August 27, 2018 – Burlingame, CA – StorTrack, the leading provider of pricing and market intelligence for the self-storage industry, and Prorize, a global leader in dynamic pricing and revenue management, today announced a partnership to integrate StorTrack’s historical and real-time rate data with Self-Storage Rent Optimizer, a dynamic pricing solution by Prorize. The partnership brings crucial competitive data to Prorize’s already powerful pricing optimization software, to further maximize revenue for its users.
StorTrack has been collecting and tracking rate data in self-storage for over 5 years, and currently collects and tracks rates for over 30,000 self-storage facilities in the U.S., Canada, UK and Australia. StorTrack’s powerful software updates over 1 million price points on a daily basis, across all unit types. For users of Self-Storage Rent Optimizer the inclusion of this competitor pricing data means better optimized rates for all their units.
“Self-storage operators are becoming increasingly aware of the enormous benefits of data-driven price optimization and competitive intelligence,” states Jeff Brink, Vice President at StorTrack, “StorTrack is the most comprehensive dataset available in the market and users of Self-Storage Rent Optimizer now have access to that”.
“Competitive pricing may have an impact to your own customer demand, but this impact varies,” said Ahmet Kuyumcu, Founder and CEO of Prorize. “In some cases, ignoring competitive prices might be the right answer. In other cases, you should go half-way or match them. What this agreement with StorTrack does is to provide us with the data we need to accurately guide our clients to forecast demand and set optimum rents, always considering the impact of competitor prices.
Launched in 2014, StorTrack constitutes the largest and most comprehensive pricing intelligence database available for the self-storage industry. StorTrack also integrates demographics, ownership and other market data to provide tools and services that help operators, owners and investors make better decisions.
Prorize is a global leader in revenue management solutions. Winner of the world’s top prize for
advanced analytics, the 2017 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.