Old School Thinking In A New World
I recently toured a beautiful park in the heartland.
It was full of cabins, RV sites, and situated in a stunning location.
The owner was telling me he is sold out every weekend for 2022. This tells me a few things:
- The prices are too low
- The weekdays are empty
Of course, most owners would be thrilled to be sold out on weekends a year ahead of time.
But in our way of thinking, this has cost the owner tens of thousands of dollars.
What would we have done differently? Here are a few things
a. This far in advance, have a MLOS of at least 7 nights of the high demand units
b. As demand ratchets up, increase pricing
c. As you enter your peak booking window, lower MLOS if needed but yield rate
d. List all roofed accomdations on OTA's at max pricing with MLOS requirements
e. Take 100% of booking fee at time of booking and have a strict (60 day) cancellation policy
By following these guidelines, the owners would have realized a tremendous bump in revenue AND weekday occupancy like never seen before.
High demand parks with great amenities need not be ghost towns on weekends.
Targeted marketing and MLOS requirements will bring those who want a longer stay at a premium price.
Before 2022 fills up at your parks, consider some of these tips to get your revenue kicked into high gear.