How Real Estate Investors Can Benefit from the Return of Tourism
309 words (1 min read)
The return of the tourism industry is showing great benefits for the Lakeside Lodge owners who participate in the onsite rental management program. Lakeside Lodge is a condo-hotel, meaning it operates as a hotel but most of the units are privately owned and rented through the hotel management company.
When owners are not using their condo, or if they have it 100% in the rental program, all the available units go into the rental program for hotel guests to book either online or by calling Lakeside Lodge. When an owner’s unit (or partial unit) is rented, they receive 60% of the room revenue. The other 40% goes to the management company to cover the costs of housekeeping services, concierge services, toiletries, advertising and booking fees for online travel agencies. That means that the more people who book rooms at Lakeside Lodge, the more revenue owners make. And the best part is that owners do not have to do anything other than collect their checks at the end of each month.
While this past year has been challenging, the continued decline in COVID-19 cases in the state along with the gradual lifting of restrictions has led to more and more people returning to travel and getting back a sense of normalcy.
During January through May at Lakeside Lodge:
- Monthly occupancy has grown from 24% to 47%
- The average daily rate has increased from $85 (January) to $138 (May)
- Monthly revenue has increased from $119,000 to $376,000
We look forward to the summer lake season and especially to the full return of football at the end of summer.
For anyone looking to invest in hassle-free lakefront real estate, Lakeside Lodge is the place for you and the time is now. To find out more about ownership and the rental program at Lakeside Lodge, contact our sales department at email@example.com.