Latest news with #RateGain
Business Upturn
6 days ago
- Business
- Business Upturn
RateGain launches REMO, its first AI-powered digital employee to enhance workplace communication
By Aman Shukla Published on June 3, 2025, 11:02 IST RateGain Travel Technologies Limited, a global provider of AI-driven SaaS solutions for the travel and hospitality industry, has announced the launch of REMO, its first AI-powered digital employee. The initiative aims to support workplace communication, employee well-being, and organizational transparency. REMO is part of RateGain's People and Culture team and has been developed as an always-on conversational AI. It allows employees to share feedback, express concerns, discuss career goals, or check in on their emotional well-being in a private and non-judgmental environment. Designed to reduce communication barriers, REMO supports open dialogue and is accessible at any time. This launch aligns with RateGain's broader AI strategy, focusing on enhancing—not replacing—human experience in the workplace. By integrating AI into its internal operations, RateGain seeks to embed empathy, individuality, and psychological safety into its organizational culture. REMO also reflects the company's effort to adapt to the needs of a distributed workforce by offering a scalable solution for internal communication and engagement. As a tool, it continues to evolve based on employee interactions, enabling the company to better understand workplace sentiment and employee expectations. With this step, RateGain becomes one of the early adopters globally to introduce a conversational AI assistant within its workforce, potentially setting a new direction for AI implementation in human resource functions. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
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Business Standard
26-05-2025
- Business
- Business Standard
RateGain Travel share pops 6% on healthy Q4 results; check key numbers here
RateGain Travel share price: RateGain Travel shares were in demand on the first trading day of the week i.e. Monday, May 26, 2025, with the scrip rallying up to 6.29 per cent to hit an intraday high of ₹537.20 per share. At 1:51 PM, RateGain Travel shares continued to trade near day's high level, up 5.66 per cent at ₹534 per share. In comparison, BSE Sensex was trading 0.56 per cent higher at 82,175.72 level. What triggered the rally in RatGain Travel share price on May 26? RateGain Travel share price rose on the back of robust March quarter of financial year 2025 (Q4FY25) results. The company's operating revenue rose 1.9 per cent year-on-year (Y-o-Y) to ₹260.6 crore, from ₹255.8 crore a year ago. Profit after tax (PAT) soared 9.6 per cent Y-o-Y to ₹54.8 crore in the March quarter of FY25, from ₹50 crore in the same quarter a year ago. At the operating level, earnings before interest, tax, depreciation and amortisation (Ebitda) zoomed 11.7 per cent annually to ₹60.5 crore in Q4FY25, from ₹54.2 crore a year ago. Subsequently, Ebitda margin expanded 200 basis points (bps) to 23.2 per cent, from 21.2 per cent a year ago. Notably, RateGain's global team grew to 821 employees, with an attrition rate of 10.5 per cent. Rohan Mittal, chief financial officer, RateGain Travel Technologies said, 'We close out the year on a steady note, consolidating our position amidst a challenging demand environment and with a strong performance on margins. With a continued focus on disciplined execution and enhanced operational efficiency, the company has delivered a record margin of 23.2 per cent. The evolving macro landscape, with shifting demand patterns and increased volatility, continues to pose both challenges and opportunities.' Mittal added, 'Given our global positioning and the opportunity ahead of us, we will be investing in our GTM motion to enhance market reach and customer engagement. We remain committed to balancing nearterm profitability with long-term value creation, to deliver the best outcomes for all key stakeholders.' About RateGain Travel RateGain Travel Technologies is among the leading global providers of AI-driven SaaS solutions for the travel and hospitality industry. With a presence in over 100 countries, RateGain serves more than 3,200 customers and 700 partners, helping them boost revenue through customer acquisition, retention, and increased wallet share. Founded in 2004, RateGain is one of the world's largest processors of electronic transactions, pricing data, and travel intent signals. Its solutions empower revenue management, distribution, and marketing teams across a wide range of sectors—including hotels, airlines, online travel agencies, car rentals, cruises, ferries, and travel management companies—to achieve superior business outcomes.
