ZEPHYR ESCAPE
Shay Gokhale
Dear Shay,
Just a quick update for April. We're very excited to announce that our software transition is in its final stages and will be complete in just a matter of days!
Keep an eye on your inbox for an email invitation to sign up for Guesty, our new Property Management Software platform. This will be your go-to place to view your property's calendar, create owner blocks, and more. We'll also be sending out detailed instructions shortly to guide you through the system.
On the booking front, we've observed a market-wide slowdown recently. Year over year, future bookings are down about 20%. We believe this is largely due to the broader economic uncertainty we're all seeing. However, we remain optimistic about Winter Park. Historically, even during economic downturns, people continue to travel and ski, often opting for more local destinations. This trend should work in Winter Park's favor due to its reputation as a drive to destination and its affordability.
We are also taking a proactive approach from a pricing perspective. We have significantly lowered our target rates across the board in order to match consumer’s price sensitivity during this period. We will continue to monitor the data and make adjustments on a weekly basis.
To further address current market conditions, we're adjusting our marketing strategy. We're strategically shifting some of our focus and marketing investments away from longer-distance markets like California and Florida and placing a stronger emphasis on our drive-in markets within Colorado and Texas. These states consistently represent the majority of our guests, and we believe this targeted approach will help us maintain strong occupancy.
We've also been using this slightly slower period to ensure our properties are in top-notch condition for our upcoming guests. Our teams have been hard at work conducting deep cleans, washing windows to sparkle in the mountain sunshine, and generally sprucing up each property. We want to ensure every guest has a fantastic and comfortable stay. As always, we appreciate your partnership and are committed to navigating these market dynamics effectively. We'll keep you informed of our progress.
Best regards, Paul
Paul C Burke
