Pines Family Fun

Summary of Acquisition

This property had a management company that started operating this home in April of last year and did $18,236.75 in topline revenue for the year. The owner was dissatisfied with the low revenue and the lack of support that his management company was giving him. They would not give him any advice on how to increase the property's bookings other than lowering the price. When he came to me, my team and I put together a competitive analysis with a list of suggestions and budget for improving his property’s standing amongst the competition. We installed a Power Wheels racetrack in the back yard along with a disc golf course.

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On the front deck we added a fire pit, heat lamps and additional seating. Inside the home we added a few amenities that made the home more convenient for families and brought in a professional photographer to showcase the family friendly mountain cabin we put together. Total cost of improvements, including labor, was $9500. We came in under budget by $300 while doing some additional items beyond the original budget while we were on site. We made these improvements in December and took over managing and marketing the property beginning January 1^st of this year.

We have achieved $6,150.92 YTD (Feb 23, 2023)in top line revenue, representing 34% of the total revenue last year. Further, we’ve achieved this revenue during a historically slow time. Last April he did$423 and $698 in May. His best month was $4,657.61, he had no other month over $3,000. Until my team started operating the property.

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Total doors under management: 17 as of Feb 23,2023

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