Amenities That Pay
One of the questions resort developers ask us the most is, “What kind of amenities do I need at my location?” The answer is, “It depends.”
This week we were thrilled to join a seminar where we were able to answer that very question. You may think it is an easy question to answer, but there is much more to it than just deciding what YOU think you may want or need.
When looking at adding amenities to your park, the first thing you should consider is ROI, or Return on Investment. What is ROI, here is the official definition,
Here is the example we used in our presentation and how to take a very simple look at ROI.
Questions to ask:
What is the cost?
How will occupancy, rate, and overall revenue increase with this amenity?
Other things to consider:
What specially trained staff will I need to add this amenity?
Are there any special code issues when it comes to adding the desired amenity?
A pool will require special equipment, may require lifeguards, and there may be code issues to consider such as, “Where can I legally backwash my pool?”
All in all, adding amenities are a good way to increase rate and occupancy, but knowing the ROI will lead you to making the right investments at your resort.