Hotels Food Archives - Page 10 of 22

The Power of Allyship: Building Bridges of Support and Inclusion

Pride Month is not just a time for the LGBTQ+ community to celebrate their identities, but also an opportunity for allies to educate themselves and advocate for equality. Allyship is a crucial pillar of support, and it plays a significant role in creating a more inclusive society for all. Let us delve into the importance of allyship, emphasizing the transformative power of education in fostering understanding, empathy, and acceptance.

Expanding Perspectives: The Role of Education

Education is the cornerstone of allyship. By seeking knowledge about the LGBTQ+ community, its history, struggles, and accomplishments, allies can develop a deeper understanding of the challenges faced by individuals with diverse sexual orientations and gender identities. Education serves as a catalyst for breaking down stereotypes, dismantling prejudices, and fostering a culture of acceptance.

Challenging Assumptions and Bias

Allyship involves critically examining our own assumptions and biases. It requires recognizing and challenging the societal norms that perpetuate discrimination and marginalization. Through education, allies can confront their own biases and prejudices, allowing for personal growth and transformation. This self-reflection is essential in creating a more empathetic and inclusive environment.

Creating Safe Spaces for Learning

As allies, we have a responsibility to create safe spaces for learning and dialogue. By fostering an environment where questions can be asked, experiences can be shared, and concerns can be addressed, allies can facilitate meaningful conversations. These spaces allow for the exploration of diverse perspectives, leading to increased understanding and empathy.

Using Privilege to Amplify Voices

Allies have the privilege of being heard and respected in various spheres of influence. This privilege can be utilized to amplify the voices of the LGBTQ+ community. By actively sharing stories, experiences, and achievements, allies can help combat erasure and promote greater visibility. This act of amplification contributes to a more accurate and nuanced understanding of the LGBTQ+ community.

Advocacy for Equality

Education empowers allies to become advocates for equality. Armed with knowledge, allies can challenge discriminatory practices, policies, and beliefs. They can engage in meaningful conversations with others, challenging misconceptions and promoting empathy. Allies can use their voices to advocate for equal rights and protections, both on an individual level and within broader societal structures.

Celebrating Diversity

Allyship involves not only acknowledging and accepting differences but celebrating them as well. Education allows allies to appreciate the diversity within the LGBTQ+ community, recognizing the intersections of race, ethnicity, religion, abilities, and more. By embracing this diversity, allies contribute to the creation of a more vibrant and inclusive society.

Pride Month serves as a reminder of the ongoing struggles and achievements of the LGBTQ+ community. As allies, it is our responsibility to educate ourselves, challenge biases, and actively advocate for equality. Through education, we can foster understanding, empathy and acceptance.

Let us use this Pride Month as an opportunity to reflect, learn, and commit ourselves to becoming better allies. Together, we can create a society where all individuals are valued, respected and celebrated for who they are.

Leveraging the Power of the Metaverse

Written by: Juliette Girardin

Event risk management is critical to ensuring the safety and security of attendees, personnel and the venue. It takes time and effort to identify, assess and mitigate possible risks to an event’s success. Yet, because most events are constructed over a few days and only happen once a year, it is difficult to think of all the possibilities. With the rise of the metaverse, the work of risk managers may become more effective and secure. The metaverse is a multi-user virtual area in which people can engage with each other and with virtual items in a completely immersive and interactive environment. The metaverse’s potential applications are numerous, and one area where it can be especially effective is in enhancing risk management in events.

The hospitality industry, particularly the events sector, is no stranger to risk management. Event organizers have to deal with a multitude of risks ranging from security, health and safety, financial, legal and reputational risks, among others. However, traditional risk management systems sometimes fall short because they rely on antiquated methods such as paper-based forms and checklists, which can be time-consuming and prone to errors.

The metaverse, on the other hand, provides a unique opportunity to enhance risk management in events by creating a virtual space where organizers can simulate and test different scenarios, identify potential risks and develop appropriate mitigation strategies. Here are some ways in which the metaverse can help improve risk management in events:

Virtual simulation and training

The metaverse can be used by event organizers to simulate various scenarios and test their risk management strategies. For example, organizers can simulate a fire or a terrorist attack and train staff on how to respond to such situations. This can help reduce the risk of panic and confusion during an actual event.

Real-time monitoring and response

The metaverse can also be used to monitor events in real-time, using sensors and other technologies to detect potential risks such as overcrowding, security breaches or equipment failures. This can help event organizers to respond quickly and effectively to any potential issues, minimizing the impact on attendees and the event itself.

