Shares of RateGain Travel Technologies Ltd, a global SaaS company for travel and hospitality, climbed as much as 2.3 percent in trade on Tuesday after the company announced its collaboration with Royal Orchid Hotels Ltd.
RateGain on Tuesday said that it has been selected by Royal Orchid Hotels to drive profitability and better connectivity with a bundled solution offering from the firm. Royal Orchid and Regenta Hotels are one of India’s fastest-growing hospitality brands, managing a portfolio of over 75 properties with 4,600 rooms across the country.
“Royal Orchid Hotels will be implementing RateGain’s award-winning Rate Intelligence solutions bundled together with a channel manager platform for reliable and improved connectivity to demand partners globally,” the company said in a press release.
Bulk deal data available with the National Stock Exchange (NSE) showed that Nippon India Mutual Fund picked 5 million shares of the travel technology company among other buyers.
Founded in 2004, RateGain is one of the world’s largest processors of electronic transactions and price points for the travel and hospitality industry and is the largest Software as a Service (“SaaS”) company in the hospitality and travel industry in India. It works with over 2,200 customers in over 100 countries helping them accelerate revenue generation through acquisition, retention, and wallet share expansion.
