Category: General

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General

2023 Wrap and 2024 PRO Subscription Prices

With another year end in sight, we would like to sincerely thank all the people that supported us through a PRO subscription in 2023.

This year started busy for us with a full booth sponsorship of the ALIS conference in January, followed by participations at the CLIC 2023 in March, Meet the Money 2023 in May and the NYU Lodging Conference in early June. While that should have set us up for a good 2023, the unfavorable winds of higher interest rates that brought large-scale deal making to a standstill, affected us, just like everyone else. That is why we are especially grateful to everyone that supported us, is continuing to support us… and spends 2 extra minutes to spread a good word about OpenComps. Thank you! Thank you!

Our work on making OpenComps better in 2023 went on regardless of the economic conditions. While we scuttled our expansion plans to dip our toes in the multifamily world via ResiComps.com, we didn’t let go of any personnel and instead refocused them on bolstering OpenComps. And while we are always improving OpenComps technologically – and, more importantly, always looking to improve the data quantity and quality – the best new tech in 2023 was the introduction of private notes. Private notes allow you to attach small notes to any transaction entry and are viewable only by you or your corporate workgroup. We hope you find them a good tool to significantly enhance the usefulness of our research-generated public entries, layering private information that is shared across your corporate workgroup. Paired with our private entries tool, which allow you to record entire transaction entries that remain private to your workgroup, you can build on top of OpenComps a truly one of a kind private market intelligence that’s available to you and your organization only. Let us know if you have any feedback!

With this short 2023 overview, based on our current costs and development plans, we would like to announce that our PRO Subscriptions prices as of January 1, 2024 will be as follows:

  • OpenComps PRO (fka enterprise) – $525 per month or $5,250 per year.
    • unlimited users (under defined corporate email domain), no per user pricing
    • easy, self-managed onboarding and offboarding
    • private notes – attach small notes to public transactions viewable only by your or your workgroup
    • private entries – create full transaction entries viewable only by you or your workgroup (great for keeping track of on-the-market pipeline or recording private P&Ls of competitive properties)
  • (Now Legacy) Individual PRO – $195 per month or $1,950 per year (remains single user, non-shareable)

Note: Each OpenComps user account is personal and non-shareable. Using someone else’s login is a violation of our Terms of Use. Thank you for your understanding and cooperation.

If you are a PRO subscriber, you will be automatically rolled over to the new plan and rate applicable to your PRO subscription at your first scheduled billing period in 2023 (monthly subscribers, at your first renewal in January 2024; annual subscribers, at your renewal in 2024). 

If you are not a PRO subscriber yet, hurry up and start a new annual PRO subscription by the end of 2023 to take advantage of the 2023 prices for a full year.

PRO subscribers can manage their subscription online, 24/7, at Settings > Subscription & Invoices.

Should you have any questions, please get in touch.

Thanks again for your support in 2023, happy holidays and see you in 2024.

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General

2022 Wrap and 2023 PRO Subscription Prices

As we roll into December, I would like to sincerely thank all of our PRO subscribers for supporting OpenComps in 2022. We took some bold steps in 2022, as we oriented us to serve exclusively our PRO subscribers, especially focusing on our Enterprise PRO customers.

This initiative was simply responding to where our customers were going. More and more organizations wanted to spread access to OpenComps across their enterprise, taking advantage of the simplicity of our enterprise offering – unlimited users, no per user pricing and self-managed onboarding and offboarding. And we very much like seeing OpenComps used across entire organizations – the more, the merrier! We have always designed OpenComps for extreme ease of use, aiming to make it as simple for the busy top deal executives yet powerful for the detail-focused analysts. We would like to send a special thank you to all the customers who moved to Enterprise PRO this year, both via the online credit card platform or via direct invoicing!

We also launched ResiComps.com – our multifamily platform. We are still spreading the word on that so if you have friends or colleauges in the multifamily investing space, we hope you pass on the word.

