1. Basic Economics: Keep basic economics in mind. Supply and demand should play a key role in how you set your pricing for next season. If you look back at your occupancy for the past year and find periods of time where you sold out and had a waiting list you, need to raise the price for those periods. Anytime demand is higher than supply, you need to raise the price. Likewise, when you have a lot of open space, lower the price. This will help fill those midweek low occupancy periods.
2. Perishable product: Like bananas at the grocery store, you are selling a perishable product. In other words, you will never have an opportunity to sell the site that went empty last night. As the arrival date of a particular period gets closer, consider lowering the price to fill up the last spots. Ideally, you will sell the last site in the park without getting more requests for that site.
3. Consider demand based pricing: As your occupancy level fluctuates up and down, demand based pricing can be used to provide a discount or to provide a bump in pricing. By using dynamic pricing, parks may see as much as a 25% increase in revenue on an annual basis.
Give us a call and let us show you how Sunrise can provide advanced pricing options to help increase your revenue.
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