Omni Hotels & Resorts to Pilot Rainmaker’s New GroupREV™ Group Forecasting and Pricing Product

  • Rainmaker Group (The Rainmaker Group)
  • 05.15.12
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.”

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