Newport Beach, CA, June 2, 2017 (Newswire.com) - RateHighway, the leading provider of automated rate positioning technology for the global auto rental industry, has partnered with Perfect Price, the leader in artificial intelligence for revenue management and price optimization, to deliver the first artificial intelligence solution to car rental companies.
“We are delighted to offer this groundbreaking, first-of-its-kind capability to our customers,” said Michael Meyer, President, RateHighway. “In today’s exceedingly competitive car rental environment, driving rental profitability is more important than ever.”
"For decades, companies shot from the hip on pricing, Then automation made better rate positioning possible. But without rigor and oversight, it can result in a race to the bottom. Artificial intelligence represents a new way to recapture time, revenue and profit while increasing growth."
Alex Shartsis, CEO, Perfect Price
The comprehensive pricing solution combines the leading rate automation technology Rate-Highway has provided since 2002, and the revolutionary artificial intelligence capabilities Perfect Price brings to the industry from Microsoft, Twitter and the FERMI nuclear physics laboratory.
“I was amazed by how quickly AI improved our business,” said Sharky Laguana, CEO, Bandago and Board Member, American Car Rental Association. “We have seen both utilization and revenue per unit climb measurably in cities where we use Perfect Price, while staying the same in cities where we left our old pricing model in place."
“For decades, companies shot from the hip on pricing,” said Alex Shartsis, CEO, Perfect Price. “Then automation made better rate positioning possible. But without rigor and oversight, it can result in a race to the bottom. Artificial intelligence represents a new way to recapture time, revenue and profit while increasing growth.”
“With this partnership, we build on RateHighway’s transformative automation, which has delivered windfalls for its customers. Together, we enable the next level of business excellence through artificial intelligence — for nearly any car rental business, not just the majors,” said Mr. Meyer.
About RateHighway, Inc.
RateHighway is the leading provider of revenue management technology for the global auto rental industry. RateHighway has been providing web rate gathering technology to the travel industry since 1998 and introduced the all-inclusive, ground-breaking RateMonitor(r) automated rate positioning product to the auto rental industry in 2004. RateMonitor is a full cycle rate gathering, analysis, and correction solution that can ensure your fleet is always competitively priced. For more information, contact email@example.com.
About Perfect Price, Inc.
Perfect Price is the leader in artificial intelligence for revenue management and price optimization. Headquartered in San Francisco, Perfect Price serves global customers with the most advanced artificial intelligence and machine learning based solutions in a software as a service model. For more information, contact firstname.lastname@example.org.
Source: Rate-Highway, Inc.