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Updated 10 months ago, 02/28/2024
What Do You Use to Estimate ROI on a Specific Amenity?
I come from a data science background, so I'm accustomed to creating models to derive the incremental ROI of each variable.
I hear some people saying "get the $10,000 hot tub", and I get that, especially if it's a "table stake" that your property needs just to be considered by guests.
However, when thinking about less standard amenities, like putting greens, gaming rooms, billiard tables, pool toys, etc. what tools or methods do y'all use to evaluate if a given idea will deliver a positive ROI?
I have a method that I'm formulating, but it is very data intensive (requiring web-scraping and statistical models), but a "good enough" solution could save me a lot of time.