LONDON, Nov. 19, 2019 /PRNewswire/ -- RateGain, the #1 SaaS player in travel and hospitality, today announced the launch of VR Gain, an innovative solution set created to address the challenges of the vacation rentals (VR) industry. The VR industry, with close to 800 million users and 1,15,000 VR companies worldwide, remains largely unorganized, making it difficult for revenue management, distribution, and marketing teams in both VR companies and demand partners to plan and execute strategies to unlock additional revenue.
Some of the challenges in the VR industry are:
- Increased competition from new entrants: Largely dominated by two players till a few years ago, demand from travelers have seen new international and local players emerge
- Low Occupancy rates: New Supply has softened demand, with occupancy rates averaging at 37%. With pricing being a decisive factor, demand partners with more competitive prices get access to more supply.
- Lack of Benchmarking and price intelligence tools: Property name and address (Lat/Long) are not specific, mapping automation on name and address or Lat/Long matching is not feasible, SEO on individual listing is not sufficient, making listing a manual process that cannot be scaled
- Limitations in the identification and sourcing of new supply, requiring a substantial investment of time and resources without commensurate results.
- Most channel managers and switches are not suitable to meet the unique demands of this industry
RateGain's innovative AI-powered solution VR Gain will be the only end-to-end platform that will allow VR companies to leverage the following solutions:
- Get competitive price intelligence from over 240 billion price points and 1000+ demand sources to monitor other vacation rentals as well as competing independent hotels, apartments, etc. using proprietary image mapping technology
- Get a clear picture of exclusive versus common listings versus their competition
- Select the right set of listing for price competitiveness audits
- Get access to 3.4 Mn inventory from across the world
- Connect instantly to the largest demand network of over 1500+ channels in the world through RateGain's smart distribution platform
Harmeet Singh, CEO, RateGain, commented, "Unlike traditional hospitality, the vacation rental industry has witnessed tremendous growth across the world with no defined standardization making it an interesting problem for RateGain to solve. After six months of R&D and successful pilots with few of the largest OTAs, we are confident that our solution will be able to address the challenges of both supply and demand partners looking to emerge as a leader in their respective markets."
About RateGain:
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 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.
