in sync with the delivery channels and make it compulsory that the right price is showcased everywhere. Parity + is an offering by RateGain, which helps in maintaining the right price across all listed channels by notifying about rate violations.
Revenue Management System
When you come to online booking, there is so much competition. Especially with small and medium-sized enterprises, the main challenge for the team is to prioritise day to day activities and then create a suitable strategy around it. This is where revenue management system comes into the picture which,
- Helps create a plan by providing you with insights and real-time analysis of the demand and supply of the market.
- Assists to determine the price based on rate recommendations which are calculated according to real-time and historical data
- Tracks crucial performance data – compared to your revenue goals
- Estimates Revenue
- Keeps a track of properties on a clustered dashboard
- Helps maximise yield by highlighting days that can help generate better revenue using a market compression indicator.
Competitor Rate Intelligence
It will soon become a highly competitive hospitality and travel market once the market recovers. It will become necessary for chain and independent hotels to check their activity and then compare it with competitors, helping them make micro-decisions. RateGain’s proprietary tool – Optima, provides hoteliers with real-time rate intelligence clubbed with an accurate data quality framework that ensures you stay ahead of the competition at all times.
Distribution Channel Management
RateGain has an extensive network of demand partners such as OTAs, GDSs. TMCs that provide an enormous number of accommodation providers for hotels and travel sellers in order to lure every kind of consumer. With the help of this, you can merge your revenue and strategy to maximise your reach. Furthermore, their smart distribution channel manager provides you with the freedom to discover demand and expedite the process of contracting by:
- Helping you explore the industry’s largest ecosystem of demand channels
- Getting access to more than 125000+ hotels
- Enabling you to get connected to DHISCO SWITCH and grow hotel partnerships instead of resource-intensive and restrictive direct connections.
Social media marketing
If you put together RateGain’s revenue management capability and BCV’s hospitality social media marketing platform, it’s the best combination that lets you leverage a host of unique features to maximise guest lifetime. With an industry-first approach, partner hotels get to
- Elevate your hotel’s experience and reputation
- Help to manage negative reviews and perform crisis management
- Monitor online activity 24×7
- Avail social media consultation related to offers & deals.
Conclusion
It is now more important than ever to make strategic decisions that will have an everlasting impact on the business. It is of no doubt that technology has taken the front stage when it comes to AI driven recommendations, and it is here to stay. RateGain’s approach towards travel technology ensures that you stay ahead of the competition and strive for a better tomorrow.