As the recognized leader in revenue and profit optimization solutions for the gaming and hospitality industry, Rainmaker Group offers a comprehensive suite of cloud-based solutions designed to help its clients maximize revenue from every segment of their business. One of Rainmaker’s most in-demand solutions is grouprev, a unique tool that allows gaming properties to optimize their potential to win highly lucrative group business.
Implemented as either a stand-alone solution or along with Rainmaker’s popular guestrev solution, grouprev makes it easier for revenue managers to navigate the complex and intricate data required for assessing group requests and driving conversion rates.
Recently, Rainmaker upped the ante, introducing group forecasting functionality as a significant enhancement to both its grouprev and guestrev solutions. An industry first in revenue management, group forecasting provides the ability to project future group business demand.
This allows revenue managers to optimize their pricing, as well as the overall profitability of their property, by using more accurate projections for group demand and a hurdle rate that considers potential displacement of both business segments.
Key features of grouprev with group forecasting include:
- granular forecasts by day and by group segment
- a displacement module that captures the effects of both transient and group displacement on quoted group rates
- a high-level, forward-looking view of optimal transient and group segment mix
- visualization of group and transient demand mix which easily identifies opportunities for revenue enhancement
Grouprev, with the addition of group forecasting, helps hotels and casinos minimize the risk of underpricing for future dates that may have considerable demand for group business. This enhancement is projected to drive increased revenues with an estimated 2 percent to 3 percent lift, depending on group volume.
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