RateGain's OPTIMA Releases MarketDRONE Narratives to Help Hoteliers React Faster to Market Volatility
RateGain Technologies, a provider of SaaS solutions for travel and hospitality, announced today the launch of MarketDRONE Narratives, an update to its real-time rate intelligence SaaS solution for hotels, OPTIMA. Through this update, RateGain aims to transform how revenue managers plan and tackle market volatility on an everyday basis.
On a daily basis revenue managers spend considerable time manually sourcing data and identifying critical insights that impact their market position. However, with increasing demand channels, last-minute travel plans, and the ongoing volatility, most revenue managers are pressed for time to get these insights on demand to mitigate inaccurate and incomplete analysis that drives revenue maximization.
MarketDRONE Narratives provides clear actionable insights, shared every time there is a change in the market, helping revenue and pricing managers know exactly how to position ones revenue strategies for the day to mitigate any loss of market share while increasing RevPAR. Revenue and pricing managers will now save critical time that was earlier spent in collating and analyzing data, allowing them to take the lead in attracting more guests and increasing revenue.
Narratives are generated based on change hints using a mix of distribution and market supply data combined with competitive rate shopping data across Hotels and OTAs. It generates personalized insights using all these data points with customized thresholds for each of the hotels that they can configure to get the most relevant insights for tailoring their strategies. RateGain developed these narratives by consulting our customers, industry experts to understand insights that are most vital to make better strategies.
Over the last few years, RateGain has focused on solving the problem of collecting and providing accurate real-time data for hoteliers through updates to OPTIMA such as pricing playground and lightning refresh. However, with the volatility introduced in pricing since the pandemic, hoteliers don't only need real-time data but also instant insights which are powered by Narratives.
Commenting on the launch, Harmeet Singh, CEO, RateGain, said, "As one of the largest aggregators of data in our industry, RateGain is committed to listening to our customers who have clearly stated the need to evolve rate intelligence solutions. MarketDRONE Narratives is a step in that direction where we continue to push innovation and help our customers move faster every day to unlock more revenue. We will continue to evolve and add more depth to this product such as providing insights on Parity and Events Intelligence to help our customers get all the insights they need instantly. "