Over the last eight weeks, Larry visited 25 properties across 11 different markets, speaking directly with our managers, sales teams, and techs. These conversations with our dedicated and hardworking associates have revealed a critical issue that needs immediate attention: we own too many properties, and it’s time to take decisive action to address this challenge.
Focusing on solutions, Larry laid out a clear, three-pronged strategy to right-size our portfolio and strengthen our operations. By restricting acquisitions, strategically selling select properties, and enhancing management practices, we aim to position ourselves for long-term success. To hear all of the actions we’ll be taking over the next year, watch the Associate Broadcast.
“It is our responsibility as leaders to own the problems and challenges we face,” said partner and CEO Bob Lloyd after watching the broadcast. “We’re stepping up and focusing on the solutions that will drive us forward. The actions we’re taking now are about setting us up for long-term success.”
As noted in the broadcast, we are strong as a company, and we don’t have to sell—but this is about positioning our people for greater success and providing the support needed to thrive.
“Our focus remains on our people. This isn’t about cutting back—it’s about our commitment to every associate,” Bob added. “We’re laser-focused on making sure each team at our properties has the resources, training, and environment they need to succeed and grow with us.”
Larry noted in the broadcast that sometimes we need to take one step back to take three steps forward. Partner and senior Vice President of Operations Brad Dykes said this exemplifies our Change Simplify Improve initiative.
“With any major problem comes a great opportunity. We will seize this opportunity by setting ourselves up for the future with the right talent at every level! We will simultaneously retool key areas of our business to make processes and systems simple and repeatable.”