RateGain Travel Technologies announced on Jan. 3 that it has entered into a definitive agreement to acquire Adara Inc. through an asset purchase agreement. The Silicon Valley-headquartered provider of predictive consumer intelligence will enhance its AI-powered DaaS (Data as a Service) and martech offerings for a comprehensive travel-intent and data platform powered by AI.
Founded in 2009 by Charles Mi in San Francisco, Adara is known as a trusted partner in data collection and management for blue-chip enterprises in travel and hospitality to suceed in the fast-paced digital economy by providing predictive intelligence for optimal consumer engagement. 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.
Bhanu Chopra, chairman and founder of 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.”
Charles Mi, founder & CEO of Adara added: “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 acquisition will 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, according to the release.
Together, Adara and RateGain will process over 200 billion ARI updates, manage close to 30 billion data points, and work with 700+ partners across 100+ countries.
In November 2022, RateGain reported its highest operating margin in the last 10 quarters at 15.2% for its Q2FY23 financial results. Earlier that month, it also announced that its content-AI platform established a new and improved integration with Booking.com.
Update as of Jan. 19, 2023: Through its latest PULSE report powered by Adara, RateGain shared that India is amongst the top three inbound destinations in APAC with YoY rise of 21% for all bookings from Jan. 15 to Feb. 15. The report highlights business travel grew faster than leisure travel with a YoY growth of 18%. This could be attributed to heightened economic activity in the region. The report also highlights the reversal of longer trips, which became the norm during the pandemic, and suggests that trips of less than five days will be more common. With the resumption of business travel in the region, shorter trips will gain more prominence.