At a Glance
RateGain launches Demand.AI to track hyper-local city demand, optimize commercial strategy and ensure better ROI for businesses in the hospitality and travel industry
RateGain Technologies, a company offering solutions for the hospitality and travel industry, recently launched Demand.AI, a SaaS solution leveraging AI to help businesses track hyper-local city demand, a press release from RateGain said.
RateGain stated that the ongoing pandemic exacerbated the situation for businesses to plan for the future, making it more challenging for industries depending on tourism to drive revenues. It has created an anomaly in demand forecasting by causing disruptions in historical data, causing difficulties in predicting demand for the subsequent months.
RateGain stated that Demand.AI would solve this problem by providing a demand index, ranked from 0 to 100, for cities and help them understand how demand is evolving over 75 days. It enables users to track demand for each locality in the town, using a map-view or a table view to compare which locality in each city will see higher demand. Additionally, users could also understand the type of demand in the city, the popular booking patterns and its reflection on hotel and vacation rental bookings.
RateGain, founded in 2004, helps companies in the hospitality and travel technology solutions in managing revenue, rating intelligence and brand engagement among others. Bhanu Chopra, founder of RateGain, stressed that with Demand.AI, RateGain is committed to making the future of travel clear and straightforward by helping travel-related businesses recover from the pandemic. Demand.AI would also optimize businesses’ commercial strategy and strive towards ensuring better ROI.
“We know that today Tourism, directly and indirectly, creates 1 in 4 new jobs in the world according to WTTC. However, the inability of businesses to understand future travel demand and its impact on them creates poor customer experiences and lost revenue opportunities to recover from the pandemic impacting sustainable job creation,” Bhanu added.