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    April 11–13, 2018
    RAI Amsterdam Convention Centre
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    June 26-29, 2018

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The 2018 Lodging Technology Study: Travel Outlook, Systems Integrations, and the Cloud

The Rainmaker Hospitality and Gaming Blog 11 January 2018
The 2018 Lodging Technology Study: Disrupting Innovation, published by Hospitality Technology magazine aggregates information and research about the hospitality industry. This year, hotels identified inadequate budgets as the top challenge to their overall information technology efforts. While the information in the 2018 Lodging Technology Study hits on numerous topics of interest to us in the hospitality industry, we pulled out several points of interest for hotel revenue managers. Here, we share key data on the forecasted 2018 travel market, insights about systems integrations, and use of the Cloud with your RMS as key topics to consider this year.
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How Business Intelligence Will Improve Your Systems: 3 Expert Tips

The Rainmaker Hospitality and Gaming Blog 28 December 2017
There are exciting developments taking place in hospitality revenue management because of artificial intelligence, business intelligence, and machine learning. Business intelligence in particular has been a trending topic among hoteliers, but there's still a lack of adoption of the systems that leverage BI. What specific ways will business intelligence improve your hotel’s existing systems? Many RMS providers fail to answer that question. As a property owner or manager, it’s important to know what benefits you’ll receive before investing time and money into a new system.
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3 Ways Business Intelligence Improves Revenue Management Processes

The Rainmaker Hospitality and Gaming Blog 21 December 2017
In the past decade, the hospitality industry has experienced massive growth. With competition between properties reaching a fever pitch, hotel owners and revenue managers are looking for sophisticated and efficient ways to drive profits. Here, we’ll cover three competitive advantages of a top of the line business intelligence tool.
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Top 3 Strategies for Using Business Intelligence & Pricing Optimization

The Rainmaker Hospitality and Gaming Blog 13 December 2017
When you have the right information, getting the results you want is made much easier. For hoteliers, getting the right information was, and in some cases still is, a laborious process. It can be an expensive one as well, because the less technologically savvy a property is, the more profits they’ll lose to competitors.
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The 3 Key Components of Your Dynamic Pricing Optimization Strategy

The Rainmaker Hospitality and Gaming Blog 5 December 2017
In the past decade, pricing in the hospitality industry has come a long way. Thanks to advances in technology and methodology, hotel pricing has never been more efficient or profitable. With the rise of OTAs and distribution costs, it’s also never been as competitive. Having a firm grasp of the core concepts of dynamic pricing optimization is crucial to having an effective strategy. Here, we’ll address the three pillars to dynamic pricing optimization so that your pricing strategy is as competitive and profitable as possible.

What Other Industries Can Teach Hotels About Price Optimization

The Rainmaker Hospitality and Gaming Blog 30 November 2017
The hospitality industry is unique. However, it doesn’t exist in a vacuum. The revenue management principles and strategies that we use are employed across disparate industries. We may have inherited some or altered them to fit the specifics of our market, but the core concepts remain intact. When it comes to revenue management, there’s plenty that the hospitality industry can learn from other industries. Pricing optimization is one of the more challenging aspects of revenue management, but by looking at the ways that other industries have approached it, we can use their methods to provide solutions to our pricing issues.
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Hospitality Disaster Readiness: Revenue Management Considerations

The Rainmaker Hospitality and Gaming Blog 29 November 2017
When hotel managers awake to news of a disaster affecting their property, their first concern is rightfully for the safety of guests and employees. Having a plan in place before disaster strikes for the areas that are less likely to be on the forefront of your mind during chaos – the revenue management, operations, and information technology aspects of the property – can mitigate the negative consequences of the situation.
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A Step-by-Step Guide for Your RMS Purchase

The Rainmaker Hospitality and Gaming Blog 21 November 2017
The recent developments in revenue management system capabilities have made them more advanced than ever before. Today, we’re able to do intricate calculations at the click of a button that used to take hours of manual work. Dynamic pricing, revenue optimization, inventory management, and yield management are all ingrained in most of the revenue management solutions on the market. With all the features and improvements available, choosing the right RMS system for your property is more complicated than ever. How will you know where to start? Here are a few expert tips on how to choose the right RMS the first time.
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Maximize Ancillary Revenue With Advanced Revenue Management

