RateGain to acquire myhotelshop – hotelbusiness.com
RateGain Travel Technologies Limited, a provider of SaaS solutions for travel and hospitality, has entered into a definitive agreement to acquire myhotelshop, a company incorporated in Germany, which provides a platform to help hotels improve the direct acquisition of clients. Together, myhotelshop and RateGain will now give hotels the ability to reach more customers with higher returns, the companies report.
The deal is in line with RateGain’s mission to become the premier revenue maximization platform for the hospitality and travel industry. COVID-19 has accelerated the digitization of customer interactions with Phocuswright reporting that nine in 10 travelers engage in online travel. Research also shows that most travelers don’t shop and book from the same source, with the majority of online shoppers searching OTAs and booking through hotel websites. Amid multiple channels, including middlemen, meta-searches, and OTAs, hotels struggle to create the optimal distribution strategy that helps them drive more bookings and lower acquisition costs, according to the clients. companies.
This increases the need for hotels to move away from disparate systems and have a single vendor who can help them better control guest acquisition and reduce reliance on a single channel. myhotelshop offers a reporting, offer management and campaign intelligence platform for publishers of metasearch and other travel products that enables hotel suppliers, OTAs and agency clients to reach more customers with higher returns.
“We are delighted to welcome [CEO/founder] Ullrich [Kastner] and the myhotelshop team to the RateGain family, ”said Bhanu Chopra, founder of RateGain. “The merger will help address a key challenge facing the industry in the post-COVID world that is experiencing increased digitization. The need to go digital first is becoming more and more chaotic and we aim to simplify the management of the acquisition strategy of hotels and enable them to unlock new revenue.
Kastner added, “With RateGain, we have found a partner who helps us evolve our technology and business model on a global scale while keeping our brand and corporate culture as it is. Our people, clients and partners rely on us staying who we are, just as it is important to them that we keep our growth path, to stay ahead in the meta and online marketing space for hotels. We aspire to be the leading marketing software for individual hotels and mid-sized chains and the merger with RateGain will help us to further enhance this vision within a solid technological framework.