Big Bear Lake businesses grapple with tourism wipeout - San Bernardino Sun
Summary
This article discusses the challenges faced by businesses in Big Bear Lake due to a decline in tourism. While specific details aren't provided in this title, it suggests potential market changes that could impact occupancy and profitability for STR hosts in the area.
Key Insights
- •The article's title indicates a potential 'tourism wipeout,' suggesting a decline in demand that may affect occupancy rates and revenue.
Action Items
- ✓Analyze historical occupancy and ADR data and compare it to the current situation to identify potential changes needed.Effort: mediumImpact: medium
- ✓Hosts in Big Bear Lake should monitor local tourism trends and adjust pricing strategies, potentially implementing dynamic or seasonal pricing to adapt to changing demand.Effort: lowImpact: medium
Common Mistakes
- ⚠Failing to monitor local market trends and adjust pricing can lead to underperformance and decreased profitability.
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