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The House Always Wins: How smart technology maximizes revenue strategies for gaming properties

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Webinar with Rainmaker and Nor1. Video available at https://youtu.be/b84gSaLoXHc

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When it comes to revenue and guest management at casino hotels, don’t leave it up to chance—gain the best advantage by using an integrated end-to-end tech solution designed to maximize your per guest profit.

The unique characteristics of gaming properties means that traditional hospitality platforms don’t always fit the bill for what casino hotels need. In this webinar, we’ll discuss important pricing, booking, and merchandising strategies specific to gaming properties, as well as how specialized technology can help you to execute those strategies in a smart and streamlined process.

Experts from Rainmaker, Travel Tripper, and Nor1 will discuss:

- How total guest profit should be factored into pricing and yielding decisions

- Aligning your teams to expedite group quoting and maximize revenue

- Optimizing for direct bookings, especially with high-value gaming customers

- Maximizing order value per guest during the booking process

- Merchandising and allotment strategies for premium upgrades and amenities

- Building customer loyalty through personalized pricing and merchandising

Published in: Technology
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The House Always Wins: How smart technology maximizes revenue strategies for gaming properties

  1. 1. WEBINAR: THE HOUSE ALWAYS WINS How smart technology maximizes revenue strategies for gaming properties February 20, 2018
  2. 2. Speakers 2 ANGIE DOBNEY VP of Gaming Sales MICHAEL LINTON Business Development Director PAVAN KAPUR Senior VP of Global Gaming MIKE PAVICICH Director of Hospitality Sales
  3. 3. Agenda PART 1 Revenue Strategies ● How total guest profit should be factored into pricing and yielding decisions ● Aligning your teams to expedite group quoting and maximize revenue ● How an integrated profit optimization cloud solution drives all aspects of business PART 2 Booking Strategies ● Catering to gaming customers ● Optimizing for direct bookings for large casino properties ● Maximizing order value per customer PART 3 Merchandising Strategies ● Upselling and allotment strategies for premium room products and upgrades ● Merchandising key resort amenities to capture maximum share of wallet ● Building customer loyalty through personalized pricing and merchandising PART 4 Audience Q&A 3
  4. 4. Revenue Strategies for Casino Properties Strategies that add to the science of Revenue Management to increase profit for casinos
  5. 5. 5
  6. 6. Total Property Profit Optimization Property-Wide Objective: Fill the property with the highest value, most profitable mix of business What is the result? Optimal rates for each segment are recommended which drive the most profitable mix Confidence that the mix of business is the best which can be achieved Ability to identify areas for opportunity and/or concern well in advance All departments have freedom to sell rooms Reduce or eliminate 11th hour scrambling to fill rooms 6
  7. 7. Total Property Profit Optimization Forecast ● Understand the data used to forecast ● Know the movement by customer segment ● Track your accuracy ● Get all departments involved ● Customer buying behaviors ● Intelligent rate shopping to help understand the demand ● Understand your cost of acquisition 7
  8. 8. Total Property Profit Optimization Marketing ● Customer evaluation methods ● Revenue sources ● Use data to pinpoint where you need the business ● Understand cost of acquisition ● Include online marketing expenses ● RM should dictate what offers go out, not marketing! ● Know how to optimize online marketing channels ● Track everything 8
  9. 9. Total Property Profit Optimization Reporting ● Stop manually typing information ● Use a tool that is dynamic and can pull from different sources and can update easily ● Train your bosses on the reports! ● Don’t wait on the pace report from your OTA partner, create your own! 9
  10. 10. Booking Strategies for Casino Properties A booking solution that maximizes revenue from your most valuable guests
  11. 11. Hotel Industry Challenges are Amplified in the Gaming Industry More Inventory Increases the Need to Maximize Direct Bookings ● Many casino resorts have room inventory in excess of 2,000 rooms. ● This accentuates the hotels reliance on OTA’s to fill room nights. ● In destinations like Las Vegas, with approximately 150,000 hotel rooms, competition is fierce More Onsite Venues and Amenities Increases the Need to Sell Additional Products Loyalty Programs Have to be Adapted to meet the Expectations of Gaming Customers 11
  12. 12. Maximizing Direct Bookings for Large Casino Properties The booking engine must have features to stimulate demand and increase conversion. (e.g., room scarcity messaging, email retargeting, Best Rate Guarantee, etc.) Selling multiple rooms during the booking process. This is a necessity for properties with room counts in excess of 1,000 and large groups/conventions in town so frequently. Multi-property booking engines help hotels with several properties in a market to maximize return on their digital ad spend. 12
  13. 13. Maximizing Order Value Per Customer Selling Ancillary Products During the Booking Process ● Amenities ● Dining ● Entertainment ● VIP Check-in ● High Floor ● Early Check-in/Late Check-out ● Spa treatments Selling Packages ● Enables the hotel to discount rooms or services in a way that is opaque to the customer ● Helps keep the guests on property, using the resorts amenities. 13
