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RateGain Travel Technologies Limited, a global provider of SaaS solutions for travel and hospitality, on Monday, announced Malco Enterprises of Nevada, Inc., a car rental company in Las Vegas will be leveraging its AI-powered revenue management platform – revAI to drive business recovery.
RateGain’s revAI platform will help Malco Enterprises leverage over 25 real-time demand indicators that provide hyper-local demand to better understand the market potential and adjust their pricing by car segment, channel, and location to reach their maximum revenue potential in a day, the company said.
Malco will also receive a price optimisation module to help them gain the extra market share through an AI-driven-price recommendation engine while giving visibility into their current revenue achievement in the ongoing Financial year.
“In addition to understanding market demand, the forecast will also help identify dates that need attention while providing visibility into the demand and recommended pricing for the next 90 days,” RareGainfurther explained.
Malco has operated as a ‘Budget Rent A Car’ company in Las Vegas since 1989, and is one of the largest car rental franchise for ABG in North America.
The company operates in around ten locations spread across Las Vegas, including the McCarran International Airport.
Tom Mallo, Chief Executive Officer of Malco, said that, “When you are dealing with uncertainty, the ideal partner is one that can both provide real-time insights as well as a plan of action to use those insights to drive business recovery. With RateGain’s revAI platform we get both with an additional advantage of a cutting edge platform powered by AI which makes it possible for every car rental to maximize revenue opportunity.”
Siddhartha Kothari, General Manager and EVP for revAI, RateGain, added, “As the car rental industry recovers from Covid-19, we are certain that AI is going to be a critical enabler for addressing the gaps created by Covid and that is the core philosophy of revAI. As a long time partner to Malco, we are delighted that they gave us the opportunity to partner with them on creating new revenue and build a world-class example of AI-powered recovery for other car rentals to follow.”
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