HSMAI ROC Attendees to Gain Fresh Insight Into Optimizing Group Business

  • Rainmaker Group (The Rainmaker Group)
  • 06.21.12
The Rainmaker Group and Omni Hotels & Resorts will provide Hospitality Sales and Marketing Association International (HSMAI) Revenue Optimization Conference (ROC) attendees fresh insight into the concepts and practice of moving beyond displacement to optimize group business in a high-energy panel session at Monday’s annual one-day event at the Sheraton City Center in Baltimore, Md.

In the 11:00 a.m. (EDT) panel session entitled Beyond Displacement: Optimizing Group Business, co-presenters Tom Walker, director of sales at Rainmaker, and Jamie Pena, corporate director of revenue at Omni Hotels & Resorts, will discuss advancing beyond displacement analysis to scientifically determine optimal pricing for groups.
 
Omni Hotels & Resorts, which includes 50 distinct luxury hotels and resorts in leading business gateways, meeting and leisure destinations across North America, derives approximately 50 percent of its revenues from group business; the other half from individual travelers. Since earlier this year, Omni has been field testing enhanced group price optimization techniques and has found the approach a meaningful endeavor.

“Adding optimization science to group pricing represents ‘next generation’ revenue management for group business,” said Walker. “The concept is to deliver a level of science to group pricing that’s historically been absent in the gaming and hospitality industry, namely, dynamic predictive behavior modeling and advanced pricing optimization.” 

Following the HSMAI conference, Rainmaker representatives will be available at the Hospitality Industry Technology Exposition & Conference (HITEC) next Tuesday and Wednesday (June 26-27) to provide hoteliers with information about GuestREV™ and GroupREV™ revenue management solutions in a private meeting venue (Room 329).

GroupREV is a sister product of GuestREV, the only revenue management system that considers Total Guest Value when determining optimal availability conditions.  Total Guest Value includes not only room revenues, but also potential revenue from gaming, food and beverage, spa, and other significant profit centers. The GuestREV system also analyzes and factors in forecasted demand from local influences such as holidays and citywide events to recommend optimized rates for each guest segment. GroupREV is an innovative group forecasting solution capable of determining an optimal group price over a multi-year timeframe that maximizes the likelihood of winning the business and associated revenue. It provides a scientific modeling and elasticity-based approach for group pricing recommendations.

“This private meeting room at HITEC is for any hotelier who has ever wanted to visit the LINQ360 Innovation Center in Las Vegas, but has not yet had the opportunity to visit it firsthand,” said Tammy Farley, Principal of Rainmaker.  “It’s a convenient, relaxed setting for Rainmaker and other LINQ360 partners to showcase our products and services and how they work together to provide the ultimate solution in hospitality technology.”

Farley is also slated to present the Revenue Management Professional of the Year Award at the HSMAI conference. This award recognizes and promotes excellence in the field of revenue management in the hospitality industry.




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