The Rainmaker Hospitality and Gaming Blog 16 November 2017
The competition for guest revenue is more challenging than ever. OTAs and direct bookings are often neck-in-neck with each other during the guest’s booking process. The revenue competition comes to a halt, however, the second the guest walks through your hotel’s doors. Once they’re on your property, there are endless possibilities to upsell and upgrade to your guests.
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Buying Considerations for Your Hospitality Revenue Management Solution, Part II

The Rainmaker Hospitality and Gaming Blog 14 November 2017
As mentioned in a previous blog post, there are several key buying considerations when evaluating which next-generation revenue management solution is optimal for your property. A few key considerations include technology integration capabilities, channel management and optimization, customization to user and property needs, and group sales optimization.
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3 Easy Steps to Hotel Segmentation Strategy

The Rainmaker Hospitality and Gaming Blog 9 November 2017
Segmentation is critical to a successful revenue management strategy. Without accurate segmentation, it’s nearly impossible to have accurate forecasts or budgets. After all, if you don’t know who is booking your property and what channels they use, how will you know where to target your efforts to attract those guests? But if you haven’t set up your segments, where do you start? If you have segments in place, how do you know if they’re working? Depending on your specific property, there’s more than one ‘right’ way to set up your segmentation. However, regardless of every property’s unique characteristics, these are a few standards that apply to every segmentation plan.
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Buying Considerations for Your Hospitality Revenue Management Solution

The Rainmaker Hospitality and Gaming Blog 7 November 2017
What does nirvana look like for a hotelier? It is the idea of a revenue manager gazing into a crystal ball in the form of a revenue management dashboard and quickly generating precise demand forecasts for every night of the year across every room type and every guest segment. For a hotel collection with a few thousand rooms, the undertaking would involve generating some fifty million new forecasts on a daily basis. Impossible? The pipe dream is inching closer reality with the advent of next-generation revenue management solutions that analyze demand forecasts, competitor rates, price sensitivities and various other inputs and factors, including demand drivers like seasonality, day-of-week differences and market dynamics.
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The 2017 Smart Decision Guide to Hospitality Revenue Management

The Rainmaker Hospitality and Gaming Blog 31 October 2017
A celebrated physicist once famously remarked that prediction can be very difficult, especially when it's about the future. That certainly applies to forecasting demand for hotel guest rooms. With the advent of nextgeneration revenue management capabilities, however, predicting the future has become a lot easier, more accurate and more profitable. For those that have implemented next-generation revenue management solutions, the investment has generally paid off in spades.
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Using the Psychology of Pricing: Do "Experts" Fall for the Same Tricks?

The Rainmaker Hospitality and Gaming Blog 26 October 2017
Human beings are hard-wired to interpret and react to the world around them in certain ways, even if those reactions are often irrational and unpredictable. This seems to hold especially true when it comes to buyer behavior and many have long sought to understand the psychology behind the interesting quirks of human behavior that drive how we make purchasing decisions.
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Total Group Revenue Management Webinar Recap

The Rainmaker Hospitality and Gaming Blog 25 October 2017
In the third installment of Rainmaker’s Planning for Profit webinar series, Lydia Patterson addressed Total Group Revenue Management, focusing on how to create spend minimums that drive profit, and growing group revenue using lead lifecycle analysis. Any approach to group pricing goes beyond quoting the right room rate. Here are a few key takeaways from the webinar:
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Lead Scoring for Group Business: The Optimal Pricing Solution

The Rainmaker Hospitality and Gaming Blog 24 October 2017
In a perfect world, each group business RFP would just require a straightforward and efficient method to determine whether or not the bid is going to be profitable. Obviously, that’s far from the case. Group inquiries require coordination and sometimes compromise between several functions within a given property. After all, something that’s appealing to catering may not make sense for revenue managers. Gathering all of the requisite data from disparate groups to balance the bid against potential transient business makes an already challenging process even more troublesome. Also, all of the additional time created trying to get all the moving parts in sync means that the property could be losing conversions by taking too long.
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Avoiding the RevMan Bottleneck: How to Efficiently Manage Your RFPs

The Rainmaker Hospitality and Gaming Blog 19 October 2017
Bottlenecks are an inconvenient part of everyday life. We experience them in traffic, at the store checkout, and especially the DMV. Even though we have to tolerate them in our daily world, we shouldn’t have to put up with the inefficiencies that bottlenecks create when we’re trying to process group business requests for proposals (RFPs).
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Group Pricing: Why the Minimal Acceptable Rate is a Trap

