Revenue management at Extra Space Storage LLC

Lijian Chen and Samrat Sondhi

International Journal of Revenue Management, 2009, vol. 3, issue 2, 179-196

Abstract: Extra space storage, LLC is the second largest self-storage operator. The constantly changing customer behaviours and market trends demand adaptive dynamic pricing and discounting management (DPDM). We develop the adaptive DPDM mechanism to improve the store revenue growth. The goal is to dynamically adjust our DPDM policy by the store performance. Such an approach is innovative because the model lets us adaptively consider pricing activities. Our policy has been proven to be effective that the company leads in same-store revenue growth over competitors while maintains high occupancy. Our policy would be extended into other industries with similar operations.

Keywords: self-storage; revenue management; dynamic pricing; discounting management; store performance. (search for similar items in EconPapers)
Date: 2009
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