Case Study

One login, multiple properties: Steiner Residences' journey to optimized pricing with RoomPriceGenie

Ewa

RoomPriceGenie · 十二月 04, 2024

Steiner Residences, part of the Steiner Immobilien Group, specializes in renting serviced apartments in Vienna. Facing challenges with manual pricing, the team adopted RoomPriceGenie, enabling them to save time and boost efficiency while focusing on long-term growth strategies.

Why it matters: Steiner Residences needed a revenue management solution to navigate the complexities of market demand and optimize their pricing. RoomPriceGenie helps them to have more time for strategy and to manage various properties reliably.

Catering to guests seeking independent, self-catering accommodations, Steiner Residences faced increasing competition from platforms like Airbnb. Manually managing pricing across multiple properties had become unsustainable. RoomPriceGenie offered a tailored solution, combining automation and flexibility, to simplify pricing management and improve profitability.

Top 3 Core Objectives: More time for strategy and managing various properties reliably.

Simplify pricing processes: Manual adjustments consumed up to 30 hours per week. RoomPriceGenie simplified pricing workflows, reducing this time to 10 hours weekly.
Improve pricing accuracy: By automating dynamic pricing, Steiner Residences eliminated errors and ensured rates aligned with market demand and trends.
Support long-term strategy: The time saved enabled the team to focus on developing and implementing long-term growth strategies, increasing overall efficiency.

"We save a lot of time when implementing our long-term strategy. What used to take days to several weeks is now possible within a day."

Kiki Shahabi

Manager

👍 Manager Kiki Shahabi said that RoomPriceGenie helped them save valuable time.:

"We save a lot of time when implementing our long-term strategy. What used to take days to several weeks is now possible within a day."

⚖️ The selection process: During their research process, Kiki Shahabi evaluated RoomPriceGenie's product differentiators, customer support, and holistic value as a strategic partner and ultimately decided that RoomPriceGenie was the best fit solution:

Manager Kiki Shahabi said, about their decision: "We chose RoomPriceGenie for its flexibility in managing multi-property setups, accommodating our diverse portfolio of properties in varying sizes. One interface for all properties and one login. The transparent and flexible pricing model, including the option for monthly payments, allowed us to test the system over the medium term and confidently verify its effectiveness across our properties."

📈 The results: Steiner Residences significantly improved operational efficiency and saved valuable time.

Reduced time spent on pricing tasks from 30 hours to 10 hours per week.
Achieved streamlined pricing management for multiple properties with a single interface.
Improved focus on long-term strategy, completing tasks within a day that previously took weeks.