"Celebrity" or "TV Famous" STR's?

Question

Hey all ! Happy almost Friday! So, we had a local listing pop-up and it is a house from a relatively famous TV Show. Curious if anyone out there owns or has ever owned a house that could be marketed in such specific way? If so, good or bad luck with it? Realizing the numbers have to perform by themselves of course.

Account Closed · Answer

Reese Witherspoon's "Love in Fairhope" used one of ours to shoot an episode and a large church denomination rented one to shoot VBS curriculum.  It helped some in marketing, and we did get bookings from it but no major long-term boost.

Andrew Steffens · Answer

I've seen stories on this topic before - I think it can basically be used a marketing gimmick.  I would not pay more than market for it and would not boost revenue estimates, but be happy if in reality it got one.  I think it would depend on what the show was and who the actors were.  People still have to be personally looking and/or interested in going to that location, and mostly people searching for accommodations in that area may or may not be fans, and even if they are fans may not be interested in paying a premium.  If you do end up acquiring it I would see if there is a fan club somewhere and let them about it lol.

Ryan Moyer · Answer

Though for what it's worth, I wouldn't necessarily just look at the list price and assume you can get it for that in your underwriting.  The Byars house ended up selling for about double the list price when it went on the market.

Ryan Moyer · Answer

I assume this is about the Wheeler house from Stranger Things that went on the market a few weeks ago.

If you want a comp, somone already STR-ified the Byars house from Stranger Things.

It's booked out solid at really high rates from Nov - Jan with the final season of Stranger Things airing.  If you can close on the Wheeler one and get it all themed out in the next month or so (a tall task) you can probably do ~$90k revenue in 3 months.

Byars house rates are pretty low after that so if you miss out on that, probably not worth it.

Collin Hays · Answer

I had a cabin that Dolly Parton's brother finished out the loft on. It burned to the ground. So much for that marketing opportunity.

Andrew Street · Answer

Those types of properties can definitely draw extra attention and help with marketing, but they can also attract more “lookers” than actual paying guests. As long as the numbers work on their own, the TV show angle is more of a bonus than a guarantee.

Michael Baum · Answer

The thing about this sort of thing is, how popular was/is the show?

Stranger Things is a cool show but it will be forgotten soon enough. The Home Alone house? Well that is a seminal Christmas movie so that would do better longer...

Drew Nashmy · Answer

Its not but that would be an awesome find :)

Drew Nashmy · Answer

That is unfortunate. I am sure you trend it into a positive though.

Drew Nashmy · Answer

The numbers would definitely have to work as a standalone. Hadn't thought about the "lookers" aspect. Thanks!

"Celebrity" or "TV Famous" STR's?

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