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L.A. Property Management Company MySuite Boosts Listings by 185% in One Year
Technology Category
- Functional Applications - Inventory Management Systems
- Platform as a Service (PaaS) - Application Development Platforms
Applicable Industries
- Buildings
Applicable Functions
- Facility Management
- Warehouse & Inventory Management
Use Cases
- Inventory Management
- Picking, Sorting & Positioning
The Challenge
MySuite, a property management company in Los Angeles, faced several challenges in managing its growing portfolio of properties. Despite owning all of its properties, which gave them control over pricing, design, vacancy, and inventory, they were missing three crucial elements: channel management, reporting and analytics, and revenue optimization. They found it difficult to publish their listings via several accounts, a practice they used to differentiate their various offerings across different areas in L.A. They were also over-reliant on a single OTA's data to measure their performance, which often resulted in incomplete information due to glitches. Lastly, with their rapidly expanding portfolio, it became increasingly difficult to optimize their rate strategies and set pricing.
About The Customer
MySuite is a property management company based in Los Angeles that branched out of NMS Residential, a privately owned real estate management firm. MySuite specializes in the professional management of upscale multifamily and mixed-use properties throughout the Greater Los Angeles area. In 2019, the company inaugurated its new short-term rental offering, listing its first fully-furnished properties on Airbnb. MySuite owns all of its properties, which gives them complete control over pricing, design, vacancy, and inventory. Their diverse inventory includes vacation rentals, multi-unit, corporate housing, urban city rentals, and aparthotels.
The Solution
To address these challenges, MySuite turned to Guesty, a platform that allowed them to streamline and centralize their operations under a single unified system. This proved to be particularly beneficial when the COVID-19 pandemic hit, as the platform enabled them to pivot and meet emerging traveler trends. They used Guesty's Revenue Management feature to offer additional pricing options and more flexible cancellation policies across their entire inventory. Guesty also provided MySuite with the visibility they needed, giving a clear, ongoing picture of their performance and helping them make informed decisions on how to improve their operations. By using Guesty’s Multi-Unit and Channel Manager features, MySuite was able to group together similar listings to simplify management and optimize occupancy while simultaneously publishing and adjusting their hundreds of listings online.
Operational Impact
Quantitative Benefit
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