  14. 14. Catering to Gaming Customers For many casino resorts, casino players have to call the hotel to book casino rates and promotions, using valuable call center resources to complete the transaction. The call center agent uses the customers player account number to pull up the customers player profile in the casino management system (CMS). The call center agent reviews what rate plans/offers are available to the casino customer, then processes the booking in the property management system (PMS). In today’s environment, casino players should be able to do this online! 14
  15. 15. Example Casino Loyalty Tier Ranking Structure Use Case: Player John Smith, player card #12345 10/1: John has an ADT of $800 based on his play history. Therefore, John is a tier 5 player and is eligible for Casino Rate 1-7. 10/9: John has an ADT of $500 based on his play history. Therefore, John is a tier 3 player and is eligible for Casino Rate 1-4. 10/23: John has an ADT of $1200 based on his play history. Therefore, John is a tier 6 player and is eligible for Casino Rate 1-8. Casino Rate Availability Base on Players ADT Tier Purple Gold Black Red Tier 1 Tier 2 Tier 3 Tier 4 Tier 5 Tier 6 Tier 7 Avg Daily Theoretical (ADT) $100-$250 $251-$350 $351-$500 $501-$750 $751-$1000 $1001-$1500 $1500+ Casino Rate 1 A A A A A A A Casino Rate 2 A A A A A A A Casino Rate 3 A A A A A A A Casino Rate 4 A A A A A A A Casino Rate 5 U U A A A A A Casino Rate 6 U U U A A A A Casino Rate 7 U U U U A A A Casino Rate 8 U U U U U A A Casino Rate 9 U U U U U U A Casino Rate 10 U U U U U U A A= Available U=Unavailable 15
  16. 16. Catering to Gaming Customers A casino booking engine must have the ability to handle Casino Comps, this requires: Allowing casino customers to log-in using their player card number and pin. Interfacing with gaming technology vendors like Scientific Games, Aristocrat Technologies, IGT, Konami, etc. Displaying a room as comp to the customer but passing a rate to the PMS for accounting purposes. The ability to blend multiple rate plans and apply multiple player accounts to qualify offers. The ability to redeem player offers from the casino management system. 16
  17. 17. Merchandising Strategies for Casino Properties Strategic merchandising and personalized pricing to maximize revenue
  18. 18. A cloud-based, mobile-first, scientific data-driven approach to successful personalized merchandising
  19. 19. State-of-the-Art Intelligence Is applied to every guest upsell transaction Pricing & Merchandising – Real Time Our predictive modeling engine, which trained on millions of transactions, first leverages machine-learning techniques using a global model. Over time, it matures and prices each upgrade offer based on the individual property. Nor1 holds two PRiME® patents: • “Computer-Implemented Systems and Methods for Automatic Merchandising” • “A Method and a System for Simultaneous Pricing and Merchandising” It’s the right product and right price, offered at the right time to the right guest 19
  20. 20. Nor1 Merchandising Platform Personalized commerce at the intersection of mobile and artificial intelligence PRiME® is our predictive modeling engine, trained on millions of historical transactions, which makes real-time decisions on product selection, pricing and display rank. It leverages data from consumer and supplier profiles, behavioral observations, real-time transaction information and available inventory, and understands the consumer’s willingness to pay. PRiME® helps steer demand for the benefit of the supplier. Nor1 holds two patents for: • “Computer-Implemented Systems and Methods for Automatic Merchandising” • “A Method and a System for Simultaneous Pricing and Merchandising” • A unique buying process that allows merchants to price and merchandise perishable inventory more effectively • Utilizes PRiME® technology to optimize offers • Connects travel consumers and decision makers Nor1 holds two patents for: • “Method for Transacting for a Perishable Object Having an Uncertain Availability” • “System and Method for Transacting for an Upgrade Having an Uncertain Availability” • Utilizes PRiME® technology to optimize offers • Creates a brand standard for front desk upsells • Empowers Front Desk staff to maximize upsell opportunities • Provides agent portal that drives top-of-mind awareness • Includes management module providing pre-shift intelligence, reporting and administrative tools • Is PMS agnostic • Offers scalable and sustainable training • Creates upsell and ancillary offers across a reservation’s life-cycle • Has mobile optimized delivery • Covers room inventory • Includes hotel amenities • Uses PRiME® intelligence to produce offer sets • Provides API and SDK for broad integration @ Booking Check-in On-PropertyPre-arrival • Enables hotels and resorts to make confirmed upsells to their guests based on last-minute inventory • Delivers upsell offers that take eStandby® requests into consideration and can be scheduled until the day of check-in • Makes room offers based on real-time inventory access • All timing, pricing and merchandising of offers are driven by PRiME® Machine Learning/ Artificial Intelligence 20
  21. 21. Guest Journey
  22. 22. Audience Q&A 22
  23. 23. Thank you! Please send all follow up questions to marketing@traveltripper.com. The webinar video and presentation will be made available to all registrants within 1 day.

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