Submarket Revenue Focus | Alpine MeadowsTMR Team, December 14, 2016 in Alpine Meadows, Real Estate Developemnt, Rental Market, Revenue
A new era of resort real estate development has created new models for monetizing vacation holdings. Whether as a pure investment or, more commonly, a cost offset to an otherwise discretionary purchase, the ability to generate meaningful revenue via vacation rental is an increasing priority for consumers in the Tahoe Truckee market.
Focusing specifically on rental demand for the Alpine Meadows submarket, a unique market niche is apparent. According to Tahoe Getaways, the leading rental management firm in the Tahoe region, Alpine Meadows out performs Squaw Valley; especially on a value adjusted basis.
1) Alpine Meadows is supply constraint; there is an absence of multi-unit lodging competition.
2) Alpine Meadows terrain offers a more family friendly skiing experience. It has always been, and contrary to the views of some developers, will always be, about wealthy Bay Area families that have Tahoe engrained into their culture.
3) Alpine has a cult following by many bay area die-hards; especially the Bear Creek subdivision.
4) Alpine Meadows is not a one trick pony. It remains a vibrant lodging spot during the summer.
5) Subjectively, visitors perceive it as the real deal. “Genuine Mountain Experience” is arguably an overused term, but frankly, in the case of Alpine Meadows; hits the nail on the head.
There is a clear trend towards guests wanting to relax, unwind, enjoy… and SWEAT on vacation. Alpine Meadows has “out the door access” to some of the most popular hiking and biking options in the region. The Truckee River Bike Path is a huge amenity, and river rafting, a marquee Tahoe summer experience, terminates at the entrance to the neighborhood.
Alpine Meadows is not plagued by peak season traffic jams like certain areas in Tahoe City. Further, Alpine Meadow’s proximity to Tahoe City is undersold in the local market. The introduction of Uber and other transportation alternatives have mitigated the sense of isolation once associated with non-ski activities in Alpine Meadows, affectively delivering guests to food, cultural and other regional activities without hassle.
Investments in resort infrastructure from a well-capitalized operator will continue to enhance demand for Alpine Meadows. Namely, the proposed base-to-base gondola connecting the Village at Squaw Valley opens an opportunity for an Alpine Village experience without the drawbacks of higher density living.
Submitted by Jim Winterberger
Tahoe Getaways ~ Local, Upscale, Professional