First Hotels Partners with RateGain for AI-enabled Competitive Intelligence and Rate Parity
LONDON, Jan. 21, 2021 /PRNewswire/ -- RateGain Technologies, the leading SaaS Company for travel and hospitality, today announced a global strategic partnership with First Hotels, a leading hotel chain in Scandinavia, for providing AI-driven competitive pricing insights and helping maintain price parity across various OTAs and third-party booking platforms.
First Hotels required a comprehensive solution that makes it easy for its revenue management team to not only make daily pricing decisions but also monitor the market effectively. RateGain's rate intelligence suite powered by Parity+ and OPTIMA will allow First Hotels to configure smart rate shopping leveraging an AI-powered data platform while tracking real-time parity with features such as advanced KPI dashboards coupled with automated alerts that help in closing the loops with violators, checking revenue leakage, saving time and driving costs down.
Together with MarketDRONE that leverages AI to track intra-day rate changes as well as the AI-driven dataSURE, First Hotels would get >99% data sufficiency and accuracy to adjust prices in real-time based on competitive insights than can be refreshed in less than 60 seconds.
All this served through an easy to use interface, the revenue team at First Hotels would be able to get a consolidated view of properties to track the market positioning of the subscriber easily as well as see what their customers are viewing irrespective of the geography from which the OTA or Meta is accessed.
"We have been searching for a partner that can make it easier for our managers and central resources to formulate the pricing strategy. RateGain's Optima and Parity+ offers a fantastic AI-empowered dynamic setup. It will enable First Hotels to acclimatize to any competitive ecosystem and make good pricing and rate distribution decisions. As such, after evaluating multiple service providers, we were confident that RateGain understands our needs and would be the best partner for us," said Pontus Mark, Director of Revenue Management, First Hotels.
Commenting on the partnership,Mark Haywood, SVP & Head of Europe, RateGain Technologies, said, "At RateGain,our goal is to unlock new revenue using AI-led products which enable our partners to take better control of their pricing strategy. Optima's easy to use UI and the ability to deliver real-time actionable insights would help First Hotels with day-to-day pricing decisions.In addition,Parity will be accretive as it identifies channels or properties facing maximum revenue loss due to parity issues. Together, Optima and Parity+ will help First Hotels maximize their revenue."
About RateGain
RateGain is a leading provider of SaaS products, which help travel and hospitality companies with cognitive revenue management, smart e-distribution, and brand engagement to make more revenue every day. For more information,visit https://rategain.com
About First Hotels
First Hotels is a leading collection of hotels with 33 unique hotels centrally located in Sweden, Norway, Denmark. First Hotels is proud to offer unique, personal service and modern comfort. First Hotels was established in 1993 and initially comprised six hotels located in Sweden.To know more visit https://www.firsthotels.com/
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SOURCE RateGain
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