Prorize, a global leader in dynamic pricing solutions, today announced that it has successfully deployed its Pricing AI Platform™ for the self-storage industry in Europe, partnering with Pelican Self Storage, the leading owner and operator of self storage facilities in Denmark, Sweden and Finland.
Pelican first considered a more science-driven approach to their pricing strategy in 2017. At the time, hiring a US based firm didn’t seem an obvious choice, explained Rune Petersen, Chief Commercial Officer: “The territory where we operate is very different from the US. Not only that, there are also many differences between our three countries in terms of demographics, competitive factors and economic conditions. At the end, we decided to partner with Prorize because of their capabilities in demand forecasting, their knowledge in pricing science, and their specialization in self-storage; and in retrospect, we’re so glad we did.”
“In a relatively short period of time, Prorize has made a big difference to our bottom line,” added Rune Petersen at Pelican. “Their pricing software and consultants helped us increase occupancy significantly and revenue to levels we’ve never experienced across our three countries. Furthermore, the Prorize software solution and their consultants have made it possible for us to free up important pricing resources internally. I would definitely recommend Prorize to any European operator looking to create efficiency in their pricing decisions and maximize revenue.”
“We’re excited to expand our operations internationally,” said Ahmet Kuyumcu, Founder and CEO of Prorize. “Pelican has been a great partner, and in many ways our team has become an extension of their pricing team, making joint decisions about best pricing and promotion strategies. We look forward to further expanding our footprint to other markets across the world in 2019.”
Prorize’s award-winning solution for the self-storage industry consists of three interrelated modules for mature or stable stores, lease up stores, and rent increases for existing customers. Taken together, they look at current inventory, seasonality, transactional data, market trends as input for advanced forecasting models, which tell clients the optimum price for each unit.About Prorize
Prorize is a global leader in revenue management solutions. Winner of the world’s top prize for advanced analytics, the Franz Edelman Award, Prorize’s proprietary software and pricing consultants help clients capture maximum revenue from their assets. Prorize’s data driven approach focuses on providing value through mutually beneficial transactions and optimum price points allowing for sustainable and profitable growth of the enterprise.About Pelican Self Storage
Pelican Self Storage is a leading Nordic brand with 30 locations throughout Denmark, Sweden and Finland. Pelican Self Storage was founded in Denmark in 2009 by Nordic Real Estate Partners (NREP) with funding from M3 Capital Partners in London. Pelican’s goal is to create a chain of high quality, high service storage locations in the Nordic countries situated around the capital areas.Source: PRweb