Guesty > Case Studies > L.A. Property Management Company MySuite Boosts Listings by 185% in One Year

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

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 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.

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

The use of Guesty has significantly improved MySuite's operational efficiency and effectiveness. The platform's features have allowed the company to streamline and centralize their operations, making it easier to manage their rapidly expanding portfolio. The ability to offer additional pricing options and more flexible cancellation policies has helped them adapt to changing traveler trends, particularly during the COVID-19 pandemic. The visibility provided by Guesty has also enabled them to make informed decisions on how to improve their operations. Furthermore, the use of the Multi-Unit and Channel Manager features has simplified the management of their properties and optimized occupancy. As a result, MySuite is well on its way to achieving its vision of being the number one furnished housing provider in greater Los Angeles.

Quantitative Benefit

Increased listings by 185% in one year, growing from 80 properties in 2020 to 228 in 2021.
Annual revenue increased by 10% as a direct result of using Guesty.
Occupancy rates never dip below 90%.