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RateGain Travel Technologies Limited, a provider of SaaS solutions for travel and hospitality, has entered into a definitive agreement for the acquisition of myhotelshop, a company incorporated in Germany, which provides a platform to help hotels improve direct guest acquisition.
Fremont, CA: RateGain is a global SaaS provider for the hospitality and travel industries, providing travel and hospitality solutions that generate new revenue every day. It is one of the world's largest data point aggregators for the hospitality and travel industries.
RateGain Travel Technologies Limited, a provider of SaaS solutions for travel and hospitality, has entered into a definitive agreement for the acquisition of myhotelshop, a company incorporated in Germany, which provides a platform to help hotels improve direct guest acquisition. Together, myhotelshop and RateGain will now enable hotels to reach more customers while earning higher returns.
The agreement is consistent with RateGain's goal of becoming the leading revenue maximization platform for the hospitality and travel industries. According to Phocuswright, 9 out of 10 travelers engage with travel online as COVID-19 accelerated digitization of customer interactions. As per the research, the majority of travelers do not shop and book from the same place, with the majority of online shoppers searching on OTAs and booking on hotel websites.
In the midst of multiple channels such as intermediaries, metasearch, and OTAs, hotels are struggling to develop the best distribution strategy that will help them drive more bookings while lowering acquisition costs.
This increases the need for hotels to transition away from disparate systems and toward a single provider who can assist them in gaining better control over the guest acquisition and reducing reliance on a single channel. Myhotelshop provides a reporting, bid management, and campaign intelligence platform for metasearch publishers and other travel products, allowing hotel suppliers, OTAs, and agency clients to reach more customers while earning a higher return.
Commenting on the agreement Bhanu Chopra, Founder, RateGain stated, "We are delighted to welcome Ullrich and the myhotelshop team to the RateGain family. The merger will help in addressing a key challenge that the industry is facing in the post-COVID world that is witnessing increased digitization. The need to become digital first is increasingly becoming chaotic and we aim to make it simpler for hotels to manage their acquisition strategy and enable them to unlock new revenue."