With this little 2022 update over, based on our current costs and development plans, we would like to announce that our PRO Subscriptions prices as of January 1, 2023 will be as follows::

  • Enterprise PRO (unlimited users) – $495 per month or $4,950 per year.
  • Individual PRO (single user, non-shareable) – $165 per month or $1,650 per year; (*Individual PRO is available only to very small organizations or single-person operations.)
  • Note: Each OpenComps user account is personal and non-shareable. Thank you for your understanding and cooperation.

If you are a PRO subscriber, you will be automatically rolled over to the new plan and rate applicable to your PRO subscription at your first scheduled billing period in 2023 (monthly subscribers, at your first renewal in January 2023; annual subscribers, at your renewal in 2023). 

If you are not a PRO subscriber yet, hurry up and start a new annual PRO subscription by the end of 2022 to take advantage of the 2022 prices for a full year.

PRO subscribers can manage their subscription online, 24/7, at Settings > Subscription & Invoices.

Should you have any questions, please get in touch.

Thanks again for your support in 2022, happy holidays and see you in 2023.

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General

OpenComps Turns More Exclusive and Enterprise

As we approach our 16th anniversary (coming in May 2022), we have began contemplating our 2022 (and beyond) plan. As any business, we are only as successful as our customers allow us to be. Without the commercial support of our paying subscribers, we would not have been able to continue our journey, gather all the data and continuously refine our software and service.

As the world’s leading hotel intelligence platform, we are extremely fortunate and grateful to garner the commercial support of some of U.S. largest:

  • public REIT owners;
  • management companies;
  • private equity sponsors;
  • brand operators

… and many other smaller owners, developers, managers, appraisers, analysts, and other players in the hotel finance world.

While we launched with the idea of an open collaboration among the players in the hotel finance world in collecting deal information, the reality is that individual user contributions have been extremely small and limited. In the meantime, we have grown as a service and team to source and categorize most of the information available on OpenComps (and ResiComps) and thus have basically transitioned to an enterprise intelligence service.

With that in mind, over the coming months, we will be transitioning to servicing more exclusively our paying PRO subscribers. Registration and (limited) daily newsletters may continue to be free (for now), but full use of our online service will be more and more exclusive only to our paying customers.

To better reflect our enterprise nature, we will also emphasize our Enterprise PRO subscription as the standard entry into our service. We have learned that our service is better when used and shared across the entire organization. Thus, our Individual PRO plan will transition to serve as an introduction into our service for very small or new organizations who would like to familiarize themselves with OpenComps before deploying across their full enterprise.

To our paying PRO subscribers, THANK YOU! To everyone else, we hope you decide to commercially support our efforts to uphold OpenComps as the best hotel investment intelligence platform IN THE WORLD!

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General

Introducing ResiComps.Com

Announcing ResiComps.com

Introducing ResiComps.com – OpenComps’ take on a one-stop multifamily investment intelligence source.

After refocusing OpenComps in 2016 on hotel information only, we are back covering the residential/multifamily space but on a separate platform.

We believe that with OpenComps we have created the ultimate research tool covering all hotel sales, developments, refinancings and even financials. Having refined the service – what and how we collect – we thought it’s time to do the same in the residential space: cover all multifamily sales, developments, and refinancings (we are looking into the financials).

We hope you check out ResiComps (multifamily data) and direct anyone else to the site that you think can benefit from this research tool. We look forward to your feedback.

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General

2022 PRO Subscriptions Prices

Thank you to all the PRO subscribers that support us! We remain dedicated to bringing you the best hotel investment information for your underwriting needs and your continued support is greatly appreciated.

Based on our current costs and development plans, our PRO Subscriptions prices as of January 1, 2022 will be as follows:

  • Individual PRO (single user, non-shareable) – $150 per month or $1,500 per year;
  • Enterprise PRO (unlimited users) – $450 per month or $4,500 per year.

If you are a subscriber, you will be automatically rolled over to the new plan and rate applicable to your PRO subscription at your first scheduled billing period in 2022 (monthly subscribers, at your first renewal in January; annual subscribers, at your renewal in 2022).

