There is no one-size fits all approach in the serviced apartment and co-living world. With different locations and regulations, various stay lengths and multiple guest types, boutique brands with distinct traits and large corporates with uniform rates, all operators have unique needs and should come up with custom strategies to match.
At res:harmonics, that’s exactly what we do. With our bespoke consultancy services, we help you personalise and enhance out-of-the box technology to fit your specific business goals. Here’s how.
First up, it’s the big one: maximising revenue. The key here is to target the right clients in the right way at the right time. Take the current circumstances, for example. Instead of targeting middle-aged international business travellers, operators should be focusing on guest-types that are still on the move, such as domestic contractors, professionals with specialist workplaces and our invaluable key workers.
What’s more, operators should consider the location of their units when targeting guests. Near a military base? Think about catering for armed services’ families on a two-year stay. A stone’s throw from a campus or research facility? Aim for postgrad students or research fellows.
From apartment lay-out and amenities to branding and pricing, we’ll give you tips to entice guests best suited to your units and attract new guest segments.
Talking about branding, operators need to make themselves stand out by curating a brand image that embodies their purpose and highlights their unique selling points. For example, are you green and sustainable or safe and secure? Fresh and exciting or uniform and reliable? Serviced apartment and co-living companies that understand and promote their idiosyncrasies will create the strongest brands and bring in the most revenue.
Diving into your online presence, messaging and tone, res:harmonics will shine a light on what makes you, you, and help you leverage that identity for positive results.
Direct selling and direct bookings
Direct booking is a win-win: not only does it boost your brand’s online presence - websites filled with contact details and keywords are a one-way ticket to the top of the Google tree - but also enable you to cut costs, build direct customer relationships and increase bookings.
What can res:harmonics do? Well, unlike Amazon, we don’t just deliver a direct booking engine, we stay and build it with you. Whether customising a booking engine to seamlessly fit your website or developing one from scratch, we produce personalised engines - think incredible apartment photos, varying stay lengths and promotional rates - which operators have full control over.
Why just offer accomodation when you have a whole building at your disposal? The Space-as-a-Service (SPaaS) revolution is well and truly underway and operators should be thinking about how best to monetise all their assets. Do you have space for a café or office on the ground floor? Can you offer yoga classes on the roof or gym in the basement?
At res:harmonics, we have multi-functionality and multi-revenue-streams at the forefront of our minds when looking at operators’ space and can help innovative living companies make the most of what they already have.
Flex that suits
From cancellation policies to extending stays, operators should embrace flexibility in the Covid age, but how should they go about it? Marrying our consultancy and tech arms, res:harmonics can analyse your portfolio and help you diversify your stock in a way that suits you. Whether that’s preparing you for medium-stay through advice on pricing and fittings or for long-stay with tips on channel management and connections with real estate providers.
My apologies, but aren’t you impressed I got this far without making a Halloween reference?
Book in a consultation
Drawing on two decades of experience in the serviced apartments and co-living space, both as an operator and software provider, we can help you prepare your business for future success.
From guidance on implementing best practice protocols across your business to direction on the use of resources to streamline operations, res:harmonics provides impactful tailor-made advice in-person or via Zoom. We can even build bespoke software for your needs and adapt as you grow. For example, a recent consultancy client has strengthened their revenue stream through diversifying their portfolio among various stay lengths,while another is using custom-made tech capabilities that we designed post-consultation.