We had far better success than I ever anticipated. We are seeing similar results that we would see on an annual basis within the first few months of implementing LRO. I am now a believer.
Atlanta, GA (PRWEB) March 11, 2013
The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the multifamily housing and gaming/hospitality industries, today announces the tremendous success realized by CORE Realty Holdings Management, Inc. since the deployment of Rainmaker LRO revenue management across its portfolio. The Newport Beach, Calif. based company initiated the platform on one property in May 2012 and has since expanded the system to its entire 5,000+ unit portfolio. During the initial phase, the company experienced double-digit revenue increases and is now averaging 2.78 percent revenue increases at each property.
“Our expectations were exceeded within five months of using Rainmaker LRO revenue management,” said Erin Khamis, director of marketing & training CORE Realty Holdings Management, Inc. “I am amazed at how the system reacts to occupancy, rental rates and traffic. This system is far beyond what we could do on our own.”
CORE’s senior vice president, property and asset management, Marc Raskulinecz, agrees. “We had far better success than I ever anticipated,” he said. “We are seeing similar results that we would see on an annual basis within the first few months of implementing LRO. I am now a believer.”
Cost and outcome were two key components the CORE team looked at when determining the best revenue management solution. It was during the company’s due diligence they discovered that Rainmaker LRO’s optimized platform, the company’s tremendous customer service reputation along with cost and results were exactly what CORE needed to be successful in the transition to software-based revenue management practices. The Rainmaker business consultation team assisted in the implementation process by conducting in-person training sessions with Khamis to help gain buy-in from the leasing teams, as well as help garner the confidence needed to ensure the new pricing practices will be fully adopted at the site level.
“CORE’s quick success and ability to achieve revenue goals in such a short time frame indicates how strategic pricing from an optimized revenue management system along with buy-in at all levels can have a remarkable, positive impact on a company both from an operations standpoint and more importantly a financial one,” said Andrew Rains, executive vice president of Rainmaker LRO. “We are thrilled and honored to be a part of this amazing success.”
For more information about the rapid success CORE has realized through Rainmaker LRO revenue management, please read the CORE case study here.
Rainmaker LRO™ is the leading multifamily lease rate optimization solution used to maximize revenue from apartment leases. The system calculates optimized pricing based on multiple factors that influence rate setting, including traffic and lease duration, move-in dates, competitive affects and other metrics. The system also produces enterprise-wide demand forecasts by measuring and analyzing historical and current market metrics and performing calculations necessary for occupancy predictions that are dynamically updated as market conditions change.
The Rainmaker Group is the market leader in profit optimization solutions for the Multifamily Housing and Gaming & Hospitality industries. Rainmaker software, coupled with professional business consulting services, enables multifamily housing operators to maximize revenue from apartment leases and helps operators of casino hotels and other hospitality enterprises secure the most valuable customers to increase their profitability. 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. Multifamily housing clients include leaders such as Archstone, AvalonBay Communities, Equity Residential, Gables Residential, Post Properties, Mid-America Apartment Communities and more. Gaming/Hospitality clients include leading casino/hotel organizations such as Atlantis The Palm Dubai, Caesars Entertainment, MGM Resorts International, Omni Hotels & Resorts, Wynn Las Vegas and many others. Headquartered in northern Atlanta, GA, Rainmaker is an innovator and thought leader in the highly specialized revenue optimization field. For two consecutive years, Inc. magazine ranked Rainmaker among America’s top 5,000 fastest-growing, privately held companies. For more information, visit http://www.LetItRain.com.
About CORE Realty Holdings Management, Inc.
CORE Realty Holdings Management, Inc. is a full service real estate investment and advisory firm. Headquartered in Newport Beach, Calif., CRH Management offers a broad spectrum of real estate services in the multifamily, office, industrial and retail industries, including the management of more than 5,000 apartment units. For more information, please visit http://www.crhmi.com.