The Rainmaker Hospitality and Gaming Blog 12 October 2017
revmgmtebooks.png By now, we're all familiar with the challenges of forecasting and bidding for group business. While those are all crucial to group business, the most important aspect is, of course, price. As the goals behind group business shift from occupancy to revenue, the process of accurately pricing rooms has become infinitely more complicated. Revenue managers have to consider comp sets, sales incentives, availability, and impacts on transient business before determining a room rate. Due to a lack of technologically advanced tools and the multitude of considerations for group business, pricing rooms has primarily been a tedious, manual process.
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Hospitality Pricing Differentiators: How to Determine Hotel Room Prices

The Rainmaker Hospitality and Gaming Blog 10 October 2017
In the hospitality realm, pricing is the revenue manager’s tool for exerting control over how and when rooms are sold to consumers. Every room on every booking date is an opportunity for managers to set unique prices that will maximize net revenue. Pricing should be holistic, comprising not only room pricing but the potential total spend of the visit.
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The Art of Forecasting for Group Business: An Overview

The Rainmaker Hospitality and Gaming Blog 5 October 2017
Forecasting is a complicated and essential part of every property’s revenue management process. That’s especially true for group business. Group business can affect every segment of a property’s profits since it impacts both transient business and ancillary revenue generators. Until very recently, there’s not been much progress in developing a sophisticated revenue forecasting system for group business. Yield management, which is the process by which a property optimizes the profitability of their rooms, has typically only focused on transient business with group business as an afterthought.
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Understanding Group Segmentation for Profit Generation

The Rainmaker Hospitality and Gaming Blog 28 September 2017
There are numerous factors that impact group business revenue. A well-designed platform of data and analytics is critical to ensure accurate forecasting and pricing. Before you can start building out your metrics, you have to have a thorough understanding of your property’s segmentation, and nowhere is that truer than when dealing with group business revenue.
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The Art of Hospitality Demand Forecasting

The Rainmaker Hospitality and Gaming Blog 26 September 2017
The first step in creating a revenue management strategy is to forecast future demand. The value of a hotel room perishes, or is lost, for any given night they are not booked. Even if the goal is not full occupancy, there is a real need to understand upcoming demand in order to determine what prices various customers will be willing to pay on a given night. For example, a big event in the local area may create higher demand, which means customers will be willing to pay more for a room. But in lower-demand periods, it may be necessary to lower rates to remain competitive and raise occupancy. A good forecast allows managers to set a detailed strategy that takes all these fluctuations into account.
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Why Group Revenue Is Essential: Understanding the Importance of Group Business

The Rainmaker Hospitality and Gaming Blog 21 September 2017
Group revenue is one of the most consistent and profitable segments of any property’s overall business. No other segment can be counted on, year over year, for both room and ancillary revenue. In fact, even with record setting occupancy rates, group revenue rates have nearly matched pace with overall growth from the transient sector. The global business travel market is booming, and our current stable global economy means that RevPAR and revenue for group business travel are expected to increase in 2018.
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Budgeting for Profit, Not Just Revenue: Webinar Recap

The Rainmaker Hospitality and Gaming Blog 20 September 2017
In the second installment of Rainmaker's Webinar Series, VP of Hospitality Solutions Angie Dobney tackled the topic of how to budget for profit, not just revenue. With more than two decades of experience in revenue management and hospitality operations, Angie provides guidance and hands-on optimization of total resort profit to Rainmaker's industry-leading gaming and hospitality clients.
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Charting Unknown Waters: Hospitality Risk Management In A Volatile Era

The Rainmaker Hospitality and Gaming Blog 14 September 2017
One glance at the news and it’s obvious that the world is rapidly changing in unexpected ways. When the financial and political markets are turbulent, it’s harder than ever to avoid feeling anxious about the future. Global economic fluctuations, Brexit, a new presidential administration, oscillating transportation costs and oversaturation in the hotel industry have all contributed to the uncertainty that surrounds hospitality today.
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How BI Optimized Software Will Enhance Your Budget Planning

The Rainmaker Hospitality and Gaming Blog 14 September 2017
BP1.jpg The hospitality industry is a highly competitive, ever changing market. Consumers have more options today than ever before when choosing a property for business or leisure travel. With so much at stake, budgeting and forecasting methods must be accurate and efficient. However, given that most hospitality budgeting still lives in spreadsheets, there's plenty of room for human error.

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