You can manage your subscription online, 24/7, at Settings > Subscription & Invoices.

Should you have any questions, please get in touch.

Thanks again for your support in 2021, happy holidays and see you in 2022.

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General

2020 PRO Subscriptions Prices

Thank you to all the subscribers that supported us in 2019 (and prior)! We never stop updating OpenComps – its data variety and quality as well as its underlying code – and your continued support is greatly appreciated. We are very grateful for all the feedback and encouragement we received in 2019 and are excited to continue to innovate in 2020.

Based on our current costs and development plans, our PRO Subscriptions prices as of January 1, 2020, will be as follows:

  • Individual PRO (single user, non-shareable) – $130 per month or $1,300 per year;
  • Enterprise PRO (unlimited users) – $390 per month or $3,900 per year.

If you are a subscriber, you will be automatically rolled over to the new plan and rate applicable to your PRO subscription at your first scheduled billing period in 2020.

As always, you can manage your subscription online at Settings > Subscription & Invoices.

Should you have any questions, please get in touch.

Thanks again for your support in 2019, happy holidays and see you in 2020.

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General

HOW TO: Brokers get your For Sale deals in OpenComps

OpenComps aims to create a record of the life cycle of a hotel property – when it was build, when it was offered for sale, when it traded, when it was refinanced, and even performance metrics under different owners, managers or flags.

In addition to recording your sold deals (comps) — demonstrating your hard work and success in handling a transaction — you can also record when you take a property to the market. Doing this can help you reach potential buyers and further establishes your transaction capabilities.

Getting your for-sale transactions in OpenComps is easy. Simply hit the +Add New button at the top of any transaction list to get started. Chose Public and For Sale as your group visibility and transaction type and enter the basic property information.

Continue reading “HOW TO: Brokers get your For Sale deals in OpenComps”
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Introducing Enterprise PRO Subscriptions

One of the great new OpenComps features from last year was the ability to create private entries within a workgroup. This moved OpenComps from just an online research service to a real (cloud) software. With this feature, you can take advantage of the incredible database technology that was developed to keep OpenComps’ public coverage of comps, new developments, for sale, debt comps and full P&L financials, to organize your own internal information of the same type. No more crashing-prone Excel files that store ADR & occupancy, or full P&L financials, or your own set of comps, or a list of the for sale offerings you receive from brokers. No more questions like “Where did we store that information?” and “Who saved over the correct Excel file and ruined all my changes?” Now, you can store such crucial competitive information safely, securely and conveniently in OpenComps and make it available to anyone in your workgroup, from anywhere (desktop or mobile).

To encourage the adoption of private entries and collaborations within a workgroup, we are abandoning the per user pricing for group accounts (and manual administration) and instead switching to a flat-rate Enterprise PRO plan, all self-administered online. The Enterprise PRO plans can handle unlimited number of members based on a specified enterprise email domain (e.g. @superprimehotels.com).

Continue reading “Introducing Enterprise PRO Subscriptions”
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General Updates

New! Financials… and Pricing

We are super excited to launch today our latest feature: the ability to record and save P&L financials. You can add financials as public or private entries – your eyes only or within your shared group. Let us walk you through the details.

Expanding on our coverage – like developments, debt comps and for sale markers – we feel that with financials, we have truly created the ultimate intelligence-gathering tool for the hospitality investment professional. How often have you collected competitive performance information and save it in an individual Excel file that afterwards only goes to die together with a completed or aborted project? And even though you feel you will forever remember that information and where it is stored (after working so hard to gather and organize it), somehow nobody ever remembers where that information was stored or saved. Now, you (or your workgroup) can save these financials in an easily searchable database with the ability to quickly find and retrieve the information.

