Lowcostbeds.com has tied up with RateGain for its HotelGain solution for online travel agents. As per the agreement, Lowcostbeds.com will use HotelGain to monitor prices of its competitors.

Published: 10 Jan 2006

Lowcostbeds.com has tied up with RateGain for its HotelGain solution for online travel agents. As per the agreement, Lowcostbeds.com will use HotelGain to monitor prices of its competitors.

Bhanu Chopra, chief executive officer, RateGain IT Solutions Private Limited, said, “Combination of great marketing, ease of use of website and importantly great deals enable consumers to go for online travel bookings. However, all this can go in vain if online buyers aren’t offered the best or lowest price in today’s era of `price guarantee’ offering. So it’s imperative for online travel intermediaries like Lowcostbeds.com to be equipped with precise information on travel inventory and pricing of its competitors. That’s where an innovative company like RateGain helps our clients to guarantee the best to their customers. Through our HotelGain price intelligence service, we enable clients like Lowcostbeds.com to adopt optimal pricing strategy.”

According to RateGain, a software services company providing web-based competitive price intelligence to the travel industry, with the HotelGain solution, the clients not only have the base price but also have the capability to “slice and dice” it for finding trends. Proactively, one can have information about variance in inventory pricing vis-à-vis competitors, finding out which is the cheapest hotel under each star segment, what is the status of the inventory on competitors websites, how many properties are priced lower or higher to client’s competitor and much more.

Paul Evans, the founder of Lowcostbeds.com, said, “RateGain’s price intelligence service will help us assess and adjust our hotel pricing in a highly competitive marketplace to enable us to place a price guarantee on our inventory.”

Salient features of the HotelGain Net Report include Real time tool (that tracks competition over different websites including branded and regional websites anytime anywhere), Dataviews (helps in understanding demand supply and price trends), Archives (all the previously run reports are archived online, Price Alerts (price movements delivered on mobile or e-mail which are easy to use with customized search filters), and Discussion forum (enables sharing of reports with colleagues online) among others.