RateGain Partners with Green Motion for Revenue Management

On June 13, 2024, RateGain Travel Technologies Limited (RateGain) informed in a stock exchange filing that it got selected by a pioneering car rental company in eco-friendly transportation, Green Motion International (Green Motion), as its preferred revenue management partner for its franchisee network spread across 650 locations in 73 countries globally.

Green Motion is a car rental brand prominent for its commitment to lowering vehicle CO2 emissions. It is at the forefront of mobility innovation in the car rental industry, pioneering the latest technology to deliver truly frictionless mobility services.

The company stated that managing revenue in the car rental industry is challenging due to the dynamic nature of inventory and the need to respond promptly to market demands. High-demand periods exacerbate these complexities as inventory availability fluctuates. Moreover, unpredictable customer behaviour influences demand, often leading to price reductions close to pick-up dates. Car rentals typically constitute the final booking stage in travel planning, with travellers allocating minimal budget share to this expense, intensifying competitive pricing pressures on the industry.

Green Motion franchisees can now monitor demand and utilisation patterns in city locations, enabling them to adjust fleet rates accurately using AI/ML optimisation. This streamlined approach significantly eliminates manual efforts.

With Rev-AI by RateGain, Green Motion will utilise more than 25 real-time demand indicators, offering hyper-local demand insights and helping them to understand market potential accurately and adjust pricing dynamically by car segment, location and channel. The AI-driven price recommendation engine within Rev-AI will also help Green Motion franchisees seize additional market share while maintaining the visibility of their ongoing financial performance.

Speaking of the collaboration, the Chief Product Officer of Green Motion International, Chay Lowden, said, “We are happy to embark on this journey with RateGain, leveraging their cutting-edge Rev-AI platform. This collaboration aligns perfectly with our mission to continue to pioneer the latest technology to deliver truly frictionless mobility services. By harnessing the power of AI-driven revenue management, we aim to enhance our operational efficiency and enable our franchisees with technology to help them create more value-driven rental experiences. This partnership marks a significant step in leveraging advanced technology to maximise revenue across our franchised network.”

The General Manager and EVP for Rev-AI at RateGain, Siddhartha Kothari, stated, “RateGain and Green Motion International are united by a shared dedication to innovation. We’re excited to partner with Green Motion to revolutionise revenue growth for their franchisees. Our technology is not just about increasing margins; it’s about paving the way for smarter, more efficient business strategies in the car rental industry.”

On June 13, 2024, the share price of RateGain Travel Technologies Ltd opened at ₹751.00, touching the day’s high at ₹752.85, as of 10:28 AM on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.