The companies specializing in travel technology join in an agreement that will allow OTAs, travel agencies, hotel wholesalers to increase the profits of their reservations. In a significant proportion of bookings, hotel prices tend to drop between the time of booking and the check-in date, creating a great opportunity to increase profitability after the reservation was already made.
At the present time, the tourism industry is experiencing unprecedented times, therefore, these two technology companies come together to increase the profitability of TravelgateX´s partners, using the most innovative solutions.
Statistics show that around 40% of bookings tend to suffer a price drop from the moment a reservation was made until it´s last date of free cancellation. Pruvo‘s solution takes advantage of these price drops to help travel resellers increase profits.
Pruvo is an automatic service based on Artificial Intelligence that tracks reservations that were made through any provider and monitors the net prices 24/7 in order to find a better rate for the same room with the same or better conditions. Once Pruvo detects a better rate, Pruvo rebooks the initial reservation with a new reservation, thereby increasing the margin of profit of the reservation.
The agreement signed between the technology companies will allow companies such as OTAs, travel agencies, hotel wholesalers to access the Pruvo “Repricing” service and thus increase profits that will not require effort on behalf of TravelgateX´s partners.
“In these difficult times the travel sector is experiencing, it is important to provide technological solutions that can help confront the situation and get the maximum profit margin for each reservation”, comments Itai Marcipar CEO Pruvo.
Pruvo and TravelgateX are two different but complementary businesses. “With this agreement, OTAs, travel agencies, wholesalers, will be able to take advantage to increase their profitability and generate more additional profits,” say Jose Díaz, CCO TravelgateX.
The agreement between the two technology companies will allow each TravelgateX customer to customize the solution to their needs, such as choosing between the fully automated or semi-automatic reservation procedure through a single click.
What is Pruvo: Pruvo is an artificial intelligence-based solution that helps travel companies increase profits and sales. Pruvo achieves these goals thanks to the price changes that occur in the market from the time of booking a hotel until the last date of free cancellation. Pruvo was created in 2016 by Itai Marcipar and Regev Brody and has offices in Israel, Spain and Costa Rica.
What is TravelgateX: Tourism Marketplace that develops tourism connection technology within the travel industry. With a single connection, TravelgateX provides access to the largest network of leading buyers and suppliers in the travel industry. TravelgateX was created in 2012 with the aim of being a technological partner for travel agencies, tour operators, receptors, wholesalers or any other tourism product company. The technology created by TravelgateX allows you to make a reservation every 6 seconds and moves more than 3 billion searches per day in the sector of online connections.