RTG’s Gateway Stream Pays Dividends

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By Alois Vinga

LEADING hospitality and leisure group, Rainbow Tourism Group (RTG) has recorded significant revenue growth from the digitalisation platform, Gateway Stream amid huge potential indications going into the future.

Presenting a trading update for the period ended March 31, 2021, RTG company secretary Tapiwa Mari credited the web application for enabling the group to go against the headwinds of Covid-19 lockdowns.

“The group’s mobile and web application, the Gateway Stream, which was activated in May 2020, continued to gain momentum and has become a source of replacement business, as well as a driver for revenue growth,” he said.

He said the growth trajectory on Gateway Stream was being led by groceries, hardware and accommodation, while food and drink (Gateway Eats), Events and Insurance channels had started recording business activities and were showing high potential going into the future.

The remarks come shortly after RTG announced that a total of 2 500 local artistes have registered on the mobile application so far, with a total of 22 900 songs from 3 000 albums.

The artistes include top musicians Jah Prayzah, Janet Manyowa and Winky D.

Gateway Stream has been described by the hotel group as a super-app with multiple revenue channels.

The shift in consumer buying behaviour to online purchases as necessitated by the advent of Covid-19 and guaranteed promise to deliver within 24 hours has positioned the application as an online shopping as a top earner.

Growth has also been recorded in hotel accommodation bookings made on the application.

Apart from driving the group’s revenue, the application has recruited 55 000 rooms across Africa enabling anyone to search for and book accommodation in any of the listed countries on Gateway Stream.

Meanwhile, during the period under review, the group inflation adjusted revenues for the period under review closed at $198 million from $368 million recorded over the same period last year with the decline in revenue being attributed to Covid-19 lockdown related business interruptions.

Added Mari, “The group remains optimistic about the prospects of the tourism industry in the short to medium term.

“The stability in the operating environment is a positive development that will translate into increased activities.”