The Rainmaker Group to Sell LRO Multifamily Housing Assets to RealPage
The Rainmaker Group, a provider of profit optimization and revenue intelligence solutions to the hospitality and gaming industries, announced that it has agreed to sell its Rainmaker LRO multifamily housing business and product portfolio to RealPage, Inc., a Richardson, Texas-based global provider of software and data analytics to the real estate industry.
The sale is said to be a win-win for Rainmaker's LRO and hospitality customers. Combining these companies presents exciting opportunities and the ideal platform for Rainmaker's multifamily team to execute in a much bigger way on a global scale. Moreover, this initiative will further strengthen Rainmaker's hospitality business on multiple levels. Its team has literally man-centuries of experience serving hospitality customers and now this expertise and corresponding thought leadership will be 100% focused on continuing the impressive growth of its hospitality and gaming business.
Farley and CEO Bruce Barfield established Rainmaker in 1998 as a two-person team in Alpharetta, GA. In the 19 years since, the company has grown and evolved to become a global corporation and technology-solution provider. The company has made enormous progress growing its traditional hospitality roster, recently adding marquee names such as Best Western and Two Roads Hospitality. Further evidence of this momentum will be on display next week, where a record number of hospitality company delegates will descend on Rancho Palos Verdes, Calif., for OPTIMIZE2017, the annual Rainmaker user conference. In just the last two years alone, hospitality company registered attendees have doubled in size.
The sale of the LRO business also will allow its large and diverse hospitality team to unleash its deep hospitality revenue expertise and set in motion the next stage of its growth and evolution to advance its vision in hospitality – a dynamic, vibrant industry in which it believes the best is yet to come. It will also allow the company to fully focus its efforts on perfecting its various hospitality and gaming profit optimization and revenue management solutions.
Rainmaker’s hospitality and gaming solutions include:
guestrev: revenue optimization for hotels and casinos
grouprev: revenue optimization for group business
revcaster: cost-effective hotel rate-shopping tools
revintel: revenue management business intelligence
RealPage will be transitioning Rainmaker LRO’s data science, product development, technology, operations, sales, marketing and customer support groups into its own operations, in order to ensure continuity of operations and a seamless transition for Rainmaker LRO’s client base when the transaction is finalized. RealPage has also indicated that the newly acquired Rainmaker LRO business will continue to operate out of Rainmaker’s headquarters facility in Alpharetta, Ga.
RealPage’s acquisition of Rainmaker LRO is expected to close during the second quarter of 2017.
The sale is said to be a win-win for Rainmaker's LRO and hospitality customers. Combining these companies presents exciting opportunities and the ideal platform for Rainmaker's multifamily team to execute in a much bigger way on a global scale. Moreover, this initiative will further strengthen Rainmaker's hospitality business on multiple levels. Its team has literally man-centuries of experience serving hospitality customers and now this expertise and corresponding thought leadership will be 100% focused on continuing the impressive growth of its hospitality and gaming business.
Farley and CEO Bruce Barfield established Rainmaker in 1998 as a two-person team in Alpharetta, GA. In the 19 years since, the company has grown and evolved to become a global corporation and technology-solution provider. The company has made enormous progress growing its traditional hospitality roster, recently adding marquee names such as Best Western and Two Roads Hospitality. Further evidence of this momentum will be on display next week, where a record number of hospitality company delegates will descend on Rancho Palos Verdes, Calif., for OPTIMIZE2017, the annual Rainmaker user conference. In just the last two years alone, hospitality company registered attendees have doubled in size.
The sale of the LRO business also will allow its large and diverse hospitality team to unleash its deep hospitality revenue expertise and set in motion the next stage of its growth and evolution to advance its vision in hospitality – a dynamic, vibrant industry in which it believes the best is yet to come. It will also allow the company to fully focus its efforts on perfecting its various hospitality and gaming profit optimization and revenue management solutions.
Rainmaker’s hospitality and gaming solutions include:
guestrev: revenue optimization for hotels and casinos
grouprev: revenue optimization for group business
revcaster: cost-effective hotel rate-shopping tools
revintel: revenue management business intelligence
RealPage will be transitioning Rainmaker LRO’s data science, product development, technology, operations, sales, marketing and customer support groups into its own operations, in order to ensure continuity of operations and a seamless transition for Rainmaker LRO’s client base when the transaction is finalized. RealPage has also indicated that the newly acquired Rainmaker LRO business will continue to operate out of Rainmaker’s headquarters facility in Alpharetta, Ga.
RealPage’s acquisition of Rainmaker LRO is expected to close during the second quarter of 2017.