Data analytics and risk modelling

The metaverse can serve as a platform for data analytics and risk modeling platform, allowing event organizers to analyze data from previous events and identify potential risks. This can help develop more accurate risk assessments and enable organizers to implement more effective risk management strategies.

Improved communication and collaboration

The metaverse can also improve communication and collaboration among event organizers, personnel and other stakeholders. By creating a shared virtual space, organizers can work together to identify potential risks and develop appropriate responses. This can help to ensure that everyone is on the same page and that risks are managed effectively.

In conclusion, the metaverse provides a unique opportunity to enhance risk management in events by creating a virtual space where organizers can simulate different scenarios, monitor events in real-time, analyze data, and improve communication and collaboration. By leveraging the capabilities of the metaverse, event organizers can develop more effective risk management strategies, ultimately creating safer and more secure events for attendees.

This blog post was awarded Second Place in the Spring 2023 HFTP/MS Global Hospitality Business Graduate Student Blog Competition presented by the HFTP Foundation. The blog posts that received the top scores will be published on HFTP Connect through July 2023. Learn more at HFTP News.

Juliette Girardin is a graduate student of the Master of Science in Global Hospitality Business, a partnership between the Conrad N. Hilton College of Global Hospitality Leadership at the University of Houston, the School of Hotel and Tourism Management at Hong Kong Polytechnic University and EHL.

A major hotel chain abandons San Francisco, blaming the city’s “clouded” future

Park Hotels & Resorts, one of the nation’s largest hotel real estate investment trusts, is pulling out of two hotels in downtown San Francisco, saying it lacks confidence in the city’s ability to overcome “major challenges.”

Park Hotels said that it has stopped making payments toward a $725 million loan backed by two of its San Francisco properties, the 1,921-room Hilton San Francisco and the 1,024-room Parc 55 San Francisco.

Both hotels are located near the Moscone Center, a conference venue that prior to the pandemic drew throngs of professionals to the area. San Francisco hasn’t fully recovered since COVID-19 shut down the economy in 2020, with many office buildings still largely empty as workers continue to work remotely. A rash of thefts last year and rising homelessness have caused some retailers to pull out of the city.

Thomas J. Baltimore, Jr., the chairman and CEO of Park Hotels, cited empty offices and reduced business travel as factors that have made owning the hotels untenable.

“Now more than ever, we believe San Francisco’s path to recovery remains clouded and elongated by major challenges,” Baltimore said in a statement this week.

He said the city’s challenges include: “record high office vacancy; concerns over street conditions; lower return to office than peer cities; and a weaker than expected citywide convention calendar through 2027 that will negatively impact business and leisure demand and will likely significantly reduce compression in the city for the foreseeable future.”

Both properties are expected to be removed from Park Hotels’ portfolio, which includes 46 hotels and resorts with more than 29,000 rooms.

Hit to business travel

Prior to the pandemic, San Francisco was a magnet for business travel. But since the crisis, event bookings have slowed down and foot traffic has receded.

In 2022, San Francisco will experience the steepest drop in revenue from business travel of any major metro area, according to data from the American Hotel & Lodging Association (AHLA). Revenue plunged nearly 69%, or $1.68 billion, compared to 2019.

To be sure, some businesses are still turning to the city for events, with JPMorgan holding its annual health care conference this year in the Union Square neighborhood after a two year pandemic-related hiatus. But other firms have canceled events, deterred in part by street conditions like graffiti and homelessness.

And some retailers have closed their San Francisco locations, citing crime and other issues. Whole Foods in April temporarily closed one of its flagship stores just a year after it opened, citing concerns that crime in the area was endangering its staff. Other retailers that have announced downtown closures include Nordstrom, Anthropologie and Office Depot, according to local station KRON.

Research Shows Hotel Guest Sentiments on Technology Have Improved Over Time

By: Agnes DeFranco, Minwoo Lee and Jihye Min

May 11, 2023 marked the end of the federal COVID-19 Public Health Emergency. Indeed, the pandemic has had an impact on the perception of technology usage among hotel guests. The need to safeguard hotel guests and employees during the pandemic accelerated the adoption and acceptance of various technologies in hotels. In 2020, HFTP sponsored a survey to gauge how guests view technologies in hotels. Now that the pandemic has officially ended, we thought an update on this topic would be of interest.

