Chicago, June 17th, 2019: RateGain today announced the acquisition of BCV, the only hospitality focused social media provider with the capacity to monitor and engage the social universe 24 X 7. BCV, a RateGain company, will now offer a comprehensive Guest Experience Cloud platform with an arsenal of proprietary digital products designed to increase direct sales, provide unparalleled guest interactions, and mitigate negative experiences, all helping hotel chains maximize guest lifetime value. This acquisition will further help RateGain unlock revenue across hotel chains, airlines, car rentals, OTAs, cruise lines, package providers, TMCs, and vacation rentals.
This comprehensive Guest Experience Cloud platform combines the power of BCV’s social media listening, analytics, creative, and engagement capabilities with RateGain’s AI-driven cognitive revenue management and smart distribution solutions.
Commenting on the acquisition, Bhanu Chopra, Founder & CEO, RateGain said, “We are delighted to welcome Benji, Ari, Cece and the BCV team to the RateGain family. RateGain and BCV will replace the traditional waterfall methodology of data collection, analysis and action with a more agile model that would bring revenue management, sales and marketing together, breaking down the traditional silos to generate unprecedented visibility and control to influence and impact the guest journey and directly measure impact on booking and Net RevPAR to maximize guest lifetime value.”
Commenting on the acquisition, Benji Greenberg, Co-Founder & Chief Executive Officer, BCV said, “We couldn’t be more excited to be a part of the global RateGain family. This deal will increase our ability to bring ‘deep learning’ powered applications for the travel and hospitality industry into the near future. The new integrated platform will give 125,000+ hotel properties access to millions of proprietary social profiles to serve the right message, to the right guest, on the right channel, and elevate the brand experience for guests across the research, plan, and book portions of their journey. We will now have access to far more rate intelligence to ensure we’re hitting the right person across the right platform while increasing guest lifetime value for hotels.”
RateGain will now be a global award-winning team with the end-to-end solution capability of maximizing revenue every day, including the guest experience cloud, cognitive revenue management and smart distribution solutions that process over 240 billion data points, track online conversations across 395,000 hotels globally, and connect to 1,500+ demand partners, impacting over $13 billion in revenue annually.
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 the guest experience cloud to maximize guest lifetime value for hospitality chains. For more information, visit www.rategain.com
BCV is the leading provider of technology enabled social media solutions for the hospitality industry. Partnering with 400+ hotels across 20+ leading hotel chains and management companies, BCV drives results and delivers ROI via expert social media strategy and execution tailored specifically to the needs of hotels. Please visit www.bcvsocial.com
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.
Head of Marketing-RateGain
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