Travel platform RateHawk reports 67% global bookings surge in 2024 as travel demand rebounds
B2B travel solutions firm RateHawk reported a 67% increase in global bookings in 2024, according to the travel booking platform's statement released on Monday (April 28).
The platform, used by travel professionals to book hotels, flights, and transfers, also saw its net booking value rise by 1.8 times compared to 2023. The company's performance was one of the main drivers behind the S$3.7 billion gross transaction value reached by its parent company, Emerging Travel Group, based in the UAE.
The demand for RateHawk's transportation booking services, including flight tickets and transfer bookings, doubled in 2024.
According to the company, the most popular international destinations booked by travel agents in Asia were the UAE, France, Switzerland, the USA, and Italy. Within the region, the most popular were Japan, Malaysia, Thailand, and India.
Felix Shpilman, President and CEO of Emerging Travel Group, RateHawk's parent company, citing the latest UN Tourism report, said that as 1.4 billion people travelled internationally in 2024—nearing pre-pandemic levels—the company saw increased demand and growth across both its own and its partners' businesses.
Erik Akhmetgaliev, Regional Director in the APAC region, said, 'In 2024, our business in Asia demonstrated a record fourfold increase in net booking value year-over-year. A new headquarters in Singapore and localisation in several new languages, including Japanese, Vietnamese, and Thai, stimulated the significant growth of our partners and their bookings.'
Last year, the company added over 70 new global accommodation suppliers, taking the total to more than 300 wholesalers. It also signed direct deals with over 34,000 properties, bringing that number to around 120,000. In total, RateHawk now offers more than 2.6 million accommodation options on its platform.
It also introduced train travel service across Europe, with over 25% of travel professionals using it within three months of its launch. In addition, it partnered with 500 new entities, including China's most popular online travel agency, Ctrip.
The platform added support for eight more languages last year, bringing the total to 32.
To strengthen its position in Asia, RateHawk also launched a new headquarters in Singapore.
Over 93,000 travel professionals worldwide are using the platform. Of this, over 13,000 professionals are in Asia.
The company has offices in Berlin, Dubai, Limassol, Lisbon, London, Singapore, Warsaw, and Wilmington and employs over 500 staff in commercial roles globally.
Mr Akhmetgaliev said, 'We feel very optimistic about 2025, taking into account impressive RateHawk figures we have already achieved in the first quarter.' /TISG
Read also: Singapore flyers to enjoy one-way fares from S$86 to Vietnam as Vietjet celebrates new airbus addition
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