Emily Dreyfuss, Pricing Revenue Manager, Windsor Communities, affiliated with The General Investment & Development Companies of Boston Massachusetts.
Where they innovated:
The high rise apartment community, Windsor at Turtle Creek in Dallas and apartment community The District in Denver.
What they innovated:
First, we realized we were missing opportunities in both over- and under-amenitizing. Then, we reviewed our unit type consolidation to see which units could share a common base price. Our revenue managers then reconfigured our amenity pricing set up to incorporate descriptors like fireplaces, granite counter tops and beautiful views, which tailored our offerings to individual customer preferences.
Who helped:
Regional VPs, division managers, property managers, pricing and revenue manager, the professional team at The Rainmaker Group, Inc. with Rainmaker’s revolution LROTM Revenue Optimization.
Can you innovate too?
Yes! In three simple steps: (1.) Give your sales force visibility into the rationale of each unit’s price via meaningful amenity descriptors and pricing reports. (2.) Maximize your online presence with key features and corresponding prices (3.) Develop a strategy for regularly measuring the effectiveness of specific amenity prices.
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