PRESSR: RateHawk’s reports a record-breaking year with doubled revenue

RateHawk, an online system for booking hotels, air tickets, and transfers for travel professionals, reports record performance for the full year of 2023. RateHawk’s net booking value doubled from the prior year, while the number of bookings saw an 85% growth. RateHawk, along with its parent company, Emerging Travel Group, has achieved a gross transaction value of $2.6 billion in 2023.

The demand for RateHawk's additional services, including flight ticket and transfer bookings, showed a steady rise throughout 2023. Booked flights doubled in number, while transfer orders experienced a 67% increase compared to the prior year.

RateHawk’s number of partners now counts over 62,000 travel professionals worldwide, a remarkable 61% increase from the previous year. Of these, over 5,300 are travel agents from the GCC region.

In 2023, RateHawk experienced significant growth in its inventory. The company successfully connected more than 60 new global wholesalers and established direct contracts with over 20,000 accommodations. This expansion resulted in a total of 2.5 million accommodation options, marking a substantial 40% increase year-over-year.

Felix Shpilman, CEO of Emerging Travel Group, RateHawk’s parent company, commented: “In its eighth year, RateHawk continues to deliver solid double-digit growth, hitting all-time highs in bookings and revenue. Our partners worldwide recognize the added value that our unparalleled accommodation inventory and deep technological expertise bring to the table and want to benefit from it. Looking ahead to 2024, we're optimistic, aligning with the UNWTO's projections that international tourism is set to rebound to pre-pandemic levels fully. This means agents will face even greater traveler demand. Our platform equips travel professionals with everything they need to meet this growing demand – from extensive supply with competitive rates from over 230 suppliers to a comprehensive tool kit of travel services in a single, user-friendly platform, complemented by top-notch customer care.”

In 2023, RateHawk introduced an innovative hotel selection tool, aimed at assisting travel agencies to optimize customer interactions and streamline workflows." Around 40% of RateHawk’s travel partners have already started using the selection tool and have come to appreciate its benefits,” said Felix Shpilman.

According to RateHawk, the most popular outbound destinations booked by Croatian travel agents in 2023 were Italy, Germany, Spain, France, the United Kingdom, the United States of America, Belgium, Austria, Netherlands, Hungary.

Serkan Ozbay, Regional Director for Middle East, commented: “We are seeing strong growth in demand from local travel agents for our services – over the year the number of our partners in the region increased by 2.5 times. Our GCC team has significantly expanded and today includes 30 professionals in the roles of sales and account managers. Our ambition for 2024 is to make RateHawk the preferred travel tool for most local travel professionals, and we are well-positioned to achieve it.”

RateHawk has offices in London, Berlin, Milan, Lisbon, Warsaw, Dubai, Limassol, and Wilmington. RateHawk employs over 500 professionals in commercial roles globally.

-Ends-

About RateHawk

RateHawk is an innovative B2B booking platform developed by the Dubai-based company, Emerging Travel Group, offering hotels, flight tickets, transfers, car rentals, and other travel-related services.

RateHawk provides its partners with the best prices for any type of travel service in any location.

RateHawk offers its clients 2.5 million hotels and other accommodation types from over 86,000 properties contracted directly, and 230 wholesalers, flight tickets from over 400 airlines, and transfers in over 150 countries.

Press Contact

Anita Gusich,

Press Secretary

pr@emergingtravel.com

© Press Release 2024

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.