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.


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 – 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.


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!


Introducing ResiComps.Com

Introducing – 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.


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.


(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.


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.


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.


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.


Introducing Jobs

Over the past 12 years, OpenComps has developed a solid reputation as the place to keep you abreast of what’s going on in the hospitality investment and finance world – who is buying, who is selling, who is building. The site has an active and engaged community comprised of the industry’s top professionals.

And while we are continuing to focus on bringing you the latest and most comprehensive information that can help you buy, sell or develop a property, we thought we should also look to help you find the people that can help you in that endeavor and add value to your team.

We are excited to announce a whole new section of the site – Jobs. In Jobs, you can find job postings dedicated specifically to jobs in the hospitality finance and investment sector. While property-level finance positions are better suited for general hospitality job sites, we felt there is a need for a highly specialized place to find hospitality finance and investment talent.

Below are several screenshots to introduce you to the new section and to get you started with a new job posting. We really want you to give the new section a try, so we have made the first posting completely FREE. Try it today!

Once you activate your job posting, it will become publicly visible online to all OpenComps users. In addition, your job posting will be featured in our daily and weekly email newsletters (currently only in the U.S. editions).

Users interested in your job opportunity can easily submit a job application online. We ask that they answer succinctly three questions – how are they qualified, how much they know about your company and what is their near-term growth plan. Together with their resume, we hope that would give you a good first look into the candidates. You will receive any job applications via email, so make sure you can receive our emails in your Inbox.

To protect the privacy of the job applicants, we will not retain any of data from their application, but we will record their submission. You can monitor these submissions in the Job Activity section and if an email application is missing in your Inbox for whatever reason, you can approach the user on OpenComps.

We hope you will like this new section and decide to give it a try today. We aimed for ease and simplicity in designing the functionality and tools in the section, however, we very much welcome your feedback, including on our pricing structure.