Your Blueprint for Increasing Branded Residential NOI
You're Leaving Money on the Table
Your branded residences are missing out on capturing significant revenue and loyalty opportunities simply because parity has not been reached between how hotel guests and branded residence owners or renters are engaged with.
The Modern Resident Market is Growing: The branded residence market has grown 150% in the last decade, and is expected to double it's growth over the next decade. Why? Because there are now over 38 million people who fall into the emerging affluent luxury market.
The Ancillary Revenue Goldmine: According to Preferred Hotels Luxury Traveler Report, 55% of luxury travellers book exclusive experiences while traveling. Based on internal customer data from Alliants and 1Living, branded residences that utilise hotel guest experience technology to engage with owners and renters can increase monetisation by 33% or higher.
Engagement is Everything: Half of luxury travellers crave the ability to receive more tailored offers via curation tools like digital itineraries curated by staff. Even more, 95% of those travellers won't hesitate to increase their budget if the experience matches their unique tastes. According to Alliants and 1Livng customer data, using the right engagement technology across the branded residence expeirence can create 23% higher engagement with owners.
How to Increase Your NOI
What are industry leaders doing to take advantage?
Ditching Legacy Tech
Legacy residence technologies, like basic HOA portals or generic engagement such as newsletters weren’t built for the service-rich expectations of modern residence owners or renters. Even more, property management tools are clunky for owners and don't provide the insights they need to get the most out of their residence investment. Most legacy tools were built from a real-estate mindset and not a hospitality mindset. Leading brands are ditching this tech and replacing it with content and context rich tools that allow them to treat owners and renters just like hotel guests.
Creating New Revenues
Innovative brands are acting on new strategies for both investment and operations that focus on helping their residential owners and renters "live like a hotel guest." They make managing a residence for an owner as easy as ordering in-room dining from their phone. They created the avenues for a renter to book an in-home spa treatment as easily as they could book an Uber. This is why highly profitable residences are doubling down on investing in hotel guest experience technology to bring that tailored journey to the living room and beyond.
Using Unified Tech Platforms
Leading brands that have already adopted this new mindset of bringing parity between the hotel and branded residence "guest" experience are reaping higher net operating income. How? They are investing in platforms of technology that are built to underpin and elevate both owner and renter experiences rather than investing in single point solutions and retrofitting them together. By doing so, they lower operational costs while creating new revenue avenues because their engagement, management, and revenue tools are unified.
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Heading Needed Here
"1Living and Alliants have united to bring hotel-level technology to branded residences, ensuring owners and renters enjoy simplified, elevated service that matches the best in luxury guest hospitality."
