Hotel Online
News for the Hospitality Executive

Harrah’s Cherokee Casino Hotel: A Winner with Total Customer Value
->
Property leverages revenue management software to strengthen marketing
promotions, maintains leadership in Harrah’s portfolio
.

May 6, 2009
May 2009 – It is one thing to be the star performer in your hotel company’s portfolio. It is another to keep the title in today’s challenging environment. But the hotel at Harrah’s Cherokee Casino in North Carolina, which is posting overall occupancy of 100 percent with brand-leading gaming revenue per room night, is holding its own thanks to a heads-up business strategy and the revenue management system that supports it.

Even though the Harrah’s Cherokee gaming operation has been impacted by the national economic downturn, the hotel itself continues to perform on par with previous years. Much of the credit goes to a savvy executive team that is readily handling the challenges of a changing economy and to Rainmaker’s revolutionSM revenue management system used by all of Harrah’s properties and which the Cherokee Casino hotel implemented at its 2002 opening.

The 576-room property is fortunate that convention business is not its primary segment.  Thanks to its primarily leisure guest mix, it has avoided the downturn affecting corporate travel although leisure travel is softer than normal.
.


Harrah’s Cherokee Casino
.
“During the months of February, March and April 2009, our admissions and day-trip traffic are improving, but people are playing below their average gaming revenue level,” said Jeremiah Wiggins, director of planning and analysis for the Harrah’s Cherokee property. “It throws a curve ball at our revenue managers tasked with predicting total guest value and setting criteria for the rooms we have available, but we are still performing well.”

Accurate short-term forecasting is essential

The Rainmaker system forecasts hotel demand and then recommends the best room rate each night for guests based on their total customer value to help ensure that there is always availability for high-value guests. Tight integration with the hotel’s property management system ensures the most current data is used and makes the rate optimization process fast and efficient.

The system uses the previous year’s performance as a baseline and considers recent gaming revenue trends and input from Wiggins and his team. Wiggins acknowledges that a year ago he would have named revolution’s long-term (13 months out) demand forecasting capabilities as the system’s most important feature, but today it is the short-term forecasting capabilities that matter most.

“We are sitting down now planning for the summer, when we rely more on retail, unrated guests, and passers-by,” he said. “We do not have any reliable indicators whether those guests will be here or not, so the more our revenue management models can adjust to short-term trends, the better off we are. 

Tightly focused marketing

Wiggins noted the Rainmaker software solution is also valuable creating and tracking promotions that attract guests. “My team works with our marketing group to identify softer periods that will benefit from a promotion to stimulate demand.  With the help of more accurate forecasting we can create promotions that are more strategic. Last year we were hunting with dynamite, and this year we are focused and able to identify the most likely guest segments that will respond to our promotions.” Additionally, the North Carolina Travel Gaming Commission’s requirement that guests use a player card on 60% of the games at Harrah’s Cherokee, enables more accurate tracking of player value—information that can be entered into revolution as it creates optimized room rates based on total customer value.

 “We are completely committed to the revenue management process, and how it can benefit our entire property” said Wiggins. “The RM staff monitors demand every hour 24x7 to make adjustments to room availability, promotions and pricing. That dedication is what takes revenue management to the next level and makes it more effective.”

About Harrah’s Cherokee Casino and Hotel

Harrah’s Cherokee Casino & Hotel is an enterprise of the Eastern Band of Cherokee, located 50 miles west of Asheville at the entrance to the Great Smoky Mountains National Park. Harrah’s Cherokee Casino is open 24-hours-a-day to guests who are 21-years-of-age or older. For more information about Harrah’s Cherokee or to follow its $633 million expansion, please call 1-800-HARRAHS or visit our website at www.harrahs.com.

About Harrah’s Entertainment, Inc.

Harrah's Entertainment, Inc. is the world's largest provider of branded casino entertainment. Since its beginning in Reno, Nevada, more than 70 years ago, Harrah's has grown through development of new properties, expansions and acquisitions, and now operates casinos on four continents. The company's properties operate primarily under the Harrah's®, Caesars® and Horseshoe® brand names; Harrah's also owns the London Clubs International family of casinos and the World Series of Poker®. Harrah's Entertainment is focused on building loyalty and value with its customers through a unique combination of great service, excellent products, unsurpassed distribution, operational excellence and technology leadership.

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.

.
 
Contact:

The Rainmaker Group 
Tammy Farley
Principal
5755 North Point Parkway
Suite 77
Alpharetta, GA  30022
Phone:  678-578-5777
Email:  sales(at)letitrain(dot)com
http://www.letitrain.com

Media Contact – North America
Julie Keyser-Squires, APR
Softscribe Inc.
Julie(at)softscribeinc.com
(404)256-5512
http://www.softscribeinc.com
 

