RateHawk hits $2.6bn annual gross transaction value

B2B booking platform RateHawk, along with parent company Emerging Travel Group, achieved a record gross transaction value of $2.6 billion in 2023. 

The company claimed a doubling in net booking value as the number of bookings grew 85% year-on-year.

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 saw a 67% increase compared to the prior year.

RateHawk’s number of industry partners reached 62,000 worldwide, up 61% from 2022. Of these, more than 3,000 are travel agents from the UK and Ireland.

The company connected more than 60 new global wholesalers and established direct contracts with over 20,000 accommodation options. 

The expansion resulted in a total of 2.5 million accommodation options, a rise of 40% year-on-year.

The most popular outbound destinations booked by UK agents in 2023 were the US, UAE, Spain, Italy, France, Saudi Arabia, Greece, Turkey, Germany and Portugal. 

RateHawk expanded its UK presence by opening an office in London, adding to a presence in Berlin, Milan, Lisbon, Warsaw, Dubai, Limassol and Wilmington. 

Northwest Europe regional director Julita Grzycka said: “In RateHawk’s UK business, we had a solid fourth quarter which outperformed the previous record of Q3 2023 in net booking value. 

“Given the current dynamics of Q1 2024, we are on a good track to overachieve that level. 

“Over the last year, our local commercial team doubled in size,  now comprising 17 professionals, with further expansion anticipated in 2024. 

“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.”

Emerging Travel Group chief executive Felix Shpilman said: “In its eighth year, RateHawk continues to deliver solid double-digit growth, hitting all-time highs in bookings and revenue. 

“Our partners worldwide recognise 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 traveller demand.”

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