Beautifully put and deserving of its own quote.greenbarn wrote: When we start out in this business I think most of us assume there's a tried and trusted formula for success; it might be simple, it might be complex, but it's out there.
If we're lucky enough to know of LMH when we start out, we can ask other successful owners what that formula is.
Then we discover that there is no tried and trusted formula.......
There's a different formula for every geographical market, different again for the likely activities within that area, different for different age groups, income levels, expectations, on site, off site........
Then the realisation dawns after some trial and inevitable (but not devastating) error - there is a formula after all!
It's unique to your own business.
It hasn't been tried, it's not to be trusted.
Some of the key ingredients of the formula may become unavailable, or too expensive.
So we keep trying different permutations to see what works for us.
The formula is fluid, but the underlying root is solid - know your market; if possible, find a niche.
And watch how it all changes around you.
And keep learning and adapting.
And laugh.
Most of what I would have said, has been said. Go for two nights upwards to start with, but price them so that there's profit to be made still. Charge a bit more and offer a late checkout. If the market's there, then hold out for three nights, then you might find a week is popular. Who knows! My market is short breaks, so I know what works for me. It dossn't mean I'm 100% full, as I don't undercharge, but I make the right amount of money for the breaks I sell and the bottom line end of years figures work.
