Absolute Storage Management Releases Year-End Review

Absolute Storage Management (Absolute) has announced its operating results for the three months and year ended Dec. 31, 2023.

2023 Highlights for Three Months Ended Dec. 31, 2023:

• Acquired four (4) management contracts: three (3) facilities after construction and one (1) management retention after ownership change.
• Launched premium insurance program.
• Completed the rollout of our internal sales center.

2023 Highlights Year Ended Dec. 31, 2023:

• Increased same-store revenue by 1.3% compared to the same period in 2022.
• Acquired 27 management contracts: 12 operating facilities, 14 facilities after construction, and one retention through ownership change.
• Launched redesigned facility website landing pages to improve website conversion rates.
• Improved average facility review rating to 4.9 stars, up from 4.4 stars.

Over the three months ending Dec. 31, 2023, Absolute added four total management contracts in the United States. These properties include All Season Storage in Mobile, Ala.; All Season Storage in Morristown, Tenn.; Oxford Self Storage in Oxford, Miss.; and Sunshine Storage in Plaquemine, La.. As of quarter end, Dec. 31, 2023, Absolute actively manages 142 properties in 18 states.

“2023 was an interesting year for the storage industry with decreased demand as a result of high-interest rates and their effect on home sales and overall moving,” says Absolute CEO Scott Beatty. “Our Absolute team did a great job adjusting to the challenges and keeping our focus on the next rental while upgrading some of our internal programs and processes. We are well positioned for a fantastic 2024!”