RateGain teams up with FLYR to offer AI-based solution for hotel industry

Noida-based RateGain Travel Technologies Limited (RateGain), a provider of software-as-a-service (SaaS) solutions for travel and hospitality, has teamed up with artificial intelligence (AI)-powered travel technology provider FLYR to offer a comprehensive solution for hotels looking to enhance their revenue.

This partnership combines RateGain's channel management and distribution solutions with FLYR’s AI-powered Revenue Optimization System (RMS). The goal is to make things easier for hotels by providing an integrated system, eliminating the need to navigate through multiple platforms. This not only improves operational efficiency but also reduces costs while offering accurate insights.

In a regulatory filing, RateGain informed that through this collaboration, commercial teams at hotels using FLYR will have easy access to real-time market data, competitor rates, and various points of sale, all within the Revenue Management Systems platform. The integration also includes RateGain’s Navigator, a rate insights platform that enhances user experience with features like cluster views, identification of high-demand dates, and machine learning capabilities to address data sufficiency issues.

Peter Strebel, President of Americas at RateGain, highlighted the need for holistic solutions in the current market, emphasizing that FLYR's expertise in AI and commercial optimisation tools complements RateGain's capabilities. This collaboration aims to provide hotels with better data, improved functions, and faster access to the latest rate shopping features, unlocking new profitable opportunities for hoteliers.

Jens Munch, CEO of FLYR Hospitality, expressed confidence in the partnership, stating that combining strengths will result in successful outcomes for hotels seeking to maximise revenue. The cloud-based solutions offered by both companies are now available to all existing and new customers, promising a streamlined revenue management process, improved efficiency, and enhanced performance. The partnership reflects the shared commitment of RateGain and FLYR to providing solutions that drive success in the hospitality sector.

A report published in December last year by global consultancy firm Accenture estimated that AI could potentially double annual economic growth rates by 2035. This has been validated by a study by PwC estimating that AI could add $15.7 trillion to the global economy by 2030.