Company expects the transaction to close in December
ALPHARETTA, GA – Nov. 29, 2017 – The Rainmaker Group (Rainmaker), a leading provider of cloud-based hospitality revenue and profit optimization software, today announced that it has received antitrust clearance from the U.S. Department of Justice to transition 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 company anticipates the transaction closing will take place by the end of 2017.
On February 28, 2017, Rainmaker announced the sale of its multifamily housing assets to RealPage, Inc. Completion of the sale allows Rainmaker to further strengthen its position as the leading provider of revenue management solutions for the hospitality and gaming industry.
“We are pleased to have reached this milestone and wish our multifamily team the very best,” said Tammy Farley, president of The Rainmaker Group. “Our multifamily customers will benefit from RealPage’s strong software platform and data analytics in the multifamily market. Rainmaker will now focus exclusively on growth and innovation for its hospitality customers. The transition is an absolute win-win.”
Rainmaker’s revenue and profit optimization product suite includes:
- guestrev®, an intuitive and easy-to-use revenue management solution that analyzes total guest value across a hotel or casino property to forecast and price rooms;
- grouprev® an innovative group pricing solution that streamlines the process of responding to group RFPs by analyzing historical data, future demand, and price sensitivity to recommend the best pricing for group business;
- revcaster®, a powerful rate shopping tool that gives hoteliers access to real-time actionable market data, so that rates can be set against the competitive landscape; and
- revintel®, an intuitive business intelligence solution that improves day-to-day revenue management by mining various data sets and providing deep insights at a granular level.
“This transaction underscores Rainmaker’s longstanding commitment to its hospitality customers,” concluded Farley. “The sale will allow us to focus all of our energy and resources on developing the most powerful and flexible revenue and profit optimization solutions in the industry.”
