RateGain Travel Technologies was up 4 percent in the afternoon trade on February 23 after announcing a partnership with HotelKey, a cloud-based property management platform for hotels.
The partnership is expected to integrate RateGain’s global distribution, central reservations, and pricing capabilities with HotelKey’s PMS platform.
The integration will roll out across HotelKey’s portfolio of more than 4,000 properties, with hundreds of properties already accessing the combined capabilities, the company said in an exchange filing.
RateGain Travel Technologies is a SaaS platform serving the hospitality and travel sector and catering to pricing, channel and brand intelligence etc.
“The HotelKey-RateGain partnership moves in the direction of providing a one-stop-shop for hoteliers looking for better ways to run their properties, train their employees, and maximise pricing, distribution, and revenue,” said Chinmai Sharma, President of the Americas at RateGain.
HotelKey is a property management system for the hospitality industry, offering real-time access to key performance indicators (KPIs) like occupancy, analytics and revenues. Its client portfolio includes roughly 4 lakh rooms live and over 4,000 properties live, including 500 independent hotels around the world.
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“RateGain is an unparalleled innovator, and bringing their revenue-generating capabilities to HotelKey’s intuitive property management system is a huge plus for hotel owners and operators. We look forward to accelerating our partnership in the months ahead,” HotelKey co-Founder and president Aditya Thyagarajan said.
In Q3FY23, RateGain reported an exponential rise in net profit at Rs 13 crore compared to Rs 9 lakh in Q3FY22. Operational revenue also grew 40 percent YoY to Rs 138 crore, while margins saw sequential improvement, expanding to 16.5 percent in Q3FY23 compared to 14.1 percent in Q2FY23.
At 12.27 pm, RateGain Travel, which has gained approximately 12 percent in the last year, was trading 4.12 percent higher at Rs 359.15 on the National Stock Exchange.
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