W E A LT H A S A VAC AT ION
20. Busch Gardens Williamsburg in Williamsburg, Virginia (annual park attendance: 2.78 million): Modeled after nine different European cities, this park features the Parisian streets of France and the Oktoberfest celebrations of Germany. It is also known for roller coasters and wild-animal attractions.
5.6 VRP Positioning Within any geographical area, you can purchase the right VRP in the wrong location. You can change the structure, remodel it, or alter the home’s layout. But generally, you cannot move it, as it’s attached to the land. The most desirable locations with the highest VRP occupancy and ADR values are those in prime spots. Locations near the ocean, rivers, lakes, or parks hold their value because of the location, providing they are not in the path of a possible natural hazard. People want to be near water or visually appealing settings. Some VRP locations bring top dollar because they provide sweeping panoramic views of the cityscapes, but even a glimpse of the ocean from one window is enough to drive even more demand for your vacation home. Other sought-after views include mountains, greenbelts, or golf courses. Entertainment and shopping areas are prime locations for VRP. In many cities, you will fi nd VRP developments that are located within short distances to theme parks, sports stadiums, theaters, retail, restaurants, and specialty boutiques. These properties are more expensive than those located further outside of town. Remember, people on vacation would rather not drive if they can walk to nightlife. Conforming areas where similar properties are grouped together thematically or through a certain design aesthetic can be a good place for a VPR investment. People tend to gravitate toward others who share similar values—and their homes (and vacation homes) reflect it. VRP guests mostly prefer to be surrounded by similar types of properties in age and construction, where people just like them vacation.
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