This initiative will provide our sales leaders with a sophisticated, configurable pricing tool that will help them to quote rates with confidence based upon what’s going on in their market with greater efficiency and speed.
Atlanta, GA (PRWEB) May 15, 2012
The Rainmaker Group, a world leader in automated forecasting and profit optimization software and services for the hospitality industry, announces that Omni Hotels & Resorts has agreed to pilot its new GroupREV™ group forecasting and pricing software at four locations over the next two months. The four locations, chosen based on their large volume of group business and diverse mix of customer segments, are Fort Worth, Texas; San Diego, California; Washington, DC; and Pittsburgh, Pennsylvania.
A standalone solution tailored to meet the needs of both traditional and casino hotels, GroupREV provides a scientific modeling and elasticity-based approach to solving the many longstanding challenges associated with group forecasting and pricing.
“We started developing GroupREV quite a while ago in response to demand for a group forecasting and pricing solution for hotels that caters primarily to groups and conventions and because no existing product leveraged a science-based approach,” said Tammy Farley, principal of Rainmaker. “Since August 2011, our scientists and analytics teams – with the strong, collaborative support of our longtime, valued partner, Omni Hotels & Resorts – have continued to fine-tune the methodology to identify the best data and metrics to use in determining group pricing.”
Although GroupREV will work with any revenue management system, for the Omni Hotels & Resorts implementation, GroupREV will be tied to Rainmaker’s GuestREV revenue management system, which ties in with Omni’s central reservations system. GroupREV will receive nightly extracts from Omni’s sales and catering system, which is also used to manage all of Omni’s group bookings. All of this information is used by GroupREV to determine optimal pricing.
Omni Hotels & Resorts, which includes 50 distinct luxury hotels and resorts in leading business gateways, meeting and leisure destinations across North America, is a natural for this new group forecasting and pricing tool. Approximately 50 percent of its revenues comes from group business; the other half from individual travelers.
“The Rainmaker team already offers us a great solution (GuestREV) for studying demand and making recommendations to help us optimize transient revenues whenever demand exists,” said Lesli Reynolds, Vice President, Global Distribution & Revenue Strategy for Omni Hotels & Resorts. “Given our success with GuestREV, we welcomed the opportunity to work with Rainmaker to apply that same level of scientific and analytical expertise to our group business.”
The Omni Revenue Management team studied various group pricing tools. Ultimately, the team selected Rainmaker’s GroupREV based on the metrics, methodology and resulting group pricing recommendations as well as the long-term partnership with the company, which enable them to customize the tool with additional metrics useful in establishing rational pricing for their groups.
"This initiative will provide our sales leaders with a sophisticated, configurable pricing tool that will help them to quote rates with confidence based upon what’s going on in their market with greater efficiency and speed," said Reynolds. “Sales managers will be able to focus the majority of their time on understanding and delivering on customer needs.”
Reynolds, a 24-year hospitality industry veteran, considers GroupREV a win-win business proposition. Reynolds says it may take six to nine months, perhaps even 12 months in some cases, to be able to assess the full benefits of the GroupREV system’s power and promise – primarily due to the long lead times required in group business. But, she says, “We anticipate that it’s going to measure up to our expectations. Rainmaker has done a very nice job partnering with us, and we are confident that as we bring them feedback, they’ll incorporate that learning into the scientific process.”
About Omni Hotels & Resorts
Omni Hotels & Resorts creates genuine, authentic guest experiences that take guests on “A Total Departure” to 50 distinct luxury hotels and resorts in leading business gateways and leisure destinations across North America. From exceptional golf and spa retreats to dynamic business settings, each Omni showcases the local flavor of the destination while featuring four-diamond services, signature restaurants, Wi-Fi connectivity and unique wellness options. Known for its award-winning, personalized service, Omni leaves a lasting impression with every customer interaction, with a heightened level of recognition and rewards delivered through its Select Guest loyalty program and the company’s “Power of One” associate empowerment program. Earlier this year, Omni’s loyalty program was further expanded with the launch of the GHA Discovery® loyalty program expanding numerous benefits on a worldwide basis as a member of the Global Hotel Alliance. The brand is frequently recognized by top consumer research organizations and leading media outlets. To get additional information or book accommodations, visit omnihotels.com or call 1-800-The-Omni.
The Rainmaker Group is the market leader in profit optimization solutions for the Gaming & Hospitality and Multifamily Housing industries. Rainmaker software, coupled with professional business consulting services, helps operators of casino hotels and other hospitality enterprises secure the most valuable customers to increase their profitability and enables multifamily housing operators to maximize revenue from apartment leases. Rainmaker is a Microsoft Gold Certified Partner and leverages cutting-edge research in order to bring customers the most sophisticated solutions to their revenue management challenges. Adopted by industry leaders and niche players alike, Rainmaker solutions provide clients a strategic advantage in achieving the highest profitability from their assets. Gaming/Hospitality clients include leading casino/hotel organizations such as Atlantis The Palm Dubai, Caesars Entertainment, Isle of Capri Casinos, MGM Resorts International, Omni Hotels & Resorts, Revel, Wynn Las Vegas and many others. Multifamily housing clients include leaders such as Archstone, AvalonBay Communities, Equity Residential, Gables Residential, Post Properties, Mid-America Apartment Communities and more. Headquartered in northern Atlanta, GA, Rainmaker is an innovator and thought leader in the highly specialized revenue optimization field. In 2011, Inc. magazine ranked Rainmaker among America’s top 5,000 fastest growing, privately held companies. For more information, visit http://www.LetItRain.com.