Unequivocally, they told us no, they would not go back to managing revenue manually.  They cited overlapping benefits, with some interesting individual perspectives.

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Job Title: Pricing & Revenue Director
Location: Washington, DC or Denver, CO
Company: Archstone

Summary

Responsible for all business and technical processes related to maximizing revenue from Archstone communities such as pricing, resident screening criteria and other areas that affect demand management.

Essential Duties and Responsibilities include the following:

• Identifies and resolves pricing and revenue management issues.
• Responds to ad hoc requests for assistance from community managers, operations managers, VPs and executive level managers.
• Provides expertise on Lease Rent Options (LRO) forecast and pricing model.
• Acts as change agent to drive new ideas/policies throughout the Company.
• Conducts training sessions, formal and informal, to increase the Company’s use and competence with essential pricing and demand management software (e.g. LRO software, SafeRent, etc.).
• Suggests and implements proof of concept solutions for innovative business intelligence/decision support reporting; provides enhancements to essential pricing and demand management software and any other processes to improve revenue performance.
• Monitors key performance indicators and suggests corrective actions to Operations. Conducts quarterly reviews with Operations management.
• Coordinates activities with IT to move from proof-of-concept to “productized” solutions.
• Functions as subject matter expert on SafeRent and other demand-related processes and software.
• Handles other pricing and demand management-related tasks as assigned by GVP, Pricing and Revenue Management

Qualifications

• Bachelor’s degree (B.A.) from four-year college or university; and five years experience in pricing and revenue management or related field and/or training; or equivalent combination of education and experience.
• Extensive knowledge of key revenue management principles.
• Working knowledge with both business processes and IT/software processes.
• Intermediate MS Word, Excel and Access skills.
• Intermediate LRO skills preferred.
• Basic knowledge of Oracle, SQL or similar software.

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Washington, DC job posting

Denver, CO job posting

Steve Small, Executive Vice President, AMLI Residential

Does revenue management work?  Steve Small of AMLI says yes.  At the 2008 AIM Conference, AMLI Executive Vice President Steve Small presented a case study of the impact of revenue management on  AMLI’s NOI growth performance relative to its REIT peers.  (Data was taken prior to the company’s purchase by Morgan Stanley.)

• According to a Wachovia Securities study performed annually, in 2000 AMLI ranked ninth among its peers in revenue growth.  After implementing revenue management and other optimization techniques it ranked first in the REIT peer group from 2003 until the company went private in 2006.

• At the same conference, Small presented a 2006-2007 analysis of AMLI’s NOI growth by market relative to the NCREIF index.   AMLI outperformed the NCREIF index in every one of its markets by 30 to 105 basis points of NOI growth during the period of the second quarter of 2006 through the first quarter of 2007.  AMLI’s markets were:  Atlanta, Austin, Chicago, Dallas, Denver, Florida, Houston, Kansas, New Jersey, Seattle and Southern California.

The complete slide presentation may be found online on the AIM Conference site.

It was given at AIM 2008, Apartment Internet Marketing Conference in Scottsdale, Arizona.