Treasure Island: guestrev a "great tool for yield management'
ATLANTA, GA - July 26, 2012 - Nearly 18 months ago, Treasure Island Hotel Casino in Las Vegas implemented The Rainmaker Group's Revenue Management software solution, guestrev, to serve as an important tool for maximizing profitability across its 2,900-room enterprise. After using the system for the last year and a half, officials of the largest privately held casino in Las Vegas are pleased with the results.
"It's a great tool for yield management," said Najam Khan, executive vice president and general manager of Treasure Island Las Vegas. "As a user, you still need to be able to think critically, but the system's capacity to factor in competitor rates and suggest optimal room rates to maximize revenue is one of its best features."
The level of integration between guestrev and the LMS property management system by Agilysys was a key factor in Treasure Island's decision to choose the Rainmaker system. The ability, in realtime, to provide the best rate based on total guest value, via the integration between guestrev and LMS, ensures that rooms are always available for the most valuable guests, without sacrificing the guest experience.
Rainmaker's guestrev system enables casino hotels to:
- Accurately forecast guest value across all revenue streams within a casino enterprise
- Leverage cyclical patterns to optimize revenue and profitability
- Maximize the value of demand during peak travel times
Used to manage over 100,000 rooms for leading casino hotel organizations, guestrev is the only revenue management system that considers Total Guest Valuewhen determining optimal rates and availability. Total Guest Value includes not only hotel room revenues, but potential revenue from gaming, food and beverage, spa, and other significant profit centers. The system also analyzes and factors in local influences such as holidays and city-wide events into the forecasted demand in order to recommend optimized rates for each guest segment.
About Treasure Island Las Vegas
Treasure Island (TI) Hotel Casino Las Vegas is a privately owned hotel and casino on the legendary Las Vegas Strip. At nearly 3,000 rooms, it remains the only major property to claim that unique position. Home to headline entertainment, The Sirens of TI and the original Cirque du Soleil show, MystÃ¨re, Treasure Island offers entertainment and dining options for the most discriminating of taste. For more information about Treasure Island, visit www.treasureisland.com.