What are the Right Rates for my Park?February 14, 2018
Setting park rental rates is one of THE most important decisions to be made for you and your camping resort. Even our most seasoned owners struggle with how to set their rates, and how to address yielding with both staff and guests.
Your rates need to reflect numerous criteria, with just a few being:
- Cost of your investment and reasonable rate of return
- Market Conditions -such as: Supply and Demand
- Priced so they are reasonable enough to attract and retain guests
- Take seasonality of campground into consideration
- Your competitive set
- Quality of your park and amenities as compared to your comp set
These are just a few of the data points analyzed by our AOS accounting team and rate managers. We research all of this and more to get you into the “Sweet Spot,” for your park. We keep a vigilant eye on the market and what is happening around you. This helps our team set and yield rates for maximum revenue generation.
Most park owners/investors we know do not have the time, nor the expertise, to tackle this most important function. Leaving it to professionals creates a winning environment for both guests and owners.
This information, and much more, will be part of our presentation at the FARVC Convention this year. Make plans to join us in Daytona in May.