Dallas, Texas-based hospitality and travel technology company RateGain today unveiled its new Smart Distribution platform at the HEDNA Madrid, a global distribution conference in Spain.
The product will reportedly revolutionise the hotel distribution vertical, providing hoteliers with the ability to discover and receive recommendation on new demand opportunities, auto contract with new channels, and set up content and automatically map product on new channels and solve for many other ailments, which traditionally have been issues with electronic distribution.
The platform uses artificial intelligence and machine learning technology to understand and optimise source markets and channels, benchmark with similar hotels and automate and innovate in terms of self-service and advanced room mapping. RateGain predicts that the solution will give its users an edge in an industry that, due to the rise of alternate accommodation like AirBnb, can expect to come under increasing pressure to more effectively manage availability and rates, competition, uncovering demand and distributing their inventory on the channels that are most profitable.
"Our Smart Distribution solution is a direct response to challenges faced by hoteliers of every size every day. All our partners from independent hoteliers to hotel chains have been telling us for some time that connectivity alone does not solve the biggest obstacles they face in distribution and in optimizing their revenue streams. We have co-developed and validated Smart Distribution with some of our key forward looking customers and are proud to offer it to the world. We are rolling it out with a few of our key customers and getting a very positive response," said Chinmai Sharma, President of Distribution at RateGain.
The global hotels industry was valued at approximately US$147.57bn in 2018 and is expected to generate around $211.54bn by 2026, at a CAGR of around 4.6%, according to a 2019 report by Zion Market Research.
With 1,25,000+ properties on board and over 1,000 channels connected including OTAs, GDSs, Tour Operators and TMCs, RateGain is a leader in the hospitality distribution landscape and the number one provider of software as a service solutions to the travel and hospitality industry.