Omni Hotels & Resorts to pilot Rainmaker's new GroupREV forecasting product
The test will take place over the next two months at four Omni locations chosen based on their large volume of group business and diverse mix of customer segments. The four properties are located in Fort Worth, Texas; San Diego, Calif.; Washington, D.C.; and Pittsburgh, Pa.
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. 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.
“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.”