The Rainmaker Group Closes Sale of Multifamily Housing Assets
Company to focus exclusively on continued growth of its hospitality business
ALPHARETTA, GA -- The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced the closing of its sale of Rainmaker LRO multifamily housing business and product portfolio to RealPage, Inc., a Texas-based provider of software and data analytics to the real estate industry. The sale allows Rainmaker to strengthen its position as the leading provider of revenue management solutions for the hospitality and gaming industry.
"We have partnered with the hospitality community for more than 20 years, and we look forward to continuing an excellent relationship with the hotel and gaming market," said Tammy Farley, president of The Rainmaker Group. "Our focus now is exclusively on growth and innovation for our hospitality customers. It is an exciting time for our company as we begin this new chapter, and we wish the team at RealPage every success."
Rainmaker's groundbreaking revenue and profit optimization product suite includes:
- guestrev®, an intuitive and easy-to-use revenue management solution that analyzes total guest value across a hotel or casino property to forecast and price rooms;
- grouprev® an innovative group pricing solution that streamlines the process of responding to group RFPs by analyzing historical data, future demand, and price sensitivity to recommend the best pricing for group business;
- revcaster®, a powerful rate shopping tool that gives hoteliers access to real-time actionable market data, so that rates can be set against the competitive landscape; and
- revintel®, an intuitive business intelligence solution that improves day-to-day revenue management by mining various data sets and providing deep insights at a granular level.
Rainmaker announced the sale of its multifamily housing assets to RealPage in February. The asset purchase price was $300 million.
Rainmaker is the hotel revenue and profit optimization cloud. The company partners with hotels, resorts and casinos to help them outperform their revenue and profit objectives. Rainmaker's cloud-based solutions for transient and group pricing optimization, forecasting, and revenue-centric business intelligence are designed to help hoteliers streamline operations, enhance revenue optimization processes, improve lead performance, and drive guest bookings. 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 seven years and to the Atlanta Business Chronicle's list of '100 Fastest Growing Companies in Atlanta'. Rainmaker serves hospitality customers throughout the world from its corporate headquarters in Alpharetta, Ga., and from offices in Las Vegas, Portland, Ore., and Singapore. To learn more about Rainmaker and its suite of hotel revenue and profit optimization solutions, visit www.LetItRain.com.Property TechnologyTravel technologyPartnerships, Mergers & AcquisitionsUSA & CanadaUnited States