Mint
16-05-2025
- Business
- Mint
Tour plans to Turkey, Azerbaijan off the table as Indians mark their protest
Indians angry with Turkey and Azerbaijan that supported Pakistan in the recent military conflict are voting with their feet, cancelling travel to the two countries and rescheduling summer plans to friendlier locales. Hotel bookings from India to Turkey fell 31% from a year earlier in the first fortnight of May, data from travel analytics firm RateGain shared exclusively with Mint showed, indicating a reshaping of travel intentions. This was driven by a complete halt in family leisure travel and a 65% decline in non-family leisure stays. Business travel bucked the trend slightly, rising 7%. Flight bookings plunged 61%, with business travel down 54%, leisure family trips 80%, and non-family leisure travel 56%. 'We are witnessing an increasing trend of travel being impacted due to social media chatter. Visa-free travel first made Azerbaijan and Turkey famous travel destinations, and now, the ongoing conflict has collectively created a negative impact on bookings. We saw this last year with Maldives as well and might see more instances of this in the future," said Ankit Chaturvedi, vice-president and global head of marketing at RateGain. Also read: India hotel deals seen hitting ₹4,200 crore amid record IPO pipeline At one of India's largest travel agencies, travel bookings to the two countries have plunged 90%. "The company is helping people opt for other destinations as costs associated with cancellations can be quite high. Since most travellers are aware of that, they are opting to change their plans to other destinations instead. So, while there is some impact, it's not translating into widespread cancellations; instead rebookings to other countries," the company's managing director said on the condition of anonymity. Stop go Earlier this week, travel agencies including MakeMyTrip, EaseMyTrip and Cox & Kings paused holiday packages to Turkey, while Cox & Kings has offered Uzbekistan as a new destination. MakeMyTrip said it had seen a drop in bookings for Azerbaijan and Turkey by 60%, while cancellations jumped 250% during the same period. MakeMyTrip and EaseMyTrip, though, continue to offer tickets to Baku and Istanbul. Turkey has supplied military equipment to India and condemned India's Operation Sindoor, while Azerbaijan has expressed solidarity with Pakistan, inflaming Indians seething over the massacre in Pahalgam. The two countries, which offer easy visas for Indians, are estimated to have received half a million Indian visitors in 2024. Also read: Airfares down but insufficient hotel rooms keeping travel costs up: Thomas Cook "The sentiments of people are such that we have put our impending visit to Turkey on hold," said Sayantan Sinha, who has suspended his plan to travel to Turkey with four friends in August. 'The government has not issued any travel advisory and nor has it stopped trade with Turkey, but visiting the country at this juncture is certainly not going to make sense. It's more to do with respecting the current sentiments," he said. Fare fall As demand fell, air fares to these countries have fallen 30-40%, various industry executives said. Delhi-based luxury travel agency Welgrow Travels said clients have cancelled all bookings to Turkey and Azerbaijan. Founder Radhika Khanijo said the agency is no longer promoting these destinations. "Alternatively, a lot of our clients are now choosing other destinations in Europe, which we are facilitating," she said. Mint reached out to representatives of Turkey Tourism for comment but did not receive a response. Neither country has issued any official statement on the matter yet. In Mumbai, the Shiv Sena demanded that India revoke permission for Turkish firm Celebi, which provides ground handling services at Indian airports. A Bloomberg report said Celebi handles around 70% of the ground operations at the Mumbai airport. The Eknath Shinde-led party also called for an inquiry into the ownership structure and controlling interests of Celebi. Short-haul locales According to a report by FICCI-Nangia Andersen, in 2024 alone, outbound tourist spending touched $18.82 billion, driven by rising disposable incomes, easier visa access, and improved connectivity. New destinations such as Egypt, Azerbaijan, Georgia, and Vietnam had been gaining popularity, with 70% of Indians preferring short-haul travel under four hours to these locations. Mint reported in July 2024 that Indian travellers wre projected to spend $55 billion overseas by 2034, growing at a compounded annual rate of 11.4%. Also read: Chalet Hotels revenue jumps 21.3% in FY25 but profit drops on higher expenses and tax adjustments Subhash Goyal, chairperson of the Indian Chamber of Commerce's expert committee on aviation and tourism, said, 'The government understands India's importance better and some countries like the Maldives, which went through a similar phase last year, struggled to respond effectively. We