As we approach the end of 2024, it’s time for Park operators to reflect on the year’s successes and challenges. Conducting a detailed performance review will help you understand what worked, identify areas for improvement, and set a strong foundation for 2025.
Here’s a comprehensive guide to reviewing your holiday park’s 2024 performance, focusing on bookings revenue, sales revenue, secondary revenue, booking channels, and guest reviews.
Bookings Revenue: How did your occupancy perform?
Start by looking at one of your main sources of income: bookings. Break it down into key areas:
Occupancy Rates:
How full was your park throughout the year? Were there times when it wasn’t as busy as you’d hoped?
Booking Value:
- What was the average value of each booking?
- Did you have to offer discounts, and how did that affect your income
Seasonal Trends:
Look at which months were your busiest and which ones were quieter.
Ask Yourself: Did you meet your income targets for 2024? If not, what held you back?
Sales Revenue: How many holiday (or residential) homes did you sell?
If your park sells holiday homes, this is another key area to review. But sales don’t just come from new owners – owner upgrades can be a major source of income too:
Number of Units Sold:
How many homes did you sell compared to your target?
Owner Upgrades:
Did you encourage existing owners to upgrade to higher-spec lodges or newer models? Upgrades are a fantastic way to boost revenue without spending extra to attract new owners.
Tip: You should aim for 10% of owners to upgrade each year as part of your strategy. This could include offering trade-in deals or showcasing new models.
Average Sale Price:
Was your pricing competitive, or did you need to offer discounts?
Conversions:
What is your lead to sale %
How many potential buyers (new or existing) actually went through with a purchase?
Ask Yourself: Are you making the most of opportunities to increase revenue from current owners while still attracting new buyers?
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Start planning your most successful January sale yet. With the insights in this guide, you’ll have everything you need to drive leads, nurture prospects, and achieve record-breaking results.
Secondary Revenue: Boosting Income Beyond Bookings
Secondary revenue streams such as swimming, activities, and food & beverage (F&B) can significantly impact your bottom line. Break down performance into:
Activities:
- Which activities were most popular?
- Were there underperforming options you could replace or promote differently
Swimming Pools/Leisure Facilities:
- How many guests used these facilities?
- Did memberships or day passes boost revenue?
F&B Outlets:
Analyse menu performance, average spend per head, and high-performing items.
Key Question: Is there untapped potential to increase secondary revenue streams in 2025?
Revenue Channels: Which Channels Are Driving Revenue?
Evaluate your booking performance across channels:
Call Centre:
- What percentage of bookings came via phone?
- Were conversion rates high,
- Are your team trained to upsell?
Online Booking: Split this into sub-channels such as:
Direct Website Bookings: How well did your website convert traffic into bookings?
Look at the user experience and booking process.
Third-Party Platforms: Review revenue from OTAs like Hoseasons or Booking.com.
- Are commission rates eating into profits?
Social Media Ads:
- Did social campaigns drive bookings, and at what cost per acquisition?
Reception/Walk-Ins:
Assess how much revenue was generated from on-the-spot bookings. This could indicate the effectiveness of your on-site signage or guest enquiries.
Key Question: Which booking channels offer the highest ROI, and which require tweaking or improvement?
Guest Reviews: A Window into Customer Satisfaction
Guest feedback is invaluable for improving your park’s performance. Analyse reviews to identify patterns:
Overall Ratings:
- What is your park’s average rating across platforms like TripAdvisor, Google, or Facebook?
Positive Feedback:
- Identify the common themes guests loved (e.g., staff friendliness, park cleanliness, activities).
Negative Feedback: Address recurring complaints (e.g., slow service, accommodation upgrades required, outdated facilities, pricing concerns).
Trends Over Time:
- Did reviews improve over the year as changes were implemented? This helps gauge the success of your efforts.
Key Question: How will guest feedback shape your operational and marketing strategies in 2025?
Action Plan for 2025
Once you’ve reviewed your performance, it’s time to set some goals for the new year. Think about:
- Targets: Set clear goals for bookings, sales, and extra revenue streams.
- Improvements: Invest in the booking channels that worked best and fix any that underperformed.
- Guest Experience: Use reviews to prioritise upgrades and better staff training.
- Marketing Strategy: Plan offers and promotions that target low seasons or specific guest groups.
Final Thoughts
Reviewing your park’s performance doesn’t have to be complicated. By looking at your bookings, sales, extra income streams, booking channels, and guest reviews, you’ll get a clear picture of what worked and what didn’t. This will help you make smarter decisions and set yourself up for success in 2025.
Need Help with Planning?
At LADM, we specialise in helping holiday parks like yours grow their bookings, sales, and guest satisfaction. Let’s work together to make 2025 your best year yet.
