Caesars Entertainment selects RateGain for Rate Intelligence; Stock soars 3%

21 Apr 2022 , 10:02 AM

RateGain Travel Technologies Limited (RateGain), a provider of SaaS solutions for travel and hospitality on Thursday announced that it has been selected by Caesars Entertainment, Inc. (Caesars), the largest gaming company in the United States, to provide real-time rate intelligence to boost hotel performance, profitability, and RevPar.

As part of the deal, Caesars will be implementing RateGain’s products OPTIMA, PARITY+, and Closed Loop rate parity (Test Reservation) across 50+ properties throughout the United States.

Caesars selected RateGain’s OPTIMA, which will provide real-time competitive intelligence. Its MarketDRONE Narratives feature will help every Caesars property get actionable insights to insure its industry leading position against sudden market changes.

Through an easy-to-use, multilingual platform, OPTIMA provides a large variety of channels to shop from, along with automated market insights helping Caesars’ revenue team with operational efficiency, including modern features lacking in other rate intelligence products in the market.

In addition, pricing teams will also detect revenue leakage to ensure Caesars is in sync with all its demand partners to offer the right prices across channels. Using closed-loop rate parity, the pricing team would validate any rate parity violations, helping build transparency and control the hotel chain’s pricing strategy.

Looking optimistic about the future of travel, Pavan Kapur, SVP, Commercial Operations for Caesars Entertainment, commented, “RateGain’s innovative products help us maintain competitiveness across all our markets by enabling our teams to make educated pricing decisions.”

Commenting on the partnership, Chinmai Sharma, President Americas at RateGain said, “The team at Caesars has always been a leader in identifying trends in the market and adopting them to provide their guests the best experience across every touchpoint. Delivering the right price for each property across every channel is a big part of that experience, and we are delighted that Caesars has selected us to help them improve pricing efficiency and margins in the new normal.”

At around 10:05 AM, Rategain Travel Technologies was trading at Rs376.05 apiece up by Rs11 or 3.01% on the BSE.