Over the last few years, many hotels adopted contactless check-in and check-out, allowing guests to easily bypass the front desk and use their smartphones to complete such tasks, reducing physical contact. Instead of sanitizing and recycling key cards, mobile key access via smartphones also reduces touchpoints. Inside the guest rooms, many technologies have also been upgraded such as voice-controlled assistants and smart devices for guests to control lighting, temperature and entertainment, without touching surfaces. Contactless payments have also gained popularity, minimizing the need for physical cash handling and again, reducing touchpoints during the payment process.

So, do guests like hotel technology better than before, or not? A total of 1,002 participants answered a survey in 2020 and 1,211 participants shared their opinions in 2023. Let’s take a quick dive and see if general sentiments have changed.

In terms of demographics, the most significant change revealed an increase of the 30-39 year age group from 18 to 31 percent of people who responded to the survey. In addition, 31 percent reported their most recent trip taken was in the last three to six months, with another 27 percent stating less than 3 months and 20 percent stating seven to nine months. Undeniably, travel is gradually coming back. While half of the participants in 2020 are members of loyalty programs, only 37 percent stated so in 2023. A typical stay is still two to three nights (58 percent in 2020, 62 percent in 2023), with upscale and upper upscale categories welcoming over 50 percent of the participants.

Drum rolls! The most encouraging part about technology in hotels can perhaps be summarized in this table of positive and negative statements regarding technology usage. With a scale of “1” = “Strongly Disagree” to “7” = “Strongly Agree,” a higher score is more preferred for the positive statements while a lower score is preferred for the negative statements.

POSITIVE STATEMENTS	Average Pre-Covid	Average Post-COVID
I am confident I can learn technology-related skills.	5.96	6.39
I am able to keep up with important technological advances.	5.10	5.67

NEGATIVE STATEMENTS	Average Pre-Covid	Average Post-COVID
I have difficulty understanding most technological matters.	2.77	2.11
When given the opportunity to use technology in hotels, I’m afraid I might damage it in some way.	2.80	2.54
I have avoided technology because it is unfamiliar to me.	2.84	2.15
I hesitate to use hotel technology for fear of making mistakes I cannot correct.	2.98	2.17
Technological terminology sounds like confusing jargon to me.	3.03	2.00
I feel apprehensive about using technology.	3.47	2.12

We have assuredly become more adaptable and technologically savvy during the pandemic. Hotel guests are more confident that they can learn technology-related skills, sending an already high score of 5.96 to 6.39. While keeping up with important technological advances was positive at 5.10 pre-COVID, that score also significantly improved to 5.67. Regarding the negative statements, while the scores ranged from 2.77 to 3.47, (good news in the pre-pandemic era), the scores for all six negative statements dropped to 2.00 to 2.54. This indicates our hotel guests are less negative about technology, experience less difficulty understanding most technological matters, and are generally not as apprehensive about using technology in our hotels.

The difference between the pre- and post-COVID scores are all statistically significant, indicating that these changes in sentiments are real and not likely due to chance.

A detailed white paper exploring voluntary hotel technology use among guests, their overall satisfaction regarding hotel technology, brand loyalty and changes in sentiment among subgroups will be published in July, following HITEC Toronto 2023.

So, enjoy HITEC in Toronto, where you can learn more about all the new technology there is to enhance the guest stay experience, as well as hotel productivity and profitability. And stay tuned for more research.

Agnes DeFranco, Ed.D., CHAE, CHE, CHIA, CAHTA is a professor and the Conrad N. Hilton Distinguished Chair, and Minwoo Lee, Ph.D., CHIA, CHE is an assistant professor, at the Conrad N. Hilton College of Global Hospitality Management, University of Houston. Jihye Min, Ph.D., CHIA, CAHTA is an assistant professor at the College of Merchandising, Hospitality and Tourism, University of North Texas in Denton, Texas.

Data & Analytics Help In Distributing Hotel Inventory

The Internet had an impact on almost every industry out there and how could the hotel industry be an exception to this revolution. Traditional booking mechanisms like phones and agents have been replaced by OTAs, brand websites, and other channels. Some channels are more profitable or we can say less costly than others are. Hotels have to continuously make sure that they are using the most profitable channel to sell their inventory to maximize revenues. Yielding and Pricing strategy has the prime role to play in determining which channel shall be used to maximize revenues. However, some hotel revenue managers fail to determine which channels have been major contributors to the revenue against the costs incurred on them.

Studies reveal that the cost of distribution has grown manifold as compared to revenues. This scenario can be detrimental to the health of the hotel industry in the long run and calls for hoteliers to adopt measures to control distribution costs. Some channels even charge up to one-third of the room price as commissions.

