This channel manager integration is set to digitize all the associated hotels/Travel Agents of Fastpayhotels.
Fastpayhotels announced today a partnership with RateGain to integrate their channel manager to extend their innovative business model to over 5,000 hotels using the RateGain channel manager solution.
With this partnership Fastpayhotels will be able to connect all its hotels/travel agents to online distribution system and provide them with an increased reach to boost their bookings and revenue. This will increase their speed to respond to market changes and broaden its visibility to the guests online. It is a two-way integration, where in RateGain’s channel manager will push availability, price & inventory of associated hotels to Fastpayhotels and further to the OTAs and OTAs will push back the reservations to hotels. This will not only give hoteliers a wider reach in online market but also a organized system to manage their pricing and inventory.
Since its launch into the market in 2016, Fastpayhotels has been adopted by more than 5000 travel agents and 21,000 hotels are now connected to the business based in Mallorca,Spain. Bhanu Chopra, CEO of RateGain says ¨ The wholesaler market is evolving at real speed. Modern forward thinking hoteliers are using dynamic rate connections, credit card payments at the time of booking and new channels to expand their distribution, lower their cost of distribution to increase profitability. RateGain is delighted to offer Fastpayhotels an online distribution connection for its hotel customers to streamline their distribution stream.”
¨Rate Gain´s leading channel manager solution is a great fit for Fastpayhotels. We are excited to extend the benefits of our business model to a whole new set of dynamic forward thinking hotel partners¨, said Alex Gisbert, CEO of Fastpayhotels.
¨Globally, the demand for dynamic rate connections, real time payments and incremental distribution is increasing within the hospitality industry and this partnership will meet that demand efficiently”, added Gisbert.
Fastpayhotels’ model facilitates the relationship between hotels, travel agents and bed banks by replacing static, out-of-date rates with dynamic rates and availability. The model centers around prepaid, non-refundable rates which are now cheaper than FIT (Free Independent Traveller) rates or Best Available Rates (BAR), and contribute to forty percent of reservations made through travel agents.
RateGain and Fastpayhotels will also be collaborating in their go-to-market activities for this partnership including a series of webinars across the globe over the next few months.
RateGain is a leading provider of cloud-based innovative solutions for the Travel and Hospitality Industry. RateGain provides latest technology in rate intelligence, price optimization, seamless electronic distribution and brand engagement. Founded in 2004, RateGain has 12,000 clients around the globe including hotels, online travel agents, airlines, car rental companies, cruise liners as well as tour operators and wholesalers like IHG, Melia Hotels Intenational, Lufthansa, Expedia, Hertz Corporation, Priceline.com, Carnival Cruise, etc. Through our unwavering commitment to excellence and our guiding principles, we help hospitality and travel companies make more revenue every day.
For more information, visit www.rategain.com
Fastpayhotels is a new B2B distribution platform launched in Spain in 2016. The company’s mission is to evolve the current relationship between hotels and travel agencies by offering a simple distribution platform that makes it easier for hotels to give the best rates and availability to agents, by paying the hotels on the day of booking, at a lower cost, without the threat of cancelation or modification. Over 21,000 hotels are currently signed up to the platform in over 23 countries and more than 5000 travel agents operators are already using the software. For more information, visit www.fastpayhotels.com.
For further details, please contact:
Enzo Aita, Global Head – Hospitality Marketing
Aditi Bhandari, Senior Manager Marketing
Giada Vigoni, Sales Manager
Forward Looking Statements
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