The acquisition will help organizations access the most-comprehensive travel-intent, pricing and inventory data to achieve higher ROI.
SAN FRANCISCO and NEW DELHI – RateGain Travel Technologies Limited (RateGain), a global provider of SaaS solutions for travel and hospitality, announced that it has entered into a definitive agreement to acquire Adara Inc. (Adara) through an asset purchase agreement. The Silicon Valley headquartered global leader in predictive consumer intelligence to enhance its AI-powered DaaS (Data as a Service) and Martech offerings to form the World's most comprehensive travel-intent and data platform powered by AI.
With digital channels playing a significant role in influencing travel decisions, it is critical for marketers and commercial teams to look at ways to capture intent accurately and target the right audience to increase ROI on their marketing investments.
Founded in 2009 by Charles Mi in San Francisco, Adara today is a trusted partner in data collection and management for helping industry-leading blue-chip enterprises in Travel and Hospitality to win in the fast-paced digital economy by providing predictive intelligence for optimal consumer engagement.
The global leader in permissioned data and ethical data collection, Adara uses Artificial intelligence to combine the power of global data consortiums with over 24+ billion data elements across 130 countries powering digital marketing, programmatic advertising, campaign measurement, and CRM and retention, helping its customers create better connections to drive more consumer engagement and profitability.
Commenting on the acquisition Bhanu Chopra, Chairman and Founder, RateGain said, "We are delighted to welcome the Adara team to the RateGain family. Adara's key differentiator is its access to permissioned travel-intent data from the world's top travel and hospitality players as well as destination marketing organizations and relying less on traditional methods of tracking consumer intent. Their focus on innovation and delivering customer excellence has me convinced that together we will help the industry with reliable end-to-end intent and real-time pricing insights making it simpler for them to identify guests, acquire and retain them."
Commenting on the acquisition Charles Mi, Founder & Chief Executive Officer, Adara said, "We are thrilled to be a part of the global RateGain family. Bhanu's vision to build an end-to-end platform that can help organizations maximize revenue, aligns with what Adara believes in and the integration of RateGain and Adara will further this to create a unique value proposition that the industry needs, as more and more travelers adopt digital channels to research, plan and book travel. I am excited for what the future holds and cannot wait to scale the Adara story to new heights with RateGain."
The industry today needs a platform like this to help in adapting to the changing guest expectations
- Acquiring guests today is becoming costlier, as both traditional and digital advertising mediums have become hyper-competitive to capture the buyer, as the travelers increasingly shift to digital channels for inspiration, research, booking and engagement.
- With increasing costs and the need to have more unique experiences, travelers are looking to try different brands that can provide them more value through personalized experiences and offers, however brands today have limited visibility into their preferences.
The acquisition will also strengthen and consolidate RateGain's position across commercial teams in leading hotel chains, airlines and car rental companies which work with both Adara and RateGain as well as give access to a niche segment of over 50+ Destination Marketing Organizations in the United States.
Together Adara and RateGain will become the most comprehensive travel-intent platform that processes over 200 billion ARI updates, manages close to 30 billion data points and works with 700+ partners across 100+ countries giving the industry a single source to understand intent, target them and convert them.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
