|CHICAGO, June 14, 2004 - Maxim Revenue Management
Solutions (MaximRMS), the leading global provider of Revenue Management
and Profit Optimization software and services for the hospitality industry
and ARAMARK Harrison Lodging, which operates more than 50 conference centers,
corporate training centers and distinctive specialty hotels, have signed
an agreement to implement MaximRMS’ LexKey Revenue Management system at
all ARAMARK Harrison properties. The first round of implementations begins
with six premier properties: The Harrison Conference Center - Glen Cove,
NY; The Harrison Conference Center - Lake Bluff, IL; The Merrill Lynch
Conference Center - Plainsboro, NJ; The John Hancock Conference Center
and Hotel - Boston, MA; The ETS Chauncey Conference Center - Princeton,
NJ and The McCamly Plaza Hotel - Battle Creek, MI.
Announcing the agreement, Ravneet Bhandari, Senior Vice-President of Marketing for MaximRMS said: “We are delighted to welcome ARAMARK Harrison Lodging to the global family of MaximRMS customers. We have been very impressed with their understanding of the revenue management profit opportunities and challenges faced by today’s operators, and their commitment to implementing the best revenue management technology. We are very pleased that MaximRMS has been selected as the exclusive revenue management provider to all ARAMARK Harrison Lodging properties, and we look forward to delivering significant improvements to the bottom line at every ARAMARK Harrison Lodging Conference Center or Hotel.”
Chris Gennardo, ARAMARK Harrison Lodging’s Vice President of Revenue Management said, “After extensive research we concluded that MaximRMS is the only partner for us. They successfully meet all of our Revenue Management requirements. We need a solution that offers more than length of stay controls and with MaximRMS we enjoy tools that optimize all of our revenue channels as well as group forecasting modeling. It is clear that MaximRMS designed LexKey from the property revenue management team’s perspective and support it with some of the most advanced technology found today. We are looking forward to partnering with MaximRMS across our entire portfolio of Conference Centers and Collegiate Hotels.”
Launched in 2003 as a collaborative partnership between MaximRMS and Lexington Services / VIP International, LexKey is a customized version of MaximRMS’ web-based maxim® E.Flex system, and is the most advanced and powerful revenue management system available today. LexKey is the only solution that is specifically designed to allow a hotel to optimize Revenues, RevPAR and Profits from all of their distribution channels. LexKey's design and best-in-class mathematical algorithms allow it to analyze customer behavior and recognize the price-sensitivity and profit potential of each distribution channel for every future arrival day. These trends are then converted into detailed and accurate demand and revenue forecasts and the patented optimization engine generates the ideal revenue management controls for each channel: what price to charge on any given day, what room types to sell, and what lengths-of-stay to accept. All of these controls are then uploaded directly to each distribution channel through LexKey's interface with Lexington Services' central reservations system, allowing all hotels to seamlessly optimize their inventory and rates in all channels. An easy-to-use, highly intuitive front-end allows hotels to access their system from any computer that has a web browser installed.
LexKey will be on display at the HITEC show in Dallas from June 22-24, 2004. Please visit MaximRMS at Booth # 836 or Lexington Services at Booth # 420 for more details.
About Maxim Revenue Management Solutions (Maxim RMS)
MaximRMS is a pioneer in the field of automated revenue management. The founder of MaximRMS led the team that performed groundbreaking research in mathematical forecasting and optimization to develop the first revenue management system. That same group of experts joined forces to create maxim® for the hospitality industry. Through its patented Marginal Value Engine (MVEtm), maxim® is the only hospitality Revenue Management System that offers Profit Optimization. maxim® forecasts and optimizes the net profit contribution from every future reservation and guest stay. The result is an increase of at least 6% to the bottom line - delivered upon every day in many hundreds of maxim® installations around the world. Through the creation of a global hospitality alliance with leading users and providers of Revenue Management Systems, MaximRMS has become a primary supplier of Revenue Management products and services for the Hospitality Industry around the world. Offering the easiest to use and most complete portfolio of Revenue Management tools available, including group forecasting and management, pricing, intra-day optimization and 24/7 OnDemandSupport, maxim® is compatible with all PMS, CRS, GDS and internet distribution channels. With the introduction of the customer-driven maxim® Flex and maxim® E.Flex systems, MaximRMS offers the ultimate in implementation flexibility along with the best ROI. Point.Click.Optimize…. that’s the Bottom Line. For more information please visit www.maximRMS.com.
About ARAMARK Harrison Lodging.:
Offering a collection of the world's most effective environments for learning, communication and personal growth, ARAMARK Harrison Lodging operates more than 50 conference centers, corporate training centers, and specialty hotels in educational environments — each strategically located close to leading business destinations. The company supports the stringent standards of IACC and harnesses the power and expertise of its founding entities to expand its contributions to the industry. Parent company ARAMARK was named among Fortune Magazine's "Most Admired Companies in America" this past spring, and its CEO was cited as among the best business leaders in the world in the September 2002 and January 2003 issues of BusinessWeek.
To learn more about ARAMARK Harrison Lodging or to book a meeting, log onto www.aramarkharrisonlodging.com, or call the company's "one stop" sales office at 1-800-422-MEET.
|Also See:||Optimizing Revenues and Profits across Distribution Channels: Lexington Services and Maxim Revenue Management Solutions present LexKey / June 2003|
|Maxim Revenue Management Solutions Establishes Long-term Presence in Japan, Signs Key Agreement with Leading Hospitality Consulting Firm, PHASE, Inc. / April 2003|