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Downtown
Grand Hotel & Casino Cashes In
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on
Total Guest Value with Profit Optimization Solution
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from
The Rainmaker Group
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Downtown Las
Vegas casino resort turns to gaming and hospitality
revenue management
leader for total guest revenue optimization
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Atlanta,
GA – May 2017 / Newsmaker Alert / Downtown
Grand Hotel & Casino (Downtown Grand), a newly renovated urban
resort located in the heart of downtown Las Vegas, has bolstered its revenue
management processes and profitability through the successful implementation
of The Rainmaker Group’s (Rainmaker)
guestrev®
solution. Downtown Grand recently deployed guestrev to more accurately
and strategically set rates and pricing for various guest and player segments,
by analyzing total guest value to the property.
guestrev is built
on Rainmaker’s total guest valuation methodology, that analyzes guest spend
for the entire property or enterprise, including room, gaming, entertainment,
F&B, spa, retail, etc. guestrev ensures that room rates reflect
not just a guest’s expected room revenue, but also the total profitability
of each guest segment, including various player levels in the casino. Sophisticated
optimization algorithms factor-in both revenues and costs, resulting in
top- and bottom-line growth and rapid ROI after implementation.
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When
the Downtown Grand’s revenue management team first began the process of
selecting a revenue management technology provider, they focused on finding
an all-encompassing solution that would not only aid in yielding rates,
but one that could also easily integrate with the property’s existing casino
management system and PMS. This was a major focus for the property, as
its primary need was to implement a solution that could integrate data
from both systems to provide a comprehensive view and understanding of
guest value, by segment and individual spend.
“Originally,
we were using manual revenue management and pricing strategies, which proved
to be tedious and time consuming,” said Alex Kadota, director of revenue
management at Downtown Grand. “The ability to implement price changes effectively
comes from having a deep understanding of the market. We needed to gain
a clear view into the science behind yielding and this called for a system
that could help us lay out all of the varying, multi-dimensional sets of
data, to allow us to understand them on a deeper level.”
After
looking into a competing platform, the Downtown Grand turned to Rainmaker
for several reasons. Most importantly, the Rainmaker team was able to create
a seamless integration between guestrev, Downtown Grand’s PMS, and
its gaming system. In addition, Rainmaker’s impressive track record throughout
nearly two decades in business and the level of customer service and support
that was provided during the entire process were of equal importance for
the Downtown Grand team.
“Rainmaker
has an impeccable reputation in the industry, and we wanted to work with
someone who has had marked success at various other gaming properties with
similar needs and challenges to our own,” adds Kadota. “Additionally, a
great deal of attention and care was given to us during the implementation
process, and the Rainmaker team maintained a complete understanding of
exactly what we needed from start to finish to make this effort successful
and profitable.”
Since
its initial implementation in Q1 2017, guestrev has already proven
effective in helping the Downtown Grand team identify the specific revenue
management strategy and pricing challenges that needed to be addressed.
In addition to immediately increasing overall property profitability, the
solution has also generated cost savings by reducing on the time it takes
to analyze multiple data streams, including data that shows where guests
are spending their money. This allows properties such as Downtown Grand
to create pricing strategies specifically targeted to certain guest segments
and based on total guest value.
For
more information on guestrev and Rainmaker’s additional revenue
management and business intelligence solutions, visit: www.LetItRain.com.
About
Rainmaker
The
Rainmaker Group is the premier provider of revenue and profit optimization
solutions to the hospitality and gaming industry. Since its inception in
1998, the company has focused on delivering the highest revenue returns
possible for its clients, through the development and cultivation of a
proprietary suite of products and consulting services. Following a 2017
acquisition of its multifamily assets by RealPage Inc., Rainmaker is
100% focused on the hospitality market, with solutions designed to streamline
operational efficiencies, enhance revenue optimization processes, improve
lead performance and generate greater demand. Recognized as one of the
top privately held companies in the United States, Rainmaker has been named
to Inc. 5000’s Fastest Growing Privately Held Companies for the
last six consecutive years, and was named to the Atlanta Business Chronicle’s
List of the 100 Fastest Growing Companies in Atlanta. With corporate headquarters
in Alpharetta (Atlanta), Georgia, Rainmaker also maintains offices in Las
Vegas and Singapore. To learn more about Rainmaker and its suite of profit-
and demand-optimization solutions, please visit www.LetItRain.com,
and follow Rainmaker on Facebook,
LinkedIn
and Twitter.
About
Downtown Grand Hotel & Casino Las Vegas
Downtown
Grand Hotel & Casino is a unique hospitality and entertainment destination
right in the heart of revitalized downtown Las Vegas. Located on 3rd Street
between Ogden and Stewart, Downtown Grand encompasses an entire urban block
of hotel, casino and dining amenities. The property features two 18-story
and 25-story towers adjoined by a walking bridge elevated over 3rd Street,
with 629 guest rooms and suites offering luxury accommodations that set
a new standard for sophistication and style in downtown Las Vegas. Downtown
Grand’s casino offerings include 25,000 square feet of gaming space with
nearly 500 of the hottest slot machines, table games and a fully featured
sports book powered by William Hill. Restaurants, bars and entertainment
options include Freedom Beat, Furnace Bar, Art Bar, Sidebar and the award-winning
Las Vegas steakhouse Triple George Grill. Partnering venues include the
famous Hogs & Heifers saloon and Pizza Rock, renowned as one of the
best pizza restaurants in the city. Downtown Grand features Citrus Grand
Pool Deck, a rooftop pool experience with more than 35,000 square feet
of entertainment and special event space, an infinity pool, restaurant
and bar, semi-private cabanas, a fire pit and a grass seating area. For
more information, call 702-719-5100 or go to DowntownGrand.com.
Find on Facebook or Twitter @DowntownGrandLV.
Media
Contact:
Andrea
Mane
Plan
A PR & Marketing, Inc.
407-905-0608 |
