Travel software-as-a-service player RateGain has introduced Navigator, a unified rate insights platform aimed at enhancing revenue management for the hospitality industry.
The platform is engineered to assist commercial teams in tracking demand, monitoring competition and resolving parity issues through a single interface, thereby optimising revenue per available room (RevPAR) and reducing manual workload.
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Commercial teams in hotels, which are becoming increasingly compact, are tasked with overlapping responsibilities across revenue management, distribution and marketing.
The launch of Navigator is set to reduce the burden of processing vast amounts of data from various sources, which has become a significant challenge for these teams.
This platform consolidates data, providing a single source of truth and enabling faster decision-making.
The modern traveller’s extensive online research across various devices and sites has fundamentally altered the booking process, creating a data-rich environment.
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By GlobalDataThis shift presents both opportunities and challenges for revenue teams, which require efficient tools to convert complex data into actionable insights.
Navigator is positioned to meet this need by eliminating the manual effort associated with traditional rate shopping tools, which often provide limited and inconsistent data.
Until now, traditional rate shopping tools have been offering a narrow perspective and necessitating additional efforts that can lead to missed RevPAR targets.
Hotels typically rely on website and social media data to gauge customer intent and manage parity manually, a process that is both time-consuming and inefficient.
Navigator is designed to overcome these challenges by providing revenue managers with the insights necessary to stay competitive and meet revenue goals.
The platform tracks an extensive range of data, including more than 150 billion searches and 60 million bookings, sourced from over 1,100 channels, including more than 700 global and regional online travel agencies, meta sites and partner sites.
It transcends traditional rate shopping tools by incorporating a robust suite of features that leverage advanced analytics and artificial intelligence.
It also empowers commercial teams with three key capabilities, including Demand Navigator for accurate demand prediction and trend analysis, Rate Navigator for rate trend analysis and pricing strategy insights, and Parity Navigator for monitoring rate parity and tracking discrepancies across channels.
RateGain Travel Technologies founder and managing director Bhanu Chopra said: “With Navigator, we are providing the revenue team managers with a holistic solution that addresses their evolving needs.
“We understand that they require more than just rates to achieve increased RevPAR. Navigator bridges this gap by offering unparalleled intel and helping them navigate through complex market dynamics.”
Earlier this month, HotelKey chose RateGain Travel Technologies to strengthen its distribution capabilities.
