SaaS solutions provider RateGain Travel Technologies has finalised the acquisition of myhotelshop ahead of its proposed IPO for which it had filed draft papers with Sebi in August 2021.
“myhotelshop, a company incorporated in Germany, provides a platform to help hotels improve direct guest acquisition,” said RateGain in a release.
Together with myhotelshop, RateGain will now offer hotels the ability to reach more customers at higher returns. “The agreement is in line with RateGain’s mission to become the leading revenue maximization platform for the hospitality and travel industry.”
Myhotelshop offers reporting, bid management and campaign intelligence platform for metasearch publishers and other travel products that enables hotel suppliers, online travel agencies (OTAs), and agency clients to reach more customers at higher returns.
Commenting on the agreement Bhanu Chopra, Founder, RateGain said, “The merger will help in addressing a key challenge that the industry is facing in the post-Covid world that is witnessing increased digitization.”
“The need to become digital-first is increasingly becoming chaotic and we aim to make it simpler for hotels to manage their acquisition strategy and enable them to unlock new revenue,” he added.
RateGain, which offers travel and hospitality solutions that unlock new revenue every day, had filed IPO papers last month. The public issue comprises a fresh issue of Rs 400 crore and an offer for sale of over 2.26 crore equity shares by investor Wagner and promoters.
The funds raised by the company through the fresh issue will be utilised for repaying debts; payment of deferred consideration for acquisition of DHISCO; strategic investments, acquisitions and inorganic growth; investment in technology innovation, artificial intelligence and other organic growth initiatives; and purchase of certain capital equipment for Data Center.
As part of its growth strategy, RateGain intends to continue to invest in and acquire stake in companies that are complementary to its business and technology offerings. In FY19, it acquired DHISCO, a hotel distribution technology company, and also acquired 100 percent stake in BCV Social, a marketing technology company in FY20 to focus on social media management for the hospitality sector.
Established in January 2012, headquartered in Leipzig, Germany, myhotelshop provides solutions to increase direct sales of hotels and make it a profitable distribution channel by optimizing, managing and distributing hotel content and campaigns to demand partners and driving the online success of its hotel partners.Internet Explorer Channel Network