Can you explain the ProMatura business model and how you differentiate from competitors?
Promatura is run differently to every other ‘research & consultancy’ company in the property sector. We are unique, having spent the last 35 years creating and honing our working practices and data sets - not just in our country of origin, the USA, but also Europe. We identify and talk to specific customers who may well become your next clients. Within Portugal we recently completed a major research study of several Northern European buyer markets for a Portuguese land owner. We used proprietary tools to do this. We undertake conjoint analysis that gives a very accurate set of detailed results informing every aspect of what is wanted and will be paid-for on a project.
With your extensive experience can you help break down the various senior living segments and explain where future opportunities lie within the Algarve?
Delegates at the 2019 Algarve Tourism Conference will be well aware of the substantial opportunity presented by the ‘baby boomers’ generation which is retiring, and enjoying 10 years more life than 50 years ago. This group are wealthier now than any cohort before them and they are a demanding, relatively sophisticated generation with a pan-European property perspective. Countries in the warmer, more pleasant Mediterranean sunbelt have seen many northern Europeans move to live part or full time, particularly in the Algarve. The Algarve is frequently cited as one of the top spots to retire in Europe, not least due to its lower living costs. The key opportunity for the Algarve is now to take this to scale with significant and important steps in resort development along the ‘retirement village’ model.
There are major opportunities right across the senior living segment which can be broken down into several areas. This includes 'active adult', 'independent living', 'assisted living', 'memory care' and 'nursing care'. It is important for businesses within the Algarve region to clearly understand which segment they are either in or want to be in. The ProMatura delegation on this year's senior living panel will be addressing key discussion points in order to harness the full potential this market, offering guidance and insights from around the world, where we have helped deliver projects in multiple countries. We will discuss how much age/lifestage appropriate property stock the Algarve already has (or could be adapted) for the proven needs of an aging population across Europe. We will also explore how land owners, developers, financiers or operators go about determining or proving a robust business model to enter the senior living sector with a new project.
How can businesses and delegates attending the Algarve Tourism Conference, including the likes of land owners, developers, financiers, hospitality and care organisations, benefit from Promatura's expertise?
Each and every company has a road-map to success and ProMatura helps them build the right product at the right price. In the last two years Promatura established an international office in London working with clients in the UK, Portugal and many other destinations outside the USA. Our Predictive Analytics can look at (or hypothetically model) any project anywhere in the world and predict what will work, where and why – expensive mistakes are thus avoided. Markets do differ, but our processes work anywhere, backed by the most extensive empirical data available. ProMatura buyer research groups demonstrate high levels of continuing engagement: giving potential to test creative marketing concepts before launch, also to become among the first residents to buy-into a project.
ProMatura uniquely plugs the gap in buyer understanding and likely actions: what do actual potential residents specifically want and what will they really pay for it? We remove the guesswork, provide concept ‘insurance’ and have saved our clients many millions $£€ in mistakes over 35 years: our data, analysis and forecasts proven to closely correlate with actual buyer behaviour. Every site is unique and we help unlock the value in it with the right, proven, product mix, cost reductions and advise on prices which has seen successful price uplifts of upto 20%. We provide the project finance team a sophisticated demand/unit/prices spreadsheet accurately forecasting sales by month for the development which is a great aide in ensuring the project is appropriately financed.