Updated about 3 years ago on . Most recent reply
Amenity ROI Pricing
Hello all!
Im out of the Michigan area and have been doing flips/ BRRRRs the last 3 years and Im finally getting my first STR going. I have seen many people talk about a hot tub is $50, but how are people estimating these increases? Is it just a best guess or based on some other data set? I get this can be done if that amenity is available at another location and they show a history of a higher ADR, but if the data is not there is there a rule of thumb to test the waters with?
If you have them post them below!
Most Popular Reply
#3 All Forums Contributor
- Investor
- Greer, SC
I think this is a best guess.
They got a hot tub, raised the prices $50/night and hopefully increased their occupancy rate.
Its very subjective to a property and location.
You would really need to look at your competition that has a hot tub vs those that don't and compare their prices and occupancy.
Unfortunately, there isn't a one size fits all for this.