London, Oct 21st 2019: RateGain , the #1 SaaS company for travel and hospitality, today appointed Mr. Harmeet Singh as its new Chief Executive Officer with a focus on driving growth and expansion for RateGain and its portfolio companies through in-organic and organic initiatives.
Prior to RateGain, Harmeet was an Executive Partner at MDP Telecom, Media and Technology group identifying and evaluating potential investments in the cloud and IT services industry. Formerly, Harmeet was a President, Cloud Services at j2 Global, Inc. and scaled the SaaS portfolio to $600M in revenues, $300M in EBITDA and 1,100+ employees in less than six years pursuing both an organic and inorganic strategy. Over the course of his career, Harmeet has participated in over 100 M&A transactions focused in the technology, media and telecom sector.
Following Harmeet’s appointment, Bhanu Chopra, Founder & CEO of RateGain, is being elevated to Founder & Chairman and will focus on executing his vision of making RateGain the most valuable travel and hospitality technology company in the world. RateGain’s leadership team comprising experienced professionals, will now work directly with Harmeet to deliver on RateGain’s growth targets.
Bhanu Chopra said, “I am excited to welcome Harmeet as we set on the journey of further scaling our business and product lines to dominate new markets. His experience in global M & A will be an asset to the company as we build out a complete suite of digital products to solve the pain-points in travel and hospitality. We have grown four times in the last two years, and to further build on our success, I plan to focus sharply on disruptive product strategy while supporting Harmeet in identifying new opportunities of growth and scaling our current business.”
Harmeet Singh said, “It is an honour and a privilege to lead RateGain, which has been at the forefront of driving transformational change in revenue management, distribution and guest experience across the largest travel and hospitality enterprises across the world. I look forward to working with Bhanu and the RateGain family to rapidly grow our business and expand our leadership position.”
He further added, “The travel and hospitality industry in the last ten years has undergone massive transformation creating new business models that have generated billions of dollars in revenue, helping with employment and powering economic growth across the world. As per a recent McKinsey study, hospitality ranks 19 out of 22 in the least digitized industries and we at RateGain have a fantastic opportunity to be the digital transformation partners for forward looking enterprises helping create frictionless guest experiences”.
Harmeet’s appointment reflects the maturity of RateGain’s succession planning and practice of nurturing leadership in the technology industry. Harmeet will continue to be based in the USA, closer to RateGain’s clients and key technology partners further strengthening the execution of our strategy.
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 out 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 frictionless distribution. In June 2019, RateGain acquired award-winning BCV to offer guest experience cloud to maximize guest lifetime value for hospitality chains.
For more information, visit www.rategain.com
Forward-Looking Statements: 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.