MaximRMS Enhances Group Revenue Management Capabilities with Group Escalated Target Rates
CHICAGO, Illinois - August 7, 2007
- Maxim Revenue Management Solutions (MaximRMS) announces today that a new advanced capability is available to help hotels, resorts and casinos better revenue manage their Group customers.
The new capability takes a multi-year history of group data and gives revenue managers a benchmark for setting the group target rates. This new capability significantly increases the revenue growth potential for a hotel.
Common practice of hotels in the past to simply auto-escalate the base rates may help the revenue manager provide a starting point for group rates,
but does not necessarily position hotels for effective rate growth. Strategic and tactical factors that enter into the group rate negotiation may
further obscure visibility to the growth posture.
Group Escalated Actual Rate (GEAR), provides the data analysis and computational approach that delivers a recommended group target rate. GEAR uses multiple years of daily pricing outcomes for each hotel and provides a weighted projection for as many years into the future as the hotel will accept group bookings.
GEAR reports utilize color-coding and background shading to help the user quickly scan for exceptions and areas to focus attention.
"GEAR provides a significant improvement in setting group target rates," states the Vice President of Revenue Management at a Maxim eFlex customer, "And further enhances the exceptional capabilities for Group Revenue Management featured in the eFlex Revenue Management System. Using GEAR, hotels can drive significantly greater revenue growth than before."
This enhanced capability gives revenue managers more visibility into their growth posture, a reference point to assist in setting their target rate through their current rate management tools, and greater abilities to grow the revenues of their property.
About Maxim Revenue Management Solutions (MaximRMS)
MaximRMS is the leading provider of automated revenue management for hotels and resorts worldwide.
Since 1995, MaximRMS has provided revenue management solutions for all types of properties - city-center,
suburban, roadside, convention, resort, select/limited service, extended stay - ranging from 40-room
boutique resorts to 5,000-room mega-convention properties. Through its patented Marginal Value Engine (MVETM), Maxim eFlex offers optimization of net profitability, across all markets and distribution channels. The result is an increase directly to the bottom line - delivered every day in hundreds of installations around the world. Maxim offers the easiest to use and most complete portfolio of revenue management tools available, including group forecasting and management, distribution channel optimization, competitive rate analysis and intra-day optimization. Maxim products are compatible with all PMS, CRS, GDS and Internet distribution channels. With the large scale deployment of Maxim eFlex systems, Maxim offers the ultimate in implementation flexibility along with the best ROI.
To improve your own group revenue management, please contact MaximRMS at +1-773-572-2060 or visit www.MaximRMS.com today.
