Maximizing Group Revenue

Product: GroupREV, Manufacturer: The Rainmaker Group

Among the Rainmaker Group’s suite of profit optimization solutions designed to understand and maximize total guest value is a stand-alone group pricing solution—GroupREV—which delivers optimal pricing that is aligned with an organization’s revenue management strategy while dramatically improving the speed to decision that the sales team needs to win quality business.

GroupREV provides group sales and revenue management teams the tools to respond quickly to leads and RFPs with optimal prices that drive improved conversion rates and increased group revenues. For a diverse hotel portfolio, GroupREV, on average, has improved revenues by 8 percent while increasing the conversion rates by 11 percent.

GroupREV empowers sales managers and sales leaders to quote with confidence by providing a market-based range of rates targeted to the specific needs of each prospective group customer. It allows them to be more strategic and gives them greater confidence to quote rates and drive exacting, ideal revenue for each group booking.

The software employs a scientific foundation that compiles data from multiple sources, from multiple locations, and houses it in one central repository. Using this data, the system instantly and accurately delivers three levels of group pricing intelligence—a floor rate, a ceiling rate and an optimal rate.

GroupREV’s speed and ease of use frees up the sales team to channel more time and energy into serving clients and ensuring that their business is handled efficiently and effectively, building a foundation for long-lasting relationships and the potential for ongoing repeat business.

Highly sophisticated, yet remarkably easy to use, the system advances group pricing beyond time-consuming, manual or outdated and suboptimal displacement cost-based methodologies to a new, higher level of science and sophistication—specifically, dynamic predictive behavioral modeling and advanced pricing optimization.

Flexible in nature, it can be employed alone or in conjunction with Rainmaker’s integrated offerings, including GuestREV revenue management software; Revcaster market intelligence, rate shopping and analytics solution, and Business Intelligence, a web-based tool that yields actionable insights designed to maximize revenue and profit.

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