Mid Point Observations in Outdoor Hospitality
As we roll thought the summer, we are seeing some interesting trends this year at our summer peak season parks.
Family friendly parks full of amenities seem to be doing better than anticipated. Early focus on staycations and the "All Inclusive," nature of a camping vacation has helped these parks do well despite gas prices. Sadly, the Yellowstone issues helped some of our parks in the west as travelers were diverted away from that park due to flooding.
Secondly, "Off Season," parks in places like Arizona are holding strong due to short term housing needs for traveling nurses, miners, and construction workers. Even in the AZ heat, our AZ parks are screaming.
Our parks that have put off important cap ex projects are having to attract guests in other ways, focusing on the local attractions rather than park attractions. This is always the case when a distressed asset is waiting for funds or permits. By focusing on the positives, and getting guests excited about the future, we can trend in the right direction.
Finally, many of our parks in the NE and West will continue to experience strong fall seasons. The allure of fishing seasons, fall colors, Oktoberfests, and Halloween events gave us exceptional 2022 fall occupancy, and we expect this trend to continue.
All in all, even parks that had a slow start are trending to meet or exceed budget by the close of the year. This does not just happen. It takes a dedicated team of professionals keeping their eye on the prize and turning the wheels to get it accomplished. This is AOS!