500% at Otis is BS, Otis financial controls wouldn't allow that to continue. I agree with jkh though, the market dictates prices. Buildings choose to roll their contracts into groups/national style agreements to reduce maintenance cost down to the lowest price a the industry can bear and expect top notch service. Elevator companies need to make up the margins in low bid maintenance with the extra billable items that come up.

Agree with me or not, the industry in the US is headed for a major shift. Contract prices have been driven down into the dirt over the last 20 years, at some point elevator companies will not be able to continue the level of service and innovations customers demand. Majors and independents both feel the pinch. I have noticed more customers lately are sharing their current pricing and demanding lower for resigns to which fewer and fewer companies show up to bid the maintenance. This is a sign the market is ripe for a correction, it just takes a while with 1-5 year contracts.