Categories
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.

Categories
Updates

New Feature: Private Notes

Since 2016, OpenComps has offered users the ability to save private entries alongside the public entries that we generate via our on-going research. Our goal was to transform our service from just a research source to a productivity source for organizing your own internal market data and easily share that across your team.

The idea was simple: we will never see and hear of all the transactions in the marketplace in the fullest detail. When you record private – only me or workgroup – entries, you can augment our data or create a central repository for information that flows through your organization. From recording private Comps for sales we have missed; or private For Sale markers to track what you see being offered in the marketplace; or starting private Financials markers to record P&L information on competitive properties; or keep track of new Developments. These are all great uses of private entries.

But… sometimes you don’t want to record (and maintain) a whole new (private) entry because our public entry is good enough. However, it may be missing just a small bit of additional (private) information. This is why, we are introducing private notes.

With private notes, you can quickly add an ‘only me’ or ‘workgroup’ short private note that is visible only to your designated group. They stay on top of the transaction screen and help you gain – and share across your team – additional insight that we might have missed.

You can add private notes on public transaction entries or even private (although with private entries, you should simply edit the entry, right?).

Starting a private note is easy: simply use the +Private Note button in the action toolbar. You can edit your note after saving it or delete it altogether. (Workgroup private notes can only be edited by their creators, although anyone in the group can delete any note – private workgroup entries are after all yours to maintain and organize however your group sees fit.)

We would love to hear your thoughts on private notes and any other ideas for new features.

Categories
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.

Categories
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!

Categories
General

Introducing 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.

Categories
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.

Categories
Updates

(Re)introducing Newsfeed

From early on in OpenComps’ development we strived to create a way to display our site’s activity in some kind of a browse-able stream. Somewhere where you can easily see what was recently entered and what has changed as well as discuss it. We think we finally nailed it in what are calling the Newsfeed.

Categories
Updates

Instant PDF documents

While we have optimized our web style sheets for printing our screens, we felt that we can achieve a cleaner and more standardized view of certain pages – like the transaction view – with an instant PDF creator. For the times where you would like to print a transaction so you can present it to your team or share it with a colleague, look for the PDF button in the tool bar.

We are excited about this new PDF creation technology and are looking to implement it in several other places throughout the site. Do you have a preference for where a PDF could be helpful to you? Get in touch.

Categories
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.

Categories
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.