With so much to leave on the table, it becomes imperative for hotels to continually audit the performance and contribution of different channels to the revenue. Optimum hotel distribution not only affects financial health but also has a considerable impact on marketing strategies and technology required to maintain the sales data.

The hospitality industry becomes fiercely competitive when it comes to urban properties like resorts and penthouses. They are generally booked by high spenders and hence award opportunities for hoteliers to earn handsome returns on such big size bookings. This also calls for hotels to determine the channels that not only fetch the best room rates but also clinch high-spending guests. Evaluating these drill-down parameters can only reveal the right distribution channel that is most profitable in the true sense.

Various distribution channels ranging from call/walk-ins, Global Distribution Systems (GDSs) to diverse online channels like OTAs, metasearch sites, and social media have made the profitable hotel distribution task more complicated and complex than ever before. Successful hotel operation demands all three parties responsible for distribution, marketing and revenue to work together in close coordination to optimize pricing strategy, revenue generation and net profits.

Key Problems in Distribution

Let us discuss the key problems that hoteliers face in distribution and how they can use real-time search monitoring to address these challenges?

Inventory allocations
- Figuring how many rooms to be sold through which channel and when
  In times of high demand, revenue managers have enough room to experiment with different channels and manage to get away with decent revenues. However, in times of low demand and excess capacity, choosing the wrong or costly channel mix can bleed already lean revenues. Hotels may end up giving high commissions to OTAs even with slashed prices making it difficult to recover operational costs.
- Opportunities: Real-time monitoring of search traffic through major distribution channels
  Revenue management and distribution management are complementary to each other. They are committed to selling the right room, to the right customer and equally important, at the right time. This helps hotels earn maximum revenue from each channel. Hotels should monitor the performance of their distribution channels in real time so that they have a clear idea of hotel inventory availability enabling them to set the right prices on the right channel.
Real-time data for keeping track of demand
- Demand estimation and changing prices in real time
  The hotel industry clearly thrives on dynamic pricing. Higher the demand, higher the prices and vice versa. Hotels need to have a clear idea of their demand patterns so that they can change the prices proactively and not leave a single buck of revenue on the table. Moreover, hotels need to be equally vigilant so that their prices are reasonable and do not induce demand resistance among the target audience.
- Monitoring real-time search traffic for early warnings of high, low or abnormal demand flows
  As discussed earlier, hotels should be aware of market demand under all circumstances. Usually, the rise in demand at various times in the year aligns with the historical demand patterns. However, sometimes, hotel demand rises uncertainly due to an upcoming big conference or any event in the city. Hotels should monitor search data to keep a tap on any impending rise in demand. This provides hoteliers to proactively change their pricing to earn the maximum revenues out of every opportunity.
Negotiation strategies with OTAs
Identify OTAs that fetch the best guests, for the least commissions
Until now, OTAs contribute a maximum number of bookings for any hotel. There are “n” number of OTAs in the market for hotels to choose from. Selecting the right OTAs for hotel distribution can do wonders. An OTA that can get maximum bookings for least commission are the ones to be chosen. Evaluating search traffic can bring out surface stats as to which OTAs attract the maximum number of visitors. This can help hotels to shortlist OTAs to choose from.
These reasonable stats can help hotels negotiate the much painful commissions and establish grounds for demands by the OTAs. Not all OTAs work out well for any hotel and any hotel cannot rely on one OTA for all the bookings. Hotels need to tie up with different OTAs to assess which perform better and discard the ones that are less profitable.
Customer segmentation
- Identifying guest categories
  Guest is no less than Gods to hotels. They are the king and shall be dealt with appropriately. However, like fingers, not all guests are the same. They can be categorized according to different parameters, such as age, booking motives, such as leisure or business
  The hotel’s success depends much on their ability to deliver 1-to-1 personalized offers and services to each guest. However, there are many things the Revenue Manager can do to better understand the guests searching for a room, the context of the travel and the distribution channels being used. Insights about the purpose of the travel, such as leisure or business, families, singles or groups can be derived to offer more targeted offers.
- Use real-time search context to identify customer segments and improve offers
  With changing business models, up front it is not easy to figure out which bookings are business bookings and which ones are purely leisure, in fact, these days it is a mix of both (Bleisure). However, considering mid-week bookings as business and weekend bookings as leisure bookings can help in some way. This lets hoteliers come up with suitable packages at the right time for the right customer group, which fits in their budget thus increasing the number of bookings.

