MOUNTAIN WELLNESS RETREAT
Douglas & Wynn Waggoner
Dear Douglas & Wynn,
As we move further into the year, I want to share some insights into our ongoing efforts to enhance the value and performance of your properties. Our commitment to you and your homes remains our foremost priority.
Our Strategies at Work
Before diving deeper into our specific initiatives, I'm thrilled to share some immediate positive results that underscore the effectiveness of our evolving strategies. The last week of May, for example, really stood out. We significantly outperformed our future bookings, capturing double our total market share. This success was further highlighted by an impressive Average Daily Rate (ADR) of $863, compared to the market average of $394 for that period. Furthermore, our average length of stay was 6 nights, a notable increase from the market's 3-night average. These figures are a strong early indicator that the strategic adjustments we're making, particularly in pricing and distribution, are resonating effectively and driving superior results.
One area of continuous focus is our dynamic pricing strategy. We've listened carefully to your feedback, which often highlights a desire for both strong occupancy and optimal nightly rates. To achieve this balance, we have expanded our pricing range, allowing us to capture a wider spectrum of booking opportunities, especially during times of low demand. The initial results, like those from May, are promising. For instance, in the last week alone, we secured a same-day check-in for a week-long stay at $400 per night as well as a booking for the same property for March 2026 for five days at $1,600 per night. This demonstrates the elasticity we're working to harness. My biggest takeaway from the past year is the potential for strategic aggressiveness in pricing for every given month, and I will continue to refine our approach to maximize your returns.
We also take immense pride in the meticulous care of your homes. It has been eye-opening, when onboarding new properties, to see the condition some homes are left in – from incorrect paint used for touch-ups to years of accumulated dust and untreated damage. Our comprehensive Maintenance and Cleaning programs are designed to ensure your homes are kept in the most pristine condition possible. This commitment serves several vital purposes:
We believe the Elysian brand will become synonymous with this level of quality, encouraging guests to preferentially choose our managed homes. As we achieve record-setting rates and position ourselves as THE Luxury Hospitality provider in Winter Park, we have a profound responsibility to deliver on that promise. When you arrive to enjoy your home, we want you to experience that immediate sense of warmth and relaxation, not a list of to-dos. Should you ever decide to sell, we aim for your home to command a higher price, sell more quickly, and navigate inspections seamlessly.
Finally, regarding our growth and market strategy: While we've been delighted to welcome a number of exceptional properties to the Elysian family over the past year, our expansion is highly selective. Our goal is not to be the largest, but rather to manage a portfolio of the market's top-tier homes. This strategic positioning allows us to exert greater positive influence on overall market pricing, which ultimately benefits every one of our partners.
Thank you for your continued trust and partnership. We are excited about what we can achieve together.
Warmly,
Paul Burke & the Elysian Team
