Harrah's Patents Price Management Technology
New Method Includes Non-Gaming Revenue Sources
LAS VEGAS, NV, September 14, 2006. Harrah's Operating Company, Inc., a subsidiary of Harrah's Entertainment, Inc. (NYSE:HET) today announced that it has been awarded United States Patent No. 6,993,494 by the U.S. Patent & Trademark Office. The patent, the 18th in the Harrah's U.S. portfolio, is titled "Resource Price Management Incorporating Indirect Value."
This patent describes setting customized prices for hotel rooms and other resources using the value of the customer's purchases in any of a property's operations, including gaming, retail purchases and dining. This process allows Harrah's to more effectively use its hotel room inventory, helping maximize total revenue per hotel room, based on our guests' experiences.
"This patent is an example of Harrah's innovative use of technology to enhance the customer experience by leveraging our unique understanding of the customer's value across our enterprise, not just the casino floor," said David Norton, senior vice president, relationship marketing. "This method is a valuable addition to our revenue management system, which helps us realize greater returns on our new and existing hotel assets."
The patent will allow Harrah's to create new customer segments - including non-gaming oriented groups - and to offer those customers targeted packages of gaming, hospitality and other offerings that will appeal most to each unique customer group.
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