RateHawk reveals 2024 business results with 67% bookings growth
RateHawk, an online B2B system for booking hotels, air tickets, and transfers for travel professionals, celebrates 9 years of operations and reports strong growth in its business results over the past year. In 2024, RateHawk's net booking value increased by 1,8 times compared to 2023, while the number of bookings saw a 67% growth on a global scale. Its parent company, UAE-based Emerging Travel Group, has hit a new milestone of $3.7 billion gross transaction value in 2024, with RateHawk as a major growth driver.
In 2024, RateHawk continued to develop the variety of its inventory. The company successfully connected with more than 70 new global accommodation suppliers, exceeding 300 wholesalers worldwide, and established direct contracts with over 34,000 accommodations, counting up to 120,000 properties in total. As a result, the amount of accommodation options reached over 2.6 million.
The demand for RateHawk's transportation booking services, including flight tickets and transfer bookings, doubled during 2024. The company also introduced train travel service across Europe which was welcomed with great enthusiasm by RateHawk partners. Within three months of its launch, over 25% of travel professionals who frequently book hotels on the platform have also utilized its railway services.
'According to the latest UN Tourism report, 1.4 billion people travelled internationally in 2024, almost reaching pre-pandemic levels. At RateHawk, we have been witnessing this trend firsthand through increased demand and significant growth in our company's and partners' businesses', Felix Shpilman, President and CEO of Emerging Travel Group, RateHawk's parent company, commented. 'We're proud to deliver unparalleled support to our partners during this exciting period of travel industry growth, developing both platform services and API integrations. In 2024 alone, we doubled the number of API integration contracts, partnering with over 500 new entities including Ctrip. This year, we aim to maintain this momentum, focusing on OTAs and innovative travel tech platforms.'
In 2024, the service was localized in 8 more languages, bringing the total to 32. RateHawk also launched a new headquarters in Singapore, strengthening its position in the Asian region and its relationships with local partners.
RateHawk's partners increased by 50%, now over 93,000 travel professionals worldwide. In the Gulf Cooperation Council (GCC) region, the company tripled the number of travel agents connected to the platform, reaching over 8000 professionals.
According to RateHawk, the most popular outbound destinations booked by travel agents from the GCC region in 2024 were Turkey, Thailand, Italy, France, the United Kingdom, Spain, Egypt, Georgia, and Switzerland. The top 5 domestic destinations were Dubai, Riyadh, Mecca, Doha, and Jeddah.
'In 2024, our business in the GCC region demonstrated a 3.3 times increase in net booking value year-over-year. We were also proud to pick up the award for Online Travel Agency (OTA) of the Year in the UAE in the TDM Travel Trade Excellence Awards 2024', shared Serkan Ozbay, Regional Director in the Middle East region. 'Our business growth illustrates the strong response from local travel professionals to our technological solution, as well as the remarkable potential of this market. Research indicates that outbound tourism from the GCC region is poised for substantial growth over the next five years, with an increasing trend in luxury traveling. We believe that our extensive inventory, which includes a wide range of accommodation options of all pricing categories, will empower local travel professionals to cater to evolving preferences and explore new destinations.'
RateHawk has offices in London, Berlin, Lisbon, Warsaw, Dubai, Limassol, Singapore and Wilmington. RateHawk employs over 500 professionals in commercial roles globally.
About RateHawk
RateHawk is an innovative B2B booking platform developed by Emerging Travel Group. It offers hotels, flight tickets, transfers, car rentals, and other travel-related services. It also provides a fast and easy-to-use API with dedicated 24/7 support.
RateHawk's mission is to provide partners with the best prices for any type of travel service, in any location.
RateHawk offers its clients 2.7 million hotels and other types of accommodation from over 130,000 properties contracted directly, and 320 wholesalers, for flight tickets from over 450 airlines, and transfers in over 150 countries.
Press Contact
Anita Gusich,
Head of PR
pr@emergingtravel.com
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