The AI-powered Forecast will help Marketing leaders across Hotels and Destination Marketing Organizations drive higher Return on Ad Spends (ROAS)
NEW DELHI, Aug. 9, 2022 /PRNewswire/ — RateGain Technologies, a leading provider of SaaS solutions for travel and hospitality, announced today the launch of Airline Travelers’ Forecast, a new module of Demand-AI, RateGain’s AI-powered Demand Forecasting Solution for the travel and hospitality industry.
With Airline Travelers’ Forecast, marketing leaders and commercial organizations in hotels can optimize their ad spends across both offline and online channels to drive higher returns in a tough macro environment where the industry is dealing with high input costs and looking to reduce their marketing spends.
Airline Travelers’ Forecast is part of RateGain’s Demand-AI solution launched last year to help the industry tackle the problem of unreliable historical data to forecast demand using real-time intent data gathered from searches, events, and forward-looking data such as hotel and airline bookings.
With Airline Travelers’ Forecast, marketing teams can optimize their campaigns and take corrective actions based on an accurate understanding of the actual number of travelers, source market mix, and the demand from these markets over the next 90 days.
In addition, marketers will also be able to see a detailed view of the scheduled flights and charters driving this demand, day-wise break down to understand high impact/travel dates, and compare airfare and hotel ADRs with historical data.
The insights are critical for marketing teams to change their targeting, personalize their creatives for a specific market, and make new promotions based on the type of audiences to drive higher returns.
The forecast will also help Destination Marketing Organizations, to use the insights to gain market share against competing destinations, targeting the same source markets and allocating marketing budgets accordingly.
Airline Travelers’ Forecast derives insights from Demand-AI which ingests data from over 25 sources across hotels, airlines, car rentals, and OTAs from RateGain’s proprietary data lake combined with forward-looking data.
Hoteliers using the forecast are already able to see an estimated forecasting accuracy of 90% – helping them maximize their revenues by planning targeted promotions based on source markets information and control their acquisition costs by reducing spends during high-demand periods.
Commenting on the launch, Bhanu Chopra, Founder, RateGain, said, “Hotels are working hard to engage travelers with limited budgets and insights. Our Airline Travelers’ Forecast solves this problem and goes a step ahead by providing a level of granularity that marketing and commercial teams were unable to leverage for making decisions – once again proving RateGain’s commitment to understanding the industry’s needs and solving them with AI.”
RateGain Travel Technologies Limited is a global provider of SaaS solutions for travel and hospitality that works with over 2200+ customers in over 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion. For more information, please visit https://www.rategain.com
Disclaimer: The above press release comes to you under an arrangement with PR Newswire. Business Upturn takes no editorial responsibility for the same.