are a soft economic power now—with 25 million Indians travelling abroad and spending over $20 billion annually. While we may not be the largest outbound market by number of travellers, we are the biggest spenders, attracting tourism boards through weddings, Bollywood shoots, and more. Destinations like Thailand, Dubai, Singapore and Vietnam have been eager to welcome us." Easy visas He added, 'Azerbaijan offers visa-on-arrival and Turkey e-visas, which helped attract around 500,000 Indian tourists last year collectively. This is a form of soft power we hold, and we hope other countries recognize it. We aren't the only ones raising concerns — if terrorists can attack innocent tourists in India, how safe are Indians in countries that directly or indirectly support terrorism?" Goyal's travel agency STIC recently saw a group of 32 lawyers cancel their trip to Baku, and the agency has since recommended alternatives such as Georgia and Uzbekistan. Delhi-based hotelier Himmat Anand, who runs Snowfox Escapes, said it was surprising that China was not facing boycott calls, despite the country supplying missiles and fighter jets to Pakistan. The reality of the tourism landscape is more sobering, he said. 'In 2024, Turkey received around 60 million international tourists, of which only about 3 to 3.5 lakh were from India—less than 1% of total arrivals. Indian tourists contributed just $500 million of Turkey's $61 billion in tourism earnings. While Turkey may feel some temporary heat, it's unlikely to match the hype within India. What's more, a country of India's size drawing only 12 million international tourists remains a worrying contrast," he said.
Business Standard
08-05-2025
- Business
- Business Standard
Cyprus Airways selects AirGain for competitive pricing intelligence
RateGain Travel Technologies announced that Cyprus Airways, the flagship carrier of the Republic of Cyprus, has selected AirGain, RateGain's advanced pricing intelligence platform for airlines, to gain real-time competitive insights. This strategic collaboration underscores Cyprus Airways' commitment to delivering affordable and seamless travel experiences across its expanding network in Europe and the Middle East. With AirGain, Cyprus Airways will access real-time competitive pricing data from over 300 airlines and 50+ OTAs. This enables the airline to refine its pricing strategies, optimize promotions, and maintain leadership in the aviation market. By leveraging dynamic pricing and market trends, Cyprus Airways aims to deliver exceptional value to its customers while ensuring sustainable growth.
Business Standard
06-05-2025
- Business
- Business Standard
Rategain Travel appoints Rohan Mittal as CFO
Rategain Travel Technologies said that its board has approved the appointment of Rohan Mittal as chief financial officer (CFO) with effect from 6 May 2025. Tanmaya Das has resigned as chief executive officer (CEO) with effect from 5 May 2025. He will continue to remain associated with the Company in capacity other than Chief Financial Officer till June 30, 2025 to facilitate smooth transition. Rohan Mittal has completed his education from IIM Lucknow (MBA) and Punjab Engineering College (BE, Hons). Mittal brings over 18 years of experience in financial leadership, business transformation, and strategic planning. Most recently, he served as the group chief financial officer at Yatra Online Inc., where he played a pivotal role in listing the company on the Indian stock exchanges. Before Yatra, Mittal held key leadership positions at AllCargo Logistics (AllCargo), His expertise in mergers and acquisitions, fundraising, and financial controllership will be invaluable to RateGain as the company continues to expand its global presence and drive innovation using AI for its customers. Bhanu Chopra, founder and managing director of RateGain, commented, "Rohan's ability to drive growth across businesses and a deeper understanding of turning strategy into action will be key for driving growth at RateGain as we get ready to deepen our commitment for an AI-led future. I welcome him to the team and wish him the best of luck. Rohan will succeed Tanmaya Das who has played a pivotal role over the last 10 years in driving RateGains growth and will be with RateGain till 30th June to help with a smooth transition. The company has also elevated Deepak Kapoor as chief technology officer (CTO), who has played an instrumental role in the development of AI-based SaaS products and cloud-native data and application platforms for the company. RateGain Travel Technologies Limited is a global provider of AI-powered SaaS solutions for travel and hospitality that works with more than 3,200 customers and over 700 partners in more than 100 countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion. The companys consolidated net profit jumped 39.9% to Rs 56.54 crore on 10.6% increase in net sales to Rs 278.71 crore in Q3 FY25 over Q3 FY24. The counter shed 0.13% to end at Rs 447 on Monday, 5 May 2025.
