Mystic Lake Casino Hotel, in Prior Lake, Minn., will implement TribalREV®, Rainmaker’s comprehensive revenue management software solution provided as a managed service. The two entities finalized the agreement in mid-January and the solution will be implemented in the first quarter of 2014.
Billed as the largest casino resort destination in Minnesota, Mystic Lake offers 586 well-appointed guest rooms and suites, nearly 100 Blackjack tables, more than 4,000 of the most popular slots and a state-of-the-art high stakes bingo hall, a wide variety of restaurants and bars, an indoor pool, whirlpool and sauna, and a 2,100 seat venue (The Mystic Showroom) for world-class entertainment.
Today’s dynamic gaming environment, increased competition, and the lingering recession have forced operators to be smarter and operate more efficiently. Fortunately, the dramatic increases in data-storage and processing capabilities have allowed Rainmaker to undertake steadily more complex analysis for customers ranging from a 128-room hotel to a 5,000-room resort. The revenue increases typically come from small adjustments in room rates — moving nightly rates by $10 to $25 to make sure that rooms are priced to achieve the greatest value.
TribalREV leverages Rainmaker’s award-winning GuestREV® software, combined with a seasoned revenue management expert.