Press Release: July 17, 2019
RateGain Technologies, the market leader in providing business intelligence, distribution and guest experience cloud for hospitality and travel companies, is partnering with Red Roof®, the leader in economy lodging, providing vital pricing insights and helping maintain price parity across various OTAs and third-party booking platforms.
Red Roof will leverage RateGain’s new-age price intelligence and rate shopping solution, Optima and advanced rate parity tracking solution, Parity+. Red Roof will now be able to easily monitor third-party platforms, as well as mobile sites, using Optima’s real-time intelligence, allowing management of parity across all third-party platforms, and providing guaranteed best rates to loyal guests.
“After an extensive review process, we selected RateGain to leverage their powerful solutions that will support our business with accurate data to build the right pricing strategy across all third-party platforms,” notes Timothy R. Wiersma, Vice President Revenue Management, Red Roof.
Maintaining rate parity is a core part of the Red Roof brand promise. The company chose Optima and Parity+ because of RateGain’s strong track record and capabilities in this area. Powered by dataSURE, Optima provides data with 98% sufficiency levels serving Red Roof with forward-looking data and analytics they can trust, which subsequently impacts RevPAR performance.
“The hospitality industry is witnessing both growth and intense competition at the same time. Our AI/ML-based pricing solutions will provide Red Roof with the capability to strategically price their room inventory to drive bookings and maintain rate parity,” says Chinmai Sharma, President, RateGain.
RateGain is the #1 provider of SaaS products, which help travel, and hospitality companies make more revenue every day. RateGain offers products, which help with rate intelligence, cognitive revenue management, smart e-distribution, and brand engagement. RateGain is proud to support 125,000+ hotel properties globally influencing 13 Bn $ revenue by providing 240 billion rate and availability updates & powering over 30 Million bookings. RateGain is trusted by 25 out of the top 30 OTAs, tour operators and wholesalers, 23 of the top 30 hotel chains, 7 out of the top 10 car rental companies, top 5 cruise lines, and many leading airlines worldwide. In 2018, RateGain acquired DHISCO, which made it the only company in the world to offer end-to-end smart distribution. In June 2019, RateGain acquired award-winning BCV to offer guest experience cloud to maximize guest lifetime value for hospitality chains. For more information, visit www.rategain.com
About Red Roof®
Red Roof is an award-winning leader in the lodging industry with franchises, corporate managed and corporate owned properties, recognized for creating the innovative Upscale Economy® segment serving millions of guests each year. Known for obsessively listening to consumers, Red Roof offers travelers a consistently high-quality experience at an affordable price. With coast-to-coast locations, Red Roof has over 600 properties in the U.S. and has expanded internationally to Brazil, Canada and Japan. Whether business or leisure, short trips or extended stays, in the hearts of cities or on the road, Red Roof has a property for every traveler, delivering an enhanced experience at a value price. Red Roof is pet-friendly, as one well-behaved pet is welcome per room, nationwide, at no additional cost*. Ranging from economy to upper midscale, Red Roof’s portfolio of brands includes: Red Roof Inn® and Red Roof PLUS+®, allowing guests to Sleep Easy. Spend Less®. with enhanced amenities at a value price; The Red Collection®, a hyper-local soft brand in the Hearts of Cities You Love™; and Home Towne Studios by Red Roof®, offering guests A Brand New Way to Extended Stay™. Red Roof offers franchisees Genuine Relationships. Real Results. ® – a unique owner-operator experience establishing common ground with franchisees. To join Red Roof’s industry-leading loyalty program, RediRewards™, or for reservations, visit redroof.com or call 800.RED.ROOF.
*Pet accommodations policy may vary at some Home Towne Studios by Red Roof locations.
Certain statements in this release are forward-looking statements, which involve some risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words ‘planned,’ ‘expects,’ ‘believes,’’ strategy,’ ‘opportunity,’ ‘anticipates,’ ‘hopes’ or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, data services and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptance of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages.
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