The "increase in cancellations" myth
Monday, June 27
While 2022 is not quite as robust as the unicorn year that was 2021, it is still shaping up to be a very good year. There is speculation swirling that lots of reservations are getting cancelled this year with inflation, an impending recession, etc. We are finding this not to be true. In fact, ...
Smokies STRs: The State of the Union mid 2022
Tuesday, June 21
We are halfway through 2022. I am getting a fair number of texts and calls asking where things stand overall in the Smokies, so this is a good time to give a report. Occupancy overall is down about 20 percent year over year. That number is deceiving though: Our premier properties are not do...
"My Smokies cabin isn't doing as well this year!"
Monday, June 13
I have received phone calls from several folks in the last couple of weeks that are in panic mode because 2022 numbers are not matching 2021's. I have a few thoughts on this: 1. 2021 was a unicorn year. Undersupply, pent-up demand, and cheap gas. That led to remarkable, and simultaneously uns...
"I think I'll wait until prices come down to buy"
Sunday, May 29
I have been hearing this a lot lately. Housing prices are high, so it isn't a good time to by a STR. That is faulty thinking, and I'll tell you why. 1. You are only looking for one good deal. You are not investing in the entirety of real estate, as if it is a mutual fund. There are good deal...
Update from my neck of the woods in the Smokies
Thursday, May 12
May is soft. Down about 25 percent over last May. June and July look comparable to 2021. In 2020 and 2021, virtually every class of asset, except for office space, rose significantly in value. Stocks, houses, collectible cars, Rolex watches, farm land, etc. Yes, vacation homes were in that b...
But I thought Gatlinburg was recession proof?
Saturday, April 30
There is no such thing as recession proof, and vacation destinations are often the first, and most impacted, by a recession.Let's look why things have been so hot in places like Gatlinburg, for vacationers and investors:1. Low unemployment. Everyone has a job and can afford some sort of vacatio...