MaximRMS Names Henry Feinberg as Chairman of the Board
Former Chairman and CEO of Rand McNally to head leading edge provider of revenue management software for hospitality industry
CHICAGO, 9-August-1999 - Henry J. Feinberg, formerly Chairman and Chief Executive Officer of Rand McNally, has been appointed Chairman of the Board of Maxim Revenue Management Solutions, (MaximRMS). MaximRMS is the exclusive worldwide distributor of maxim®, a state-of-the-art revenue management system for the hospitality and car rental industries. maxim utilizes the Marginal Value Engine that was developed to achieve the highest level of revenue from rate and room offerings.
"Revenue management has become the killer application of the hospitality industry," said Feinberg, "and we intend to capitalize on that. MaximRMS has one of the greatest value propositions for their customers that I've ever seen. maxim's proven ability to generate millions of dollars in new revenues and profits for companies such as Starwood Hotels and Resorts Worldwide, Four Seasons Hotels and Resorts, Preferred Hotels, and Peninsula Hotel Group is only the beginning. We are also enthusiastic about extending maxim's price optimization technology to the Internet's dynamic world of e-commerce," said Feinberg. "Any hospitality company that is using the Internet to conduct business can significantly benefit from maxim's proprietary technology."
Feinberg joins MaximRMS from Rand McNally & Company, the world's premier provider of geographic information in print and electronic media for travel reference, education and entertainment. Under Feinberg's leadership, Rand McNally transformed from a traditional print publisher to a consumer branded multimedia information based company.
"Henry has an incredible track record of achieving success in a wide variety of businesses enabled by his leadership skills, strategic marketing vision, and hands-on work ethic," said Steve Gelb, MaximRMS founder and Managing Director. "He is an extraordinarily talented senior executive with tremendous software and technology business development knowledge that will immediately benefit maxim's customers, strategic partners, employees and shareholders."
About Revenue Management
"The concept of Revenue Management is becoming a requirement for companies that want to generate sustained revenue gains by maximizing the availability and pricing of their products," said Randall Blumenthal, Vice President of Goldman, Sachs & Co.
Four Seasons Hotels and Resorts provides an example: "We reviewed and evaluated other systems, paying careful attention to cost as well as performance." said Nick Mutton, Senior Vice President, Operations for Four Seasons. "We selected maximbecause we believe the system will quickly generate increased revenues and profits. maxim impressed us as a feature-rich system that combines superior ease of use with powerful optimization and forecasting capabilities."