Hotel distribution is an intricate and painful staking process exposed to a myriad of market forces. We can decode some of the governing forces and develop strategies around them to utilize them for our benefit.

By the discussion above, our readers can clearly establish how search-based analytics can help hotels optimize the hotel inventory distribution game.

Unleashing the Power of Hotel Technology

In today’s digitally-driven world, the hospitality industry is increasingly leveraging cutting-edge technology to revolutionize guest experiences and streamline operations. From property management systems to online booking platforms, hotel technology plays a pivotal role in enhancing efficiency, personalization and overall guest satisfaction.

Let us delve into the diverse facets of hotel technology and how it is reshaping the landscape of the hospitality industry.

1. Property Management Systems (PMS) for streaming operations

Property management systems are the backbone of hotel operations, encompassing various functionalities like reservations, guest profiles, check-in/out, billing and more. PMS software automates and centralizes these processes, allowing hotels to efficiently manage their daily operations, improve guest service, and streamline communication across departments.

2. Hotel Channel Managers for optimizing distribution

With the rise of online travel agencies (OTAs) and other distribution channels, channel management tools have become essential for hotels. These systems enable hotels to efficiently manage room inventory, rates, and availability across multiple distribution channels, ensuring accurate and real-time updates. By optimizing their distribution strategy with the help of a hotel channel manager, hotels can maximize their online visibility, attract a broader audience, and increase bookings.

3. Online Booking and Mobile Apps for convenient hotel bookings

The proliferation of online booking platforms and mobile apps has transformed the way guests make reservations. With the use of mobile applications and online booking engines, hotels can empower guests to easily search, compare, and reserve hotel accommodations. These platforms provide a user-friendly interface, secure payment options, and real-time availability. They allow guests to explore room options, view images, check availability, and make instant bookings, enhancing convenience and accessibility for travelers, while boosting hotel revenue and occupancy rates.

4. Guest Experience Technology for enhanced guest experience and overall brand reputation

Hotels are increasingly leveraging technology to enhance the guest experience. This includes features such as self-check-in kiosks, mobile keyless entry systems, in-room automation, and personalized guest services through guest-facing apps. These advancements not only streamline operations but also provide guests with greater control, convenience, and personalized experiences during their stay.

The rise of mobile technology has further enhanced the way hotels engage with their guests. Mobile apps offer personalized experiences, allowing guests to check-in, access their rooms, request services, order room service, and provide feedback, all from the convenience of their smartphones. These innovations enhance guest satisfaction, loyalty and overall brand reputation.

5. Revenue Management Systems for creating better pricing and revenue strategies

Revenue management systems help hotels optimize their pricing and revenue strategies. By analyzing market demand, competitor rates, and historical data, these tools provide insights and recommendations to maximize revenue and profitability. Through dynamic pricing, hotels can adjust rates in real-time, ensuring competitiveness and maximizing revenue potential.

6. Data Analytics and Business Intelligence for more informed decision making

Hotel technology has given rise to advanced data analytics and business intelligence tools. These systems enable hotels to collect and analyze vast amounts of data, offering valuable insights into guest preferences, booking patterns, and market trends. By leveraging this data, hotels can make informed decisions, personalize offers, and implement targeted marketing strategies.

Learn How Accor Live Limitless Reached Active Travelers in their Desired Markets for Their Digital Campaign

The future of hospitality lies in harnessing the power of technology to create memorable experiences that resonate with today’s tech-savvy travelers. Embrace these advancements and unlock new revenue everyday.

RateGain Results for FY23 out; PAT Grows 8X YoY

Noida, May 19, 2023: RateGain Travel Technologies Limited (NSE: RATEGAIN), a global provider of AI-powered SaaS solutions for the hospitality and travel industry, today announced its financial results for Q4 & FY23 ending on March 31, 2023, reporting record revenues and profitability with robust growth and operational efficiency contributing to higher margins.

In an environment where most technology companies are dealing with both growth and cost pressures, RateGain continues to show robust revenue growth at 54.2% YoY to INR 5,651.3 Mn and substantial improvement in operating margins to 15.0% for FY2023, up from 8.3% in the prior year; on the back of operating leverage playing out and driving cost efficiencies across different businesses.

As the travel industry gets ready to move away from legacy technology and tap into the AI revolution powered by cloud, RateGain, one of the pioneers of AI and cloud technologies in travel and hospitality is emerging as a trusted partner for leading hotel chains and travel brands to leverage AI to transform their existing revenue management, distribution ecosystem as well as drive better outcomes from their marketing efforts.

