The Canadian hospitality leader will use OPTIMA to maximize revenue and provide better returns to partners
New Delhi, July 01, 2019: : RateGain Technologies, the market leader in providing guest experience cloud, cognitive revenue management and smart distribution solutions for hospitality and travel companies today announced that it had been chosen by Westmont Hospitality Group, one of the largest privately-held hospitality companies, for its next-gen, real-time rate intelligence solution, Optima.
The integration would allow the group to gain valuable insights by tracking competition across multiple channels and sources including OTAs, meta-sites and other third-party platforms as well as mobile-only rates.
Under the partnership, Westmont Hospitality Group would gain access to real-time rates through OPTIMA powered by dataSURE that assures 98% data sufficiency levels, which would allow them to adjust their prices in real-time and also ensure and maintain rate parity across all channels impacting RevPAR positively.
In addition to this, Optima, the powerful rate shopping solution will help the revenue managers at Westmont to leverage many industry-leading features, such as Lightning Refresh that gets fresh rates in 60 seconds, a dynamic pricing playground that helps to easily track the subscriber hotels’ market position v/s competition across all properties as well as track their promotions with the advanced rate tagging engine.
Commenting on the partnership, Apurva Chamaria, Chief Revenue Officer, RateGain Technologies, said, “At RateGain, our goal is to unlock new revenue every day by making it easy for revenue managers to take control of their pricing strategy. Optima’s easy to use UI and ability to gather real-time rates powered with actionable insights aims to achieve this goal for Westmont. We are certain that Westmont will start realizing these benefits instantly and help them drive higher levels of efficiency and ultimately achieve the goal of revenue maximization.”
According to Patrick Grimes, Regional Director of Revenue at the Extended Stay Division of Westmont Hospitality Group, “Westmont works across the globe with various leaders in hospitality managing assets with a unique business plan to ensure best returns. As competition in the space increases with the rise of alternative choices, the landscape becomes more dynamic. After evaluating multiple service providers, our team was confident that RateGain understands this and has displayed a dedicated approach to drive revenue maximization, with its revenue management solutions. We believe that Optima’s solutions will help provide needed market information and deliver value every day.”
RateGain is the #1 provider of SaaS products, which help travel, and hospitality companies make more revenue every day. RateGain offers products, which help with rate intelligence, cognitive revenue management, smart e-distribution, and brand engagement. RateGain is proud to support 125,000+ hotel properties globally influencing 13 Bn $ revenue by providing 240 billion rate and availability updates & powering over 30 Million bookings. RateGain is trusted by 25 out of the top 30 OTAs, tour operators and wholesalers, 23 out of the top 30 hotel chains, 7 out of the top 10 car rental companies, top 5 cruise lines, and many leading airlines worldwide. In 2018, RateGain acquired DHISCO, which made it the only company in the world to offer end-to-end frictionless distribution. In June 2019, RateGain acquired award-winning BCV to offer guest experience cloud to maximize guest lifetime value for hospitality chains.
For more information, visit www.rategain.com
About Westmont Hospitality Group:
Westmont Hospitality Group is a hospitality management company based in Ontario, Canada. Founded in 1975, the company owns and manages a large number of hotels across North America, Europe and Asia, ranging from budget and aparthotels to mid-market business and large conference hotels to boutique hotels and luxury resorts. Westmont holds strategic alliances with many of the world’s largest hotel brands. These include Fairmont, InterContinental Hotels Group, Hilton, Accor, Starwood, Wyndham, Choice Hotels, Renaissance, Radisson and Best Western.
For more information, please visit www.whg.com.
Forward-Looking Statement: Certain statements in this release are forward-looking statements, which involve some risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words ‘planned,’ ‘expects,’ ‘believes,’’ strategy,’ ‘opportunity,’ ‘anticipates,’ ‘hopes’ or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, data services and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptance of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages