The most innovative sales empowerment tool for group forecasting and pricing
GroupREV® is an innovative software solution that utilizes a scientific modeling and elasticity-based approach to solve the many longstanding challenges associated with group forecasting and pricing. Simply stated, this standalone system delivers a better way to forecast and price rooms for groups using a whole new level of sophistication and efficiency.
Goodbye Gut. Hello Science.
Over the years, quoting group business, to a large extent, has been based on displacement analysis and gut instinct. A void in technology has been a principal reason for this unscientific, rather narrowcast pricing methodology.
GroupREV® is the technology that fills this void. Highly sophisticated, yet remarkably easy-to-use, this innovative system advances group pricing beyond time-consuming, manual methodologies to a new, higher level of science and sophistication – specifically, dynamic predictive behavioral modeling and advanced pricing optimization.
Quote with Confidence
Armed with the strong scientific foundation of the system, GroupREV® empowers sales managers and sales leaders to quote with confidence by providing a market-based range of rates targeted to the specific needs of each prospective group customer. It allows them to be more strategic and gives them greater confidence to quote rates and drive optimal revenue for each and every group booking.
Make Faster, Better Decisions
Sales managers typically spend significant time and energy tracking down and pouring through data to arrive at group rates they are comfortable with quoting. This necessary gathering of analytical data means they often forfeit valuable time to better understand and address the needs of their prospective customers.
GroupREV® compiles all the data from multiple sources, from multiple locations, and houses it in one section. Using this data, the system quickly (in seconds!) and accurately delivers three levels of group pricing intelligence – expressed as a floor rate, an optimal rate, and a ceiling rate. By automating the group pricing process, GroupREV® frees up the sales team to channel more time and energy on building the critical relationships fundamental to success and, as importantly, gives them a pricing range to confidently negotiate to win the business and at the most profitable rate for the hotel.
Delivering Measurable Results
GroupREV® delivers a total group revenue lift in the range of 5-10%. The system results can also be measured by fewer lost deals, improved materialization of won deals, higher rates for less price-sensitive groups, and a reduction in transient lost business.