LRO is Revenue Management of Choice for Top REITs
ATLANTA, GA - January 12, 2012 - The Rainmaker Group, the leading provider of revenue management and profit optimization solutions to the multifamily housing and gaming/hospitality industries, today announces it closed 2011 with more than one million apartment units either on or in the process of implementing its LRO revenue management solution. The company's market coverage now includes more than 225 multifamily owner/operators (including leading REITs, privately owned portfolios, institutional investors, and third-party management firms).
Adoption of LRO technology continues to accelerate as firms large and small realize the financial and operational benefits of implementing a top-tier revenue management system in a recovering economy, said Bruce Barfield, principal of The Rainmaker Group. Revenue management is here to stay and we remain committed to developing and delivering the most robust and industry-leading solution for multifamily portfolios.
In 2011, Rainmaker added over 75 new LRO customers nationwide, including Associated Estates and BRE, the only 2 publicly-traded REITs to add revenue management in 2011. With the addition of BRE and Associated Estates, nine of the 13 multifamily residential publicly-traded REITs operating revenue management systems are utilizing the LRO platform.
Additional 2011 growth milestones reached by the Rainmaker Group included:
- New customers were added across 20 different states. Customers added in 2011 own or manage more than 750,000 units.
- Added new customers including, but not limited to, Associated Estates Realty Corp., BRE, Buckingham Management, Cottonwood Property Management, Fairfield Residential, FPI Management, Inland American Communities Management and Timberland Partners, deepening Rainmaker's market share of the Top 50 managers that have implemented revenue management, as ranked by number of units by the National Multi Housing Council.
- The Rainmaker Group expanded its LRO teams in the areas of Development, Training, Implementation, Support, Account Management/Client Services and Sales.
Rainmaker LRO is the leading multifamily lease rate optimization solution used to maximize revenue from apartment leases. The system calculates optimized pricing based on hundreds of factors that influence rate setting, including traffic and lease duration, move-in dates, competitive affects and other metrics. The system also produces enterprise-wide demand forecasts by measuring and analyzing historical and current market metrics and performing calculations necessary for occupancy predictions that are dynamically updated as market conditions change.