Finding the hidden opportunities in property management

Ultimately, real estate management is about serving people. That's why, after a career spent entirely in the hospitality sector, Cynthia Romack, Head of Revenue for JLL Experience Management (XM), is leading operations focused on driving revenue and adding value across over 125 XM managed accounts throughout the U.S. and Canada.

"We're at a crucial point in real estate right now, with many buildings experiencing significant economic challenges," Cynthia notes. "Real estate has gone from the dollars and cents of signing a lease, getting into your space and going to work to everything being experiential. Experience ties in 100% to hospitality."

She began her career right out of college with major hotel chains, where she operated properties and served as a sales trainer. Later, she became one of the founding members of a hotel management platform that brought together some of the industry's most prestigious brands.

"It sounds like a cliché, but I truly love people, I truly love selling, bringing the dream to life, driving positive experiences and being an ambassador for my brand," she says. "I've always worked with great brands and been proud of who I worked for."

It was during this part of her career that she met Mark Zettl, now President, Property Management, Americas, when he led the forming of a hotel management platform. He has been a colleague, friend and mentor for nearly17 years. As management companies merged and her career grew, Mark let her know of the opportunity with JLL, and her experience lent itself well to the mission of XM.

"JLL Experience Management innovates and sets industry standards through strategic placemaking, cutting-edge technology, revenue optimization, and community building. We empower talent, reward curiosity and leverage real estate expertise to deliver an exceptional property experience and add value for our clients," she explains.

JLL's strategic investment in Experience Management demonstrates the company's forward-thinking approach to evolving real estate needs. By creating Romack's specialized revenue role, JLL has shown its commitment to helping property owners maximize value in a changing market landscape.

"JLL recognized the need to bring in expertise specifically focused on monetizing amenity spaces," Romack explains. "This dedicated approach to driving revenue for our owners reflects our understanding that the traditional office model is transforming, and creative solutions are essential for building success."

At XM, her role is to drive revenue and value to assets, overseeing sales, operations and marketing. Her focus is monetizing underutilized spaces at office buildings, which can now bring in a new class of customers.

Her goal is to find progressive-thinking landlords who want to monetize their empty spaces in innovative ways. "We're looking at how to open up meeting and conference facility space to external public use," she explains. "Unique venues such as lobbies of historical buildings have become the go-to places for special social events."

XM also focuses on driving the public to the buildings' retail and restaurants. "We're working to create a complete ecosystem where every element of the property supports the others. When we bring people in for events, they patronize the restaurants. When we create unique experiences in lobbies, it drives traffic to retail. Everything works together to maximize value for owners."

Certain amenities once intended simply for tenant use can be opened up to the neighborhood. Wellness is a particular focus. Fitness centers can be opened to the general public on the weekends and evenings outside of tenant use. Some buildings even have pickleball or basketball courts that can generate additional revenue by offering outside memberships.

"I want landlords and owners to understand that revenue doesn't only have to come from traditional leasing models alone," she emphasizes. "It can come from many other areas of your building that you might not have considered before."

"We view ourselves as true partners with our owners," she explains. "We approach them saying, 'We understand the economic challenges you're facing. Let's work together to find innovative ways to monetize your underutilized spaces.' The properties that embrace this collaborative approach are positioning themselves for long-term success."

While other buildings and companies are trying their own solutions, JLL has a major advantage — the ability to bring in in-house expertise and proprietary technologies to create and implement cohesive programs.

"Our One JLL approach enables me to seamlessly integrate multiple service lines—from property management to specialty licensing to technology—creating unique value for clients," Romack explains. "The comprehensive nature of JLL's platform allows us to transform spaces in innovative ways: hosting weddings, special events, or farmers' markets that attract diverse clientele while generating additional revenue streams for property owners. We can enhance properties with retail elements like restaurants and shops, then leverage our data analytics capabilities to validate these strategies with hard numbers. What sets JLL apart is this unmatched ability to deliver comprehensive solutions at scale."

Internally, she says, the company brings a dedication to its employees that reflects its commitment to customer service. "I really believe in JLL, it’s the best company I've ever worked for," she says. "They have a huge commitment to growing careers and developing their people, giving tools and resources for every person to be successful."

Outside the office, Romack cherishes her family life. She's happily married and an enthusiastic soccer mom to ten-year-old twins, while also supporting her 19-year-old daughter who serves in the Army. Her faith is central to her life, and she's an active and devoted member of her church community.

"Everything comes down to, and what I love about hospitality, is that you have to have a heart for people and for serving others. I can teach people sales and operations," she says. "But you have to have a heart for hospitality, wanting to be with people, give them a great experience and doing whatever you can for your guests."