As more new properties are built, increasing the value of existing multifamily assets becomes more important. Investing in or even upgrading older properties can significantly impact resident retention rates, as well as help attract new tenants. Ranging from easy to difficult, here are seven ways to add value to communities in your portfolio.
There are nearly 5 Million Vending Machines in the United States
When you think of even the biggest chain stores (Walmart, Home Depot, Starbucks), the amount of their locations added up together don't even come close to the number of vending machines across the United States.
In hospitality, success is closely tied to procurement. All the equipment, supplies, and services bought and used have a direct impact on the guest experience. The beds you purchase need to be comfortable. The computers and digital tools used need to be reliable. Food and beverage vendors need to provide quality service. All of these elements affect the opinions your guests have about your hotel, and it mostly falls on hotel procurement teams to deliver. That means having the right solutions available. Here are some of the top software, services, and procurement companies your team can use to better manage its purchasing process.
As with every industry, there's always something changing in vending or news stories worth sharing. New products, technology, and strategies are always being tried and tested. Here are five noteworthy stories from the vending industry.
As more new multifamily properties enter the market, older communities are often renovated to remain competitive. Upgrades to aesthetics, the addition of new amenities, and even structural changes are typically part of the process to help assets stay current. But property owners need to be cautious and strategic in their approach as extensive rehab projects can result in units renters simply don't want or can't afford.
So much depends on a hotel pre-opening plan that owners and operators can't afford to ignore it. It directly impacts not only the grand opening, but the future operational success of the hotel as well. For hotel management groups juggling multiple projects at once, it becomes critical to have a pre-opening plan to avoid disaster.
The trusty office vending machine. It's always there for you in times of need, like during those dismal afternoon hours when you find yourself falling asleep at your desk. But there comes a time when, despite the machine being full, the options no longer appeal to you. That's a sure sign it's time to replace your vending machine selections with some new products. Here are four options to mix up your product selections.
Managing hotel operations is sort of like juggling knives while walking on a tightrope blind folded. Just when you get a handle on one thing, two more get tossed in the air. One misstep and everything spirals out of control quickly.
A great way for companies to increase revenue is through offering ancillary services. Not only do they add to your bottom line, but they help bring additional value to your core product or service. However, to be successful you must ask yourself two questions:
- Why should you offer them?
- How will they be managed?
The answers will keep your ancillary services focused on adding real value to both your customers and your organization. Knowing "why" will help you decide which services to provide. Planning for ongoing management will keep your internal operations organized to maximize the value of the service and increase revenue.
As with every industry, there's always something changing in vending or news stories worth sharing. New products, technology, and strategies are always being tried and tested. Here are five noteworthy stories from the vending industry.