Casino resorts often have a loyal following of repeat guests and therefore use Open Pricing to maximize revenue and elevate guest satisfaction. This involves adapting prices based on demand and occupancy levels, to optimize revenue during peak periods and maintain occupancy during low-demand times.
Personalized pricing and loyalty programs are key to a casino revenue strategy, which often offers loyal guests customized discounts, promotions, and complimentary rooms. This not only enhances guest satisfaction but also promotes repeat business.
Powering these dynamic pricing strategies is the Duetto Dynamic Rate Engine (DRE), allowing casino resorts to set and modify prices for direct bookings by considering historical data and guest preferences.
Within the GameChanger Casino umbrella, Find My Rate provides dynamic loyalty rates directly to guests online or through various channels like casino hosts, front desk agents, or the call center. Additionally, it enables casinos to upsell guests to higher-priced room categories, including suites.
Duetto’s reporting system tracks specific key performance indicators (KPIs) tailored for casinos, such as cash average daily rate, total gaming value from overnight guests, and total non-gaming revenue.
The successful implementation of Open Pricing in casino resorts not only optimizes revenue but also fosters loyalty and delivers personalized guest experiences.
Alongside this, the Duetto Managed Services team can help casino resorts make well-informed pricing decisions and guide their overall revenue strategy.
Read on to discover how two long-term casino resort customers have been using Duetto to good effect.
Choctaw Casinos & Resorts
The Choctaw Nation of Oklahoma has been working with Duetto to revenue-optimize its casino resorts since 2015. The Choctaw Casinos & Resorts portfolio currently totals nearly 2,000 rooms and includes Choctaw Casino & Resort Durant, Choctaw Casino & Resort Pocola, and Choctaw Casino & Resort Durant Grant.
Each property attracts a predominantly local or regional market, with tourists typically driving up to two hours to visit.
Since introducing Duetto in 2015, Choctaw Casinos & Resorts has seen continued increases in business coming through the Duetto segments, using the loyalty rates through Find My Rate.
According to Wong, up to 75% of all business comes to the resorts through this channel.
Personalized pricing through Find My Rate gives the power back to the guest because it is their decision when they stay and what is affordable. The casino may have rates at $700 on a high-demand weekend, and even with a $200 loyalty discount, this is still too high for some guests. They will look and book at a time that is priced more within their budget. The guest gets the stay they want, and the casino resort gets the highest value guests that they can achieve on any given night.
Flexing the rates enables Wong and his team to find the best conversion point for each guest.
“The nice thing about it is that the guest has choices. They get discounts based on their true value. And sometimes that discount might be higher on a weekend because guests typically play more when it's busier in the casino. So, if they come on the weekend and they are a lower value player they still get a discount that is comparable to where their value is,” said Edmund Wong, Corporate Director of Revenue Management, Choctaw Casinos & Resorts.
“You bring them on property and their spend comes along with them.”
Chumash Casino Resort
Chumash Casino Resort, situated in wine country just outside Santa Barbara, offers a four-star hotel boasting 320 rooms and 58 suites. In 2016, it went through a major expansion growing from 102 rooms, with the addition of a 135-foot tower that gives guests incredible views of the Santa Ynez Valley in California.
As part of its expansion, the casino resort also onboarded Duetto to better maximize revenue and take advantage of personalized pricing to boost total-resort profitability with dynamic pricing and marketing.
The aim was to grow its business with overnight guests from Los Angeles and Southern California, who tend to have a higher theoretical win.
The leadership team of the resort, which is owned by the Santa Ynez Band of Chumash Indians, needed to balance its Revenue Strategy to grow profitability over the long term, while still building repeat business and guest loyalty through appealing offers and promotions.
“The way that we look at success and profitability and revenue is for the long term. It’s a customer-centric strategy that focuses on loyalty and repeat visitation, not on just getting a couple of bucks from our guest,” said Alex Goodnature, Director of Strategic Planning, Chumash Casino Resort.
The resort uses Find My Rate to deliver personalized room offers. By making more data-driven decisions on which players to reward, Chumash Casino Resort is better able to fill its rooms with the right guests who have the highest theoretical-win value.
“We don’t have to tell anybody ‘No’ anymore. We’re able to see it all in one program with an infinite number of dates and rates. It’s been a lot easier for the call center and it’s great to be able to yield the DM portion of things as well. A lot of those rooms we would not have got cash for, and now we’re getting lots of incremental spend,” said Christin Medina, Director of Revenue Management, Chumash Casino Resort.
Discover how Open Pricing is driving revenue at hotels running on Duetto. Check out the many case studies in our latest eBook, How Hotels Use Open Pricing to Optimize Revenue. Download now.