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    8 Replies Latest reply on May 13, 2010 6:50 AM by jdyrogrs

    Slow econony, will families skip vacations?

    Mountainbrain Newbie

      I am considering the purchase of a cabin rental business in the mountains of North Georgia. The property is in foreclosure and can be purchased and financed at a reasonable price and interest rate. I have done my due dilligence work and know that with 60% occupancy rate, I can show a decent profit. However, 60% occupancy translates into 219 days per year per cabin. The cabins are located approximately 2 hours from several major metro areas with realitively easy access. The property is also close to a large lake, waterfalls, a popular state park, the Applachian trail, and many other mountain-related attractions. The cabins are structurally sound but in need some repair and maintenance. There are 28 other cabin rental companies in the three county area and some are doing very well, and some are not. It is my observation that the ones that are doing well are better run, better advertised, a little nicer in terms of the cabins themselves, and have a lot of repeat business. The ones that are not doing so well, look "tired" and don't show very well, at least when I looked them over.

      So, if anyone is so inclined, I be interesed to know if you think families and individuals will be attracted to vacation options closer to home since the economy is still slow? Or, will people just skip taking vacations? Please advise and thank you!
      Mountainbrain