The Rainmaker Group, the world leader in automated revenue management software and services to the casino gaming, hospitality and multi-family housing industries for total property profitability, announced that its fifth annual gaming and hospitality Client Steering Committee Meeting received record high marks from hotel and gaming executives. The event delivered value in stressful times, according to attendees and presenters alike-including Wall Street financial advisers who urged greater adoption of technology to drive new revenue streams.
"The Rainmaker Steering Committee meeting was the most productive, valuable conference I have attended," said Kelly Gunnoe, director of revenue management for MGM MIRAGE's Mandalay Bay Resort & Casino in Las Vegas. "Each session provided useful and pertinent information for our bottom line. A particularly strong presentation came from financial analysts on trends that will affect our markets." The Rainmaker Steering Committee reviews, validates and sets priorities for Rainmaker's "Project Roadmap," which is a constantly evolving plan for future system development.
Analysts predict comeback in 2010
Rainmaker hosted the event September 8 - 11 at the luxury beachfront Bacara Resort and Spa in Santa Barbara, California. The company invited a panel of three Wall Street analysts who predicted:
Regional markets will recover more quickly from the softening economy than destinations like Las Vegas and Atlantic City as commodity prices pull back
2009 will be another challenging year for the gaming hotel industry
The industry will come back with renewed strength in 2010.
Go beyond cost cutting to revenue optimization
The analysts underlined the importance of revenue optimization solutions for a hospitality gaming industry that has already "trimmed its fat" through effective cost-cutting practices. "Since gaming is still a people business, operators are reluctant to reduce labor levels beyond current levels and, as a result, will look to technology to drive top- and bottom-line improvements," said panelist Joel Simkins, senior vice president of gaming and leisure for Macquarie Capital (USA) Inc.
‘Moneyball' author delivers keynote
Rainmaker's keynote presenter was Paul DePodesta, special assistant for baseball operations for the San Diego Padres. When DePodesta was assistant GM of the Oakland Athletics, the team's remarkable success on a shoestring budget flaunted conventional wisdom that wealthy teams win out. That success was documented in the best-selling Moneyball: The Art of Winning an Unfair Game. DePodesta coached attendees on how to create innovative business strategies similar to those he used to build a winning baseball team.
Build a revenue management culture
The event featured breakout sessions on building a revenue management culture, with tips on how operators can embrace revenue management and foster cooperation from all departments. "Our meeting is a forum for industry leaders to share ideas on best practices," said Rainmaker President Bruce Barfield. "Professionals in our business want to leverage every opportunity from meetings like this. Our goal is to provide clients with content that benefits their companies and their careers."
About Rainmaker Group
The Rainmaker Group is a software and services company that provides revenue management for more than one-half million units in the gaming hospitality, multifamily housing and other industries. Rainmaker implements and supports the revolution Product Suite, which maximizes total property profitability for operators of casino hotels and other hospitality enterprises. The company enables clients to identify and maintain availability for their most profitable revenue sources through revenue management implementations. The Rainmaker Group helps casino hotels increase profitability through the accurate, instantaneous ability to determine the minimum acceptable value of each guest. This increases client profitability by securing the most profitable customers and developing more effective business processes. Hospitality clients include Boyd Gaming, Harrah's Entertainment, Omni Hotels, MGM MIRAGE, Trump Entertainment Resorts and other leading hotel companies.
The Rainmaker Group also provides the revolution LRO profit optimization solution that enables multifamily housing operators to maximize revenue from apartment leases. revolution LRO lease rate improvement results have been reviewed and validated by independent accounting firms. For more than five years revolution LRO has delivered optimized leasing rates to the largest operators in the industry including Archstone, Equity Residential, Post Properties, Laramar Group, Home Properties, Simpson Housing, Mid-America Apartment Communities, Carmel Partners and other leading multifamily housing companies.