New Delhi: RateGain Travel Technologies Limited (RateGain), a global provider of SaaS solutions for travel and hospitality, announced today that Malco Enterprises of Nevada, Inc. (Malco), a leading Car Rental Company in Las Vegas, has selected RateGain to drive business recovery with the world’s first AI-powered revenue management platform – Rev-AI.
Malco has operated as Budget Rent A Car of Las Vegas since 1989, and is one of the largest car rental franchise for ABG in North America. The company operates in about 10 locations spread across Las Vegas, including the McCarran International Airport.
Car Rentals have been subject to extreme volatility since the onset of COVID19. While the segment was the quickest to recover in the industry, labor shortages, lack of automation, and unreliable historical data made it difficult for mid-sized and independent car rentals to identify revenue maximization opportunities at the right time.
RateGain’s Rev-AI platform will help Malco Enterprises leverage over 25 real-time demand indicators that provide hyper-local demand to clearly understand the market potential and adjust their pricing by car segment, channel, and location to reach their maximum revenue potential in a day.
Malco will also get a price optimization module to help them capture the extra market share through an AI-driven-price recommendation engine while giving visibility into their current revenue achievement in the ongoing Financial Year. In addition to understanding market demand, the forecast will also help identify dates that need attention while providing visibility into the demand and recommended pricing for the next 90 days to ensure Malco never loses an opportunity to maximize revenue.
Commenting on the partnership, Tom Mallo, Chief Executive Officer of Malco, said that, “When you are dealing with uncertainty, the ideal partner is one that can both provide real-time insights as well as a plan of action to use those insights to drive business recovery. With RateGain’s Rev-AI platform we get both with an additional advantage of a cutting edge platform powered by AI which makes it possible for every car rental to maximize revenue opportunity.”
Siddhartha Kothari, General Manager and EVP for Rev-AI, RateGain, added, “As the car rental industry recovers from COVID-19, we are certain that AI is going to be a critical enabler for addressing the gaps created by COVID and that is the core philosophy of Rev-AI. As a long time partner to Malco, we are delighted that they gave us the opportunity to partner with them on creating new revenue and build a world-class example of AI-powered recovery for other car rentals to follow.”
Rev-AI is integrated with all major industry partners, allowing independent operators and franchisees to start realizing the benefit instantly and bringing technology-powered transformation to your car rental revenue management. To learn more about Rev-AI, please visit www.rev-ai.io
RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with over 1400+ customers in over 100+ countries helping them accelerate revenue generation through acquisition, retention and wallet share expansion. 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 Fortune500 companies.RateGain is one of the world’s largest processors of electronic transactions and price points for the travel and hospitality industry and is the largest Software as a Service (“SaaS”) company in the hospitality and travel industry in India. It offers travel and hospitality solutions across a wide spectrum of verticals including hotels, airlines, online travel agents (“OTAs”), meta-search companies, vacation rentals, package providers, car rentals, rail, travel management companies, cruises and ferries.
For more information, please visit www.rategain.com
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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