RateGain Selected by Mexico's Leading Hotel Chain Grupo Posadas to Bolster Recovery in Latin America
NEW DELHI, June 22, 2022 /PRNewswire/ -- RateGain Travel Technologies Limited (RateGain), a global SaaS company for travel and hospitality, has today announced that it has been selected by Posadas to drive profitability and recovery in the Latin America markets.
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 real-time rate pricing intelligence, parity monitoring and travel packages intelligence.
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, Grupo 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 optiize 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 forward-looking tools to support revenue recovery. The business intelligence tools from RateGain deliver easy-to-use 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."
Posadas is the leading hotel operator in Mexico and owns, leases, franchises and manages 185 hotels and more than 28,500 rooms in the most important and visited urban and coastal destinations in Mexico. Urban hotels represent 85% of total rooms and coastal hotels represent 15%. Posadas has traded on the Mexican Stock Exchange since 1992. For more information, please visit https://www.posadas.com/
RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with over 2200+ customers in over 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion. Founded in 2004 and headquartered in India, today RateGain works with Top 23 of 30 Hotel Chains, Top 25 of 30 Online Travel Agents and all the top car rentals including 8 Global Fortune500 companies.. For more information, please visit www.rategain.com