RateGain, a Noida-based travel technology company, has acquired BCV Social for ₹175- ₹200 crore, cited ET. The acquisition will allow RateGain to offer clients a comprehensive guest experience cloud platform, through a variety of digital products, designed to increase direct sales, provide improved guest interactions and mitigate negative experiences.
“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,” said Bhanu Chopra, chief executive and founder, RateGain.
While, RateGain, founded by Chopra in 2004, offers a range of services to travel and hospitality firms, primarily on how to increase their revenue, including providing AI and machine learning-based real time intelligence on when to opt for surge pricing, depending on factors such as weather conditions, possible events and how the competitors are pricing themselves, to managing distribution of their rates to other online portals.
Whereas, BCV, a RateGain Company, is a Chicago-based service provider of social media solutions for the hospitality industry. It develops customized social strategies that align with greater marketing initiatives and create original content optimized for social media.
“We are currently evaluating 10-15 potential acquisition opportunities in the US and Europe, and will continue to accelerate our M&A rollup” Chopra further said.
“We are looking for companies in the revenue management and digital marketing and distribution solutions segments within the travel and hospitality segment. The acquisitions could range from $25-75 million,” he added.
RateGain works with some of the world’s largest online travel operators, hotel chains, airlines, car rental chains and cruise lines, counts the likes of SoftBank-backed hospitality chain OYO, Nasdaq-listed MakeMyTrip, the Taj Group of hotels and IndiGo Airlines among its clients in India.