RateHawk invests ‘heavily’ in AI technologies to drive growth

Online B2B platform RateHawk is investing in artificial intelligence (AI), introducing new products and expanding its supply as it eyes further growth in its second decade.

Founded in 2016, the travel tech company provides access to 3.2 million accommodation options sourced from more than 250,000 directly contracted hotels and 350 global suppliers, along with flights from 400+ airlines, transfers in more than 150 countries, railway tickets and car rentals.

Over the past year or so, it has boosted its UK presence by sealing partnerships with agency consortia such as The Travel Network Group, Hays Travel Independence Group and Elite Travel Group.

To drive more expansion in the coming 10 years, it aims to support API (application programming interface) growth and build long-term partnerships, by increasing its supply and enhancing technology “to improve speed and stability”.

And to make the booking process as smooth as possible, the company said it is “investing heavily” in AI-driven technologies such as smart search and a recommendation system.

Astrid Kastberg, managing director of RateHawk, said: “As quality standards rise and workflows become faster, many companies are re-evaluating the tools and supply chains they use.

“They want higher efficiency, reliability and a more accurate rate matching.

“Thanks to advanced technology solutions and 250,000 direct contracts and 350 suppliers, including over 100 DMCs (destination management companies), RateHawk’s API offers exactly what industry stakeholders are looking for.”

She said RateHawk also plans to introduce new products, starting with insurance, and continue developing features – such as its Quotes (Selection Tools) – to help partners increase booking conversions.

Felix Shpilman, president and chief executive of UAE-based Emerging Travel Group – RateHawk’s parent company – said: “We launched RateHawk in 2016 as an experiment.

“At a time when the rise of individual bookings created uncertainty about the future of travel agents, we believed that strong travel expertise would remain in demand – but the industry needed better tools, smarter technology, and a more intuitive user experience.

“We took a risk and applied our original B2C background to building a B2B platform with robust technology, extensive supply and excellent UX [user experience].

“That approach has proven successful: today, more than 110,000 travel professionals across 120+ markets use RateHawk, including major OTAs, travel tech platforms, tour operators and retail agencies. Their trust confirms that we are on the right path forward.”