Noida, June 13, 2024: RateGain Travel Technologies Limited (RateGain), a leading provider of AI-powered SaaS solutions for travel and hospitality, announced today that Green Motion International (Green Motion), a pioneering car rental company in eco-friendly transportation, has selected RateGain as its preferred revenue management partner for its franchisee network spread across 650 locations in 73 countries worldwide.
Green Motion is a world-leading car rental brand known for its commitment to lower CO2 emission from vehicles. It is at the forefront of mobility innovation for the car rental industry, pioneering the latest technology to deliver truly frictionless mobility services.
The complexity in car-rental revenue management while planning to respond to market demand, need to be cognizant of non-static inventory which may vary, especially during high demand periods.
The car-rental industry further faces complications due to volatile customer-behaviour which impacts demand and results in price drops close to the actual pick-up date. Car rental being usually the last in the booking process of any planned leisure or business travel with the lowest wallet share in the travellers overall spend makes it more vulnerable to competitive pricing pressure.
Green Motion franchisees will now be able to track demand and utilization, spikes in city locations, to discover the correct rate for their fleet, and change them based on AI/ML optimization, making it hassle-free and reducing hours of effort.
With Rev-AI by RateGain, Green motion will utilize over 25 real-time demand indicators, providing hyper-local demand insights enabling them to understand market potential accurately and adjust pricing dynamically by car segment, channel, and location. The AI-driven price recommendation engine within Rev-AI will also assist Green Motion franchisees in capturing additional market share while maintaining the visibility of their ongoing financial performance.
Chay Lowden, Chief Product Officer of Green Motion International, commented on the partnership, “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 maximize revenue across our franchised network.”
Siddhartha Kothari, General Manager and EVP for Rev-AI at RateGain, added, “RateGain and Green Motion International are united by a shared dedication to innovation. We’re excited to partner with Green Motion to revolutionize 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.”
Rev-AI is integrated with major industry partners, allowing Green Motion’s franchisees to immediately benefit from this technology-driven approach to revenue management.
About Green Motion International
Green Motion International is a leader in providing eco-friendly car rental services. Its extensive 100% franchise network spans more than 73 countries with over 650 locations, dedicated to offering customers lower CO2 emission vehicles. Green Motion’s commitment to environmental sustainability and innovative approach positions it as a forward-thinking player in the global car rental market.
About RateGain
RateGain Travel Technologies Limited is a global provider of AI-powered SaaS solutions for travel and hospitality that works with 3,200+ customers and 700+ partners in 100+ countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.
RateGain today is one of the world’s largest processors of electronic transactions, price points, and travel intent data helping revenue management, distribution and marketing teams across hotels, airlines, meta-search companies, package providers, car rentals, travel management companies, cruises and ferries drive better outcomes for their business. Founded in 2004 and headquartered in India, today RateGain works with 26 of the Top 30 Hotel Chains, 25 of the Top 30 Online Travel Agents, 4 of the Top 5 Airlines, and all the top car rentals, including 16 Global Fortune 500 companies in unlocking new revenue every day. For more information, please visit www.rategain.com.
Forward-looking Statements
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential, and target dates for project-related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.
Media Contact
Aastha Khurana
media@rategain.com
Director-Corporate Communication
