Mac-Gray Corporation Announces 'Digital Laundry is Here™' for Multi-Housing
Revolutionary Change Point® System Connects Washers and Dryers to the
Internet, Provides Unprecedented Financial and Service Transparency, and Sets
New Standard of Convenience for Residents
WALTHAM, Mass., Jan. 26, 2011
WALTHAM, Mass., Jan. 26, 2011 /PRNewswire/ -- Mac-Gray Corporation (NYSE:
TUC), the industry leader in multi-housing laundry facilities management
innovation, today introduced its Change Point® payment and monitoring system.
Designed specifically for use in central laundry rooms, the Change Point®
system is a significant advancement over the coin-only and laundry-card
payment systems that currently operate in multi-housing laundry rooms across
the United States.
Change Point® connects washers and dryers to the Internet, giving residents
the ability to pay for each wash or dry cycle with a debit card, credit card,
or coin, eliminating the chore of finding the correct number of quarters or
the need to keep track of or replenish a laundry card. Change Point® also
utilizes Mac-Gray's proprietary LaundryView® monitoring system, which has been
redesigned to provide new features for the multi-housing market, with robust
service and revenue tracking capabilities for the property owners. It also
allows residents to check the availability of washers and dryers before going
to the laundry room, and to get a text message after their laundry is done. To
learn more about Change Point®, please go to www.macgray.com .
The combination of Change Point® with the enhanced LaundryView® (version 3.0)
allows Mac-Gray to now monitor every aspect of laundry equipment operation,
from live reporting of when a cycle is purchased, to enabling the remote
detection of malfunctions and automatic dispatch of a technician. Reports that
account for each transaction – and include a comprehensive service history –
are updated daily and made available to the owner or manager of the property
through Mac-Gray's client extranet.
"The introduction of Change Point® represents another important innovation by
Mac-Gray and the next generation of service in our industry," said Stewart G.
MacDonald, Mac-Gray's chief executive officer. "Change Point® brings an
unprecedented level of transparency to the management of laundry facilities.
This is good for the clients we serve, good for their residents, and good for
our company. Property managers no longer have to wonder how much revenue is
passing through their laundry rooms; residents no longer need to hoard
quarters or store money on a laundry card; and Mac-Gray is able to provide a
truly differentiated and revolutionary product. We expect Change Point® will
eventually yield higher utilization and higher operating efficiency, all while
driving superior transparency and service."
Mac-Gray offers two configurations of the Change Point® system. One enables
residents to pay at a wall-mounted "laundry center" that communicates with the
machines using patent-pending technology. The other configuration allows users
to pay directly at the machine, using either a debit or credit card, or coin.
It was developed in conjunction with Heartland Payment Systems®, combining
Mac-Gray's patented LaundryView® monitoring technology with Heartland's card
readers and micro-payment processing capabilities. LaundryView® 3.0 now
provides the owner or manager with an accounting of all transactions, coin or
card, made at each machine. All credit and debit card transactions with both
Change Point® configurations are processed through Heartland Payment Systems®.
"The two primary objectives in developing the Change Point® system were to
provide our clients with total transparency to their laundry room operation
and to give ultimate convenience to their residents. Change Point® achieves
both objectives with features and benefits that are unique in the industry,"
said Bob Tuttle, Executive Vice President, Technology & Information Systems.
"Having introduced LaundryView® several years ago for the academic market, we
then started developing Change Point® with the aim of bringing that
technology, and our experience, to the larger multi-family laundry facilities
"The response to Change Point® has been enthusiastic," said Sheffield Halsey,
Executive Vice President, Marketing. "With more than 80% of consumers owning a
debit card, the feedback we have received is that Change Point® has made it
much easier to pay for laundry. As a result, we are seeing revenue increases
at some properties where we have installed Change Point® and eliminated the
coin-only barrier to usage. But what people really love about Change Point® is
the convenience they get from its LaundryView® component: seeing machine
availability and getting a text message when their laundry is done. One
property manager told us that his residents responded so well to Change Point®
that he wants us to install it across the entire portfolio."
The Change Point® system has undergone comprehensive testing in laundry
facilities managed by Mac-Gray. Locations have included apartment properties
operated by premiere multi-housing companies such as Archstone, Camden
Property Trust, and Equity Residential; as well as testing in laundry
facilities in condominiums, off-campus student housing, travel centers,
extended stay hotels and resort hotels.
One of the installations was at the Nickelodeon Suites Resort in Orlando,
FL.Bruce Holdsworth, Director of Engineering, commented, "Prior to partnering
with Mac-Gray, we were self-operating and laundry was a distraction for us.
Mac-Gray has helped us improve the program with Change Point® and our guests
have reported that using a debit card is much easier than quarters. And Change
Point® gives us the flexibility to increase the vend price in smaller
increments in the effort to create more revenue without a drastic increase in
costs for our guests."
Another installation was at Camden Lakeside in Brandon, FL, where the
Purchasing Manager, Rick Pippin, reported a very enthusiastic response by his
sales team to Change Point®. One of the leasing consultants at Camden Lakeside
said, "It makes me more confident as a leasing consultant to promote our
laundry facilities despite not having washer and dryer connections in the
"An important element of the testing was evaluating consumer acceptance of the
system. This included user survey work as well as panel research to understand
the impact of the system on people's laundering behavior. Universally, people
found that Change Point® made the laundry task easier through both its debit /
credit card payment feature and the time-saving benefits of LaundryView®,"
About Mac-Gray Corporation
Founded in 1927, Mac-Gray derives its revenue principally through the
contracting of debit-card- and coin-operated laundry facilities in multi-unit
housing facilities such as apartment buildings, college and university
residence halls, condominiums and public housing complexes. Mac-Gray manages
approximately 88,000 laundry rooms located in 43 states and the District of
Columbia. Mac-Gray also sells and services commercial laundry equipment to
retail laundromats and other customers through its product sales division. To
learn more about Mac-Gray, visit the Company's website at www.macgray.com .
Safe Harbor Statement
This news release contains certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, including statements
regarding the Company's expectations for higher utilization and higher
operating efficiency. The Company intends such forward-looking statements to
be covered by the Safe Harbor provisions for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995, and is
including this statement for purposes of complying with these Safe Harbor
provisions. Forward-looking statements, which are based on certain assumptions
and describe future plans, strategies and expectations of the Company, may be
identified by use of the words "believe," "expect," "intend," "anticipate,"
"project," or similar expressions. Investors should not rely on
forward-looking statements because they are subject to a variety of risks,
uncertainties and other factors that could cause actual results to differ
materially from such forward-looking statements. Certain factors which could
cause actual results to differ materially from the forward-looking statements
include, but are not limited to, general economic conditions, changes in
multi-housing vacancy rates, the Company's ability to renew long-term customer
contracts, and those risks set forth in the Company's Annual Report on Form
10-K for the year ended December 31, 2009 under "Risk Factors" and in other
reports subsequently filed with the Securities and Exchange Commission.
Executive Vice President
Sharon Merrill Associates, Inc.
SOURCE Mac-Gray Corporation
Contact: Jim Buckley, Executive Vice President, Sharon Merrill Associates,
Inc., +1-617-542-5300, email@example.com; Erin Vadala, Vice President,
Warner Communications., +1-978-526-1960, firstname.lastname@example.org
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