With the advent of new LLM models and the increasing demand for hyper-personalization, travel and hospitality brands would need more data than ever before to deliver a seamless experience while controlling costs and improving ROI on their marketing and distribution efforts.

RateGain is well-positioned to capture this opportunity with over 370 billion data points consisting of travel intent, searches, and rate updates across 700+ partners including leading hotel chains, OTAs, airlines, and car rentals. The variety, volume, and scale of data processing as well as its reliable technology with up to 99.9% uptime makes RateGain ready to help the travel and hospitality industry leverage AI with accurate insights and unlock new revenue through seamless guest acquisition, retention, and wallet share expansion.

The company’s ability to innovate and consistently drive outcomes at scale for customers has helped in recording new contract wins of INR 1,308.0 Mn in FY2023 and has a healthy pipeline of INR 3,810.2 Mn as it goes into the new year.

For Q4FY23, the quarter ending March 31, 2023, compared to the same quarter last year the company reported:

Operating Revenue at INR 1,829.3 Mn v/s INR 1,078.8 Mn (+ 69.6% YoY)
EBITDA at INR 322.1 Mn v/s INR 153.6 Mn (+109.7% YoY)
PAT at INR 337.9 Mn v/s INR 116.1 Mn (+ 191.0 YoY)
EBITDA margin at 17.6% v/s 14.2/li>
PAT margin at 18.5% v/s 10.8%

For FY23 compared to the same period last year, the company reported:

Operating Revenue at INR 5,651.3 Mn v/s INR 3,665.9 Mn (+ 54.2% YoY)
EBIDTA at INR 845.6 Mn v/s INR 305.6 Mn (+177.0% YoY)
PAT at INR 684.0 Mn v/s PAT of INR 84.2 Mn (8.1x YoY)
EBIDTA margin at 15.0% v/s 8.3%
PAT margin at 12.1% v/s 2.3%

The company continues to have strong customer relationships that are helping in building predictive, stable and sustainable revenue streams. The Annual Recurring Revenue stands at an all-time high of INR 7,745.1 Mn and the LTV to CAC for FY23 came in at 21.3x which is 7x higher than the benchmark for SaaS companies.

Sharing his views on what helped in driving the performance this quarter, Bhanu Chopra, Founder and Chairman, RateGain Travel Technologies, said, “As we complete our first full year of listing, I would like to commend and congratulate the entire RateGain family on a record year. We continue to use AI capabilities to advance our mission of building an integrated tech stack that allows our customers to acquire guests, engage & retain them and have a wallet share expansion. The travel industry continues to witness strong demand across key geographies, we are well positioned to capture and partner with our clients to deliver innovative solutions to optimize their revenue strategy. With continued momentum across all business lines along and our continued investments into RG Labs specially in areas of AI and now Generative AI — we continue to lead digitization of the industry”

Commenting on the key metrics, Tanmaya Das, Chief Financial Officer, RateGain Travel Technologies, said, It has been a standout year for the company in terms of performance across all key areas contributing to record revenue with commendable margin improvement. This is a validation of the underlying business fundamentals and the value we continue to drive for our customers. We witnessed balanced growth across our three verticals with an improvement across all key metrics contributing to a stellar year, which is a true reflection of the efforts of the entire team. Adara integration continues on track, and we are pleased with this new addition to the RateGain ecosystem. With a strong pipeline across verticals, we are well positioned to deliver value to our customers and stakeholders.”

The company continues to add to its headcount and saw a 17.7% increase YoY with a total headcount of 713. With the expansion of the headcount, the company has also been able to reduce its attrition rate which currently stands at 21.1% by leveraging unique upskilling and learning programs to create new opportunities for existing employees.

RateGain also ended the year on a high by increasing its award tally to 13 for the year, being recognized across its people, products, and marketing practices. RateGain was recognized by SaaSBOMi, the leading community of SaaS founders in India as the SaaS Startup of the Year, as well as received recognition by Entrepreneuer.com for its founder, Bhanu Chopra as Founder of the Year.

About RateGain

RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with 2800+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.

RateGain today is one of the world’s largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business. 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 Fortune 500 companies in unlocking new revenue every day. For more information, please visit rategain.com.

Forward-Looking Statements

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential, and target dates for project-related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

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Ankit Chaturvedi
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Global Head-Marketing

Total Revenue Management and the Mi$$ed Opportunities

Written by: Katerina Papadima

Total revenue management is not a new concept, but it is one that hoteliers will embrace more for the years to come. To implement it, though, we first need to define it. What is total revenue management?