Two of our Duetto Revenue Drivers provide their top tips for boosting total profitability for casino resorts. From dynamic pricing and reinvestment to creatively yielding other revenue centers, all help boost revenue and profit.
Yielding other revenue centers
"Looking at total profitability, casino resorts can also use Duetto to yield other revenue centers. Here are two real-life examples.
"At Ocean Casino Resort in Atlantic City, we are yielding their cabanas at the pool in real time. These are stunning day rooms that provide guests with their own private oasis, complete with dedicated service. Guests can lounge in the sun poolside or retreat to their furnished sanctuary for lunch.
"In Kentucky, we are yielding RV spaces at the Oak Grove racing and gaming resort. We price based on the size of the RV space (30 AMP and 35 AMP) and again can yield in real-time."
Nevin Reed, Vice President, Casino Services
Dynamic Pricing
"One of the most efficient ways casinos can maximize total profitability is by dynamically pricing their casino guests in real-time, based on demand, using Duetto’s Find My Rate powered by DRE (Dynamic Rate Engine). With Duetto's Open Pricing and dynamic reinvestment of casino players based on total worth, the hotel can be more strategic as to which players can book a comp room or a discounted cash rate during high-demand versus low-demand periods, without the risk of over-investing and eroding the bottom line.
"On days when the hotel is pacing very well and demand is high, the property can decrease the reinvestment on the lower-value players and avoid giving too big of a discount, while at the same time optimizing the remaining number of rooms available for high-value customers. On the other hand, if a day is not pacing to sell out, the property can be more generous with the reinvestment percentage across all tiers and even offer additional incentives as part of that reinvestment in the form of food & beverage credits, show tickets, spa discounts, etc. This also allows properties to drive direct bookings from guests they know and that have a player card.
"Rather than giving a bigger discount through other channels and paying a commission on top of that, hotels can increase total profitability by incentivizing their known guests or encouraging new guests to sign up for a card. Ultimately, being able to capture customer spend across all areas of the casino, from gaming to F&B and shopping outlets, enables hotels to maximize profits at the property level, not just hotel room revenue."
Andreea Brescan, Director, Casino Services
Dynamic Rate Engine (DRE)
"Using the Dynamic Rate Engine (DRE), hotels can yield based on spend. DRE takes your worth as a customer (total spend, including ancillary and room spend) and surfaces a price based on that. This enables hotels to focus on the cash and what that person brings to their property besides what they are paying for the room."
Nevin Reed, Vice President, Casino Services