Saving financials in OpenComps is super easy and works as follows:

  1. Create a Financials transaction marker for a property – you can create it from scratch using the +Add New button in any transaction list. Or you can jump start a new Financials marker from an existing transaction, just use the +Add New dropdown in any transaction. You can choose to create the marker as Public, Only Me or Shared Group, which would make the marker (and its associated financials) available and visible either publicly to all or privately to you only or within your workgroup.
  2. Add P&L financials to a Financials transaction marker – once you’ve created your Financials transaction marker, you can add P&L financials using the +Add button in the Financials section.

Continue reading “New! Financials… and Pricing”
Categories
General Updates

OpenComps 4.0 – Private Entries

On the heels of us turning 10, we are extremely happy to announce our latest update to OpenComps. We feel that it significantly enhances and changes the purpose of the site that we would like to call this OpenComps 4.01. The new feature is the ability to record private entries.

What are private entries? In addition to creating publicly-visible entries, you can now create entries that can be seen only by you (Only Me) or by your shared private group (My Group). And we really mean the only part! We have worked extra hard to make sure nobody (even admins) can get to your privately-recorded entries. Those entries are yours and yours alone.

While only you can see them, you don’t have to do anything different to search the database and see your entries together with the public entries. For example, look at this search for “paris” and how easily you can filter your search results to show everything, only Public entries, only Only Me entries or only My Group entries:

If you noticed, the private entries are highlighted in the search results if there is no filter selected. The rows for the Only Me and My Group entries are in an unique, highlighted color and they also begin with an icon showing either a single user view or group of users view. Let’s take a look inside the entries:

Also, we hope you noticed that there are three entries for the same property. One happens to be a Public Comp transaction, one is My Group Comp transaction and one is Only Me Comp transaction. For the same search you can now see what is available publicly right next to any available private entries for the same property. Of course, the private entries could be either for the same Comp transaction or another Comp transaction. Or it could be a For Sale tracker, Development or Debt Comp. Because they all have the same address (and geocode to the same location), you can see all entries in the Related tab, which maintains the same highlighted rows format.

From any transaction entry for a given property – Public, Only Me or My Group – you can start another entry for the same property that can be either Public, Only Me or My Group by selecting the appropriate option in the +Add New dropdown. This is the quickest way to overlay a private entry on top of a public entry, or create a different entry type (Comp, For Sale, Development or Debt Comp) to a property. Or you can start from scratch with the +Add New wizard from any transaction list.

If you have Export privileges, you can export private (Only Me and My Group) entries as much as you want. Unlike Public entries, private entries are yours and there are no limits to how often you want to download them in an Excel-friendly CSV format2.

The powerful Advanced Search is fully enabled for you to search either across all transactions or limit to what’s Public, Only Me or My Group. Also, the instant statistics in Insights are similarly recalculated based on your preference for which transactions you want to be included. Please, rest assured that you are not seeing aggregated numbers that are including someone else’s transactions or that your transactions may be included in someone else’s Insights screens. As mention already above, your entries stay private throughout the entire site and nobody can see them or have them included in their aggregate screens.

Recording of private (Only Me or My Group) entries is a feature available to PRO subscribers. In fact, the shared My Group is based on the shared billing group, which is currently set up only by an admin. However, if you happen to be a PRO subscriber and created private entries, these will still stay available to you3 in full detail to see or search across even if you happen to drop your PRO subscription at some point (we hope only temporarily!). You just won’t be able to add new private entries.

We are really excited about this new functionality in OpenComps and we hope you will decide to take full advantage of it and support us by becoming a PRO subscriber. If you need to set up a group subscription, please don’t hesitate to contact us.

We would love to hear from you with any comments or ideas about this new functionality. If you would like to discuss it in more detail via a private web-conference, just just get in touch.

  1. 1.0 – initial launch in 2006; 2.0 – site redesign and reactivation of development in 2012; 3.0 – social/newsfeed functionality in 2015 ↩
  2. In fact, even Public Your Additions transactions – transactions that you’ve contributed to the public body of transactions – are also excluded from the daily and rolling 30-day export limits ↩
  3. For My Group transactions, assuming you still belong in the shared group. ↩