Pricing and Revenue Management for Self Storage
Revenue Management may be the most poorly understood aspect of running a self-storage business. Yet, how it is carried out has a significant impact on revenue and profit levels. When self-storage operators have a better understanding of best practices in pricing and revenue management—and incorporate these understandings into their business processes and business practices—improvements to the bottom-line are typical and often surprisingly large.
Dr. Warren Lieberman, President of Veritec Solutions, will talk about what revenue management is, and what it is not. Warren began his career in revenue management in the 1980’s with American Airlines. Since that time, he has likely helped companies in more industries obtain revenue and profit improvements from dynamic pricing and revenue management than anyone else in the world.
Beyond highlighting how revenue management has fundamentally changed industries such as airlines and hotels, he will illustrate how revenue management is currently transforming the way the self-storage industry operates. He will also discuss the barriers of adopting revenue management, the related technology advancements, and solutions to overcoming those barriers, for small, mid-size, and even larger self-storage operators.
Most importantly, he will discuss what revenue management can mean for you. Warren will discuss strategies and tactics that you can adopt today, signals you can watch out for, and what you can do right away to help your top-line. Revenue management is a solution as much as it is a discipline, so he will also discuss what your revenue management journey may look like into the future.
Details
Date: 23 Feb 2023 (Thu)
Time: 11:00 - 12:30 (HK time, GMT+8)
Format: Webinar
Language: English
For any queries, contact Heily Lai (heilylai@selfstorageasia.org).
Dr Warren Lieberman
Dr. Warren Lieberman
President
Veritec Solutions
Dr. Warren Lieberman began his career in yield management at American Airlines in 1984. He is recognized internationally as perhaps the world’s leading expert in nontraditional implementations of revenue management. Warren pioneered the application of revenue management techniques in the cruise, broadcasting, timesharing and equipment leasing industries. In addition, he participated in the initial applications of revenue management in the passenger rail, tour operator, and rental car industries. He is a highly respected revenue management professional and is a sought-after speaker.
Prior to Veritec, Warren led the Travel and Hospitality Industries Consulting Practice for Talus (resulting from the merger of Decision Focus and Aeronomics). He received a BS in mathematics, with a specialization in computer science from the State University of New York at Binghamton and a Ph.D. in operations research from Yale University. Warren has served as Chairman of the Yield Management Study Group of the Airline Group of the International Federation of Operations Research Societies (AGIFORS), and is serving on the Board of Directors of the Institute for Operations Research and the Management Sciences (INFORMS) as Vice President, Information Technology. He has published a number of articles on scientific topics, including pricing and revenue management.