Making residents stick, creating submarkets of one and the ability to avoid getting too far out over your skis. Since posting the first MFR.com Interview last summer, we’ve collectively gained a lot of insight into how revenue management is changing the multifamily industry.
Also posted in Featured, Q&A With Executives, User Experiences | Tagged "rental rates", apartment technology, Colonial, davidoff, electronic renewals, multifamily revenue management, pushing rents, reit, revenue management, revenue management in downturn, revenue management system, Rich Hughes, UDR |
As one of the largest and most tech-savvy operators in the multifamily business, it’s no surprise that Highlands Ranch, Colo.-based UDR is a big proponent of revenue management. The REIT turned heads in apartment world last year when it announced impressive results from its online lease renewal platform, which offered existing residents time-sensitive incentives to [...]
In the gaming industry, revenue management pros have been linking their pricing strategies with internal marketing and customer retention initiatives for years. Look no further than Harrah’s exec Ruben Sigala’s detailing, at last spring’s AIM Conference, of the casino giant’s “Buffet-of-Buffets” initiative, where guests can choose to pay $40 more per night for their rooms [...]
Here's further evidence that multifamily companies using revenue management technology are pushing rents more aggressively than the market as a whole, and that those tools give them a better bead on what lies ahead than even the most comprehensive macro-economic analysis. Following Colonial Properties Trust's impressive rent push during 2Q 2010, Equity Residential [...]
