032014 GTR_TribalREV_300Mystic Lake Casino Hotel, in Prior Lake, Minn., will implement TribalREV, a comprehensive revenue management software solution provided as a managed service by The Rainmaker Group. The two entities finalized the agreement in mid-January and the solution will be implemented in the first quarter of 2014.

Today’s dynamic gaming environment, increased competition, and the lingering recession have forced operators to be smarter and operate more efficiently. Fortunately, the dramatic increases in data-storage and processing capabilities have allowed Rainmaker to undertake steadily more complex analysis for customers ranging from a 128-room hotel to a 5,000-room resort. The revenue increases typically come from small adjustments in room rates—moving nightly rates by $10 to $25 to make sure that rooms are priced to achieve the greatest value.

TribalREV leverages Rainmaker’s GuestREV software, combined with a seasoned revenue management expert. “The power and promise of TribalREV lies in the GuestREV software itself,” said John Wallace, Rainmaker’s president, gaming/hospitality, in a prepared statement. “What we hope to demonstrate very quickly for Mystic Lake is that this advanced forecasting and optimization software can ensure rooms will always be available for their most valuable guests. The service component of TribalREV, in effect, gives federally recognized, sovereign Native American tribes such as Mystic Lake virtually the same technological and human-resource capability as many of the world’s largest casino resorts.”

Billed as the largest casino resort destination in Minnesota, Mystic Lake offers 586 well-appointed guest rooms and suites, nearly 100 blackjack tables, more than 4,000 of the most popular slots and a state-of-the-art high stakes bingo hall, a wide variety of restaurants and bars, an indoor pool and a 2,100 seat venue (The Mystic Showroom).