RateGain to drive business recovery of Malco Enterprises of Nevada with world's first AI-powered revenue management platform

24 Jan 2022 , 02:53 PM

RateGain Travel Technologies Limited (RateGain), a global provider of SaaS solutions for hospitality and travel, announced that Malco Enterprises of Nevada, Inc. (Malco), a leading Car Rental Company in Las Vegas, has offered RateGain to drive business recovery with the world’s first AI-powered revenue management platform — revAI.

Marco has been operating as a Budget Rent A Car in Las Vegas since 1986 and is among the top players in operating car rental franchises for ABG in North America. Marco operates in 10 different locations around Las Vegas, including McCarran International Airport as the center point. Car rentals witnessed a steep decline in business since the covid 19 outbreak, however, it was the quickest to recover in the industry among the biggest players.

Siddhartha Kothari, General Manager and EVP for revAI, RateGain, added, “As the car rental industry crawls to recovery from COVID-19, we are certain that AI will address the gaps created by COVID, and that is the core philosophy of revAI. As the company is associated with Malco for a long-time, we are delighted that they extended us the opportunity to partner with them on creating new revenue and build an exemplary AI-powered recovery for other car rentals to pursue.”

RateGain’s revAI platform will aid Malco Enterprises leverage over 25 real-time demand indicators that will enable hyper-local demand to precisely understand the market potential and adjust their pricing by car segment, channel, and location to reach their maximum revenue potential in a day, stated the company in its filing.

“When you are dealing with uncertainty and ambiguity, the ideal partner is one that can both provide real-time insights as well as a plan of action to manoeuvre those insights to drive business recovery. With RateGain’s revAI platform we get both with an additional benefit of a cutting-edge platform powered by AI which enables every car rental to maximize and streamline revenue opportunity,” commented on the partnership, Tom Mallo, Chief Executive Officer of Malco.

RateGain is currently trading at Rs400.40 down by Rs31.15 or 7.22% from its previous closing of Rs431.55 on the BSE.

The scrip opened at Rs431.55 and has touched a intraday high and low of Rs433.10 and Rs385 respectively.