..
Also See: The Rainmaker Group Approved as Microsoft Certified Partner; Certification strengthens revenue management leader’s partnership with Microsoft / May 2009
The Rainmaker Group Announces revolution SM 1.6 Revenue Management; #1 Leader in Total Customer Value Revenue Management Implements Promoted Demand and Multiple Forecasting Models / April 2009
Windsor Communities Implements Rainmaker revolution LROTM Revenue Optimization at 10,000 Units; LRO demonstrates lease rent lift in conclusive pilot test / February 2009
Multifamily Revenue Management Leader Annie-Laurie McCulloh Joins The Rainmaker Group; McCulloh brings operations and pricing expertise to LRO provider / February 2009
Omni Hotels Advances Revenue Management Systems with Rainmaker; Two-Way Interface Between Rainmaker and Omni’s CRS Powers New System / January 2009
The Rainmaker Group, Leader in Profit Optimization Software, Opens Regional Office in Singapore; Expands Global Presence, Hires Managing Director Vivek Bhalla to Bring 'Total Customer Value' Revenue Strategy to Casino Hotels and Gaming in Asia Pacific Market / November 2008
The Rainmaker Group, Microsoft Team to Leverage Future Products for Gaming Hospitality Operators; Partnership Will Enable Operators to Extend Enterprise Data beyond Revenue Management / November 2008
Foxwoods Installs The Rainmaker Group's revolution Revenue Management System; Largest casino in North America uses Rainmaker to optimize profitability at 4 hotels with 2,221 rooms / October 2008
The Rainmaker Group 5th Annual Client Steering Committee Meeting Taps Financial Analysts for Revenue Think Tank; Wall Street analysts urge adoption of technology to drive greater revenue / October 2008
Carmel Partners Selects Rainmaker revolution LROTM Revenue Optimization Solution for 57 Communities; LRO delivers 3.55% lift in revenue billed per unit in 8 community pilot test / September 2008
Hollywood Casino Tunica Installs Rainmaker revolutionsm Revenue Management, Optimizes Rates, Occupancy; 494-room Hollywood / September 2008
Multifamily Housing Organizations Maintain Momentum; Revenue Management Strategies and Technologies Make Good Partners in Today's Economy / August 2008
Casino Hotel Operators Wield Strategies and Technology to Tame a Softening Market; Savvy revenue managers increase 'cash' customers, leverage revenue optimization technology to minimize the downturn's effect / August 2008
The Rainmaker Group Announces revolutionsm Product Suite on Microsoft Software Platform; Microsoft relationship enables flexible hosting options for Rainmaker’s profit optimization clients / June 2008
Wynn Las Vegas Implements Rainmaker revolution  Revenue Management; Rainmaker tapped by Wynn to optimize total customer value for 5-Star, 5-Diamond resort - / June 2008
Follow the Money: 10 Years of Profit Optimization Progress Pays Off for Operators; Customer service, revenue management focus in two markets a winning strategy for The Rainmaker Group and its clients / April 2008
The Rainmaker Group Welcomes Rod Collier and John W. Wallace to its Management Team; New top-level talent adds to Rainmaker's 250 years of combined profit optimization expertise in the revenue management community / March 2008
Rainmaker Transitions Post Properties' LRO Lease Optimization System to SunGard Hosting; SunGard frees Post team from system responsibilities, hosts application and database / January 2008
Rainmaker Group Leads Revenue Management Panel at GA Tech Conference; Rainmaker hosts Harrah's, MGM MIRAGE, Archstone-Smith execs for Revenue Management thought leadership event / October 2007
'Increasing Revenue' is Focus of Rainmaker Group Client Steering Committee Meeting; Multi-family executives assemble to shape future revenue optimization innovations / September 2007
Four Major Multi-Family Housing Operators Select The Rainmaker Group for Revenue Management Pilot Launch; Revenue Management specialist, Rainmaker, tapped for lease/rent rate lift programs by REITs and independents / August 2007
Mid-America Apartment Communities Installs Rainmaker revolution LRO SM Revenue Management Throughout 140 Properties; revolution LRO delivers a 3% rate increase to Mid-America in pilot test / August 2007
The Rainmaker Group and Realty DataTrust Partner to Introduce Optimized Multi-Dimensional Online Pricing for the Apartment Industry; Revolution LRO clients now able to market optimized rental rates on the Internet through VaultWare™ online leasing solution / June 2007
Trump Entertainment Resorts Installs Rainmaker Group revolutionsm Revenue Management Suite in All Atlantic City Properties; Trump uses revolution RM to optimize rates, manage increased demand for three properties and 2,900 rooms / June 2007
The Rainmaker Group Launches New Version of Multi-Family Housing Revenue Management System, revolution LRO; Revenue Management leader taps two math Ph.D.s, leverages data for more profitable business decisions by MFH operators / May 2007
The Rainmaker Group's 2007 Client Steering Committee Conference Expands 'Product Roadmap'; Revenue Management leader listens to users for product development guidance / April 2007
Casino Hotels Boost Profits with Rainmaker Group, Agilysys Tech Collaboration; Revenue Management and Property Management Systems identify profitable gamers / March 2007
The Rainmaker Group Hosts 3rd Annual Client Steering Committee Meeting; User Input to Guide Development; Revenue Management leader taps users for 'Project Roadmap,' assesses client priorities / March 2007
The Rainmaker Group Increases Staff 30%, Relocates to Larger Offices; Revenue Management leader adds business unit, expands to service growing client demand / March 2007
The Rainmaker Group Launches Revenue Management Pilots with Four Major Multi-Family Housing Operators; Rainmaker revolution LROsm system demonstrates immediate lease/rent revenue lift / January 2007
Boyd Gaming Hits 'Jackpot' With Revenue Management Strategy; Focus on guest value gives the advantage to the house / September 2006
The Rainmaker Group to Share Expertise at Revenue Management and Pricing Conference; Rainmaker Executive VP, Tom Walker, will speak at EyeforTravel Revenue Management and Pricing in Travel 2006 Conference / August 2006


To search Hotel Online data base of News and Trends Go to Hotel.Online Search

Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.