Editor’s Note: This blog posting was published by North Star Brokerage & Advisory and is published here with permission.
One of the most overlooked disciplines in outdoor hospitality is what I call drop-of-a-hat reporting.
That means that at any given moment — under any set of conditions — you should be able to pull up the most important numbers in your business and explain them clearly that same day, at the drop of a hat.
Not after calling your CPA.
Not after digging through old files.
Not after spending three days reconciling reports.
At the drop of a hat.
Why does that matter?
Because the day you decide to sell your park, raise capital, bring on a partner, or simply make better operating decisions, your numbers become your credibility.
If you don’t know your numbers, you can’t improve your numbers. And if you can’t produce them quickly, buyers and lenders immediately start wondering what else you don’t know.
The owners who consistently build the most valuable parks don’t just operate well. They know their business well enough to report on it instantly.
Below are the key performance indicators and financial reports every park owner should know cold.
The KPI Reporting Every Park Owner Needs
- Occupancy Rate (Physical vs. Economic)
This is one of the most misunderstood metrics in the business. Physical occupancy tells you how many sites are occupied. Economic occupancy tells you how many sites are actually producing revenue. A park can look full and still underperform financially. Knowing both numbers matters.
