RateHawk has reached a significant milestone by achieving a gross transaction value of $2.6 billion in 2023, marking a notable success in the travel industry. Operating under Emerging Travel Group, the company has seen a dramatic increase in business activity over the past year.
In 2023, RateHawk experienced an exceptional growth trajectory, doubling its net booking value and witnessing an 85% increase in the number of bookings compared to the previous year. This surge has been partly attributed to the increasing demand for RateHawk’s additional services, such as flight tickets and transfer bookings, which showed a steady rise throughout the year.
RateHawk’s industry partnerships have grown significantly, reaching a total of 62,000 partners globally, which represents a 61% increase since 2022. Notably, over 3,000 of these partners are travel agents from the UK and Ireland. This expansion underlines the widespread recognition of RateHawk’s value in the global travel marketplace.
The company has strategically placed itself in a competitive position by connecting with more than 60 new global wholesalers and establishing direct contracts with over 20,000 accommodation providers. This initiative has resulted in an impressive 2.5 million accommodation options, a 40% increase from the previous year. Such growth highlights RateHawk’s commitment to offering extensive and varied choices for its users.
RateHawk’s UK operations have seen strategic enhancements with the opening of a new office in London, reinforcing its presence alongside existing offices in Berlin, Milan, Lisbon, Warsaw, Dubai, Limassol, and Wilmington. According to Julita Grzycka, the Northwest Europe regional director, the company’s UK sector experienced a robust fourth quarter in 2023, outperforming the previous records set in Q3. The commercial team has doubled in size, and further expansion is anticipated in 2024.
RateHawk aims to establish itself as the preferred travel tool among local travel professionals by the end of 2024. The anticipated goal is to build upon its current momentum, ensuring sustained growth in booking activities and expanding its reach within the travel industry. Julius Grzycka emphasised that their ambition for 2024 is ambitious yet attainable.
The CEO further stated that the company’s growth trajectory reflects its continuous delivery of double-digit growth. RateHawk aims to capitalise on this expansion by continuing to provide significant value to its partners and adapting to market demands.
The achievements of RateHawk in 2023 underscore its growing influence and capabilities within the travel industry. As the company moves forward into 2024, its strategic initiatives and robust performance metrics position it well for continued success amidst a recovering global travel landscape.
