How to Capitalize on Lake Havasu City Tourism

Lake Havasu City’s booming tourism industry continues to grow. Tourism opportunities draw more than just visitors; they are also a significant draw for CRE investment. With over 800,000 annual visitors, Lake Havasu City tourism offers many investment opportunities. This post explores what investors must do to maximize Lake Havasu commercial real estate.

Benefiting From Lake Havasu City Tourism

Types of Real Estate Tourism Affects Most

Investors should take time to learn about the different types of commercial real estate in Lake Havasu City. Mostly, you’re looking for the sectors that will benefit most from tourism. Lodgings and accommodations are highly profitable. That could be hotels and motels, but developers may consider building condos or resort communities. Restaurants and retail spaces find success in areas with high tourism traffic. Entertainment and recreation present additional opportunities, from water sports rentals to nightlife venues. Businesses catering to part-time residents also offer opportunities. For example, storage investing can be an attractive option.

Learn About the City’s Tourists

A little knowledge about the city’s tourists can go a long way when developing a strategy. The city attracts diverse visitors. Tourists include retirees, families, spring breakers, snowbirds, and those who love the outdoors. Each group has different needs, preferences, and spending habits. The average tourist spends on lodging, dining, and recreation, but these groups have differing patterns. Investors can analyze these behaviors to develop strategies and align offerings with different groups.

Location is Critical

A good location is crucial in any market but is even more critical in tourist destinations. Some areas are tourist hubs, while others may be peaceful communities. Waterfront properties or real estate near attractions like the London Bridge offer high tourism value. Properties along McCulloch Boulevard also do well for various CRE investments. You’re looking for areas with high tourism traffic and good visibility.

Invest in Reliable Property Management

Owning high-value Lake Havasu real estate is good, but management can make a significant difference. Reliable management ensures good experiences for guests and tenants. Whether it’s a hotel, retail property, or recreation, you should invest in property management. That ensures good services and property upkeep to protect the investment. Professional management can also provide efficient operation while you focus on the investment side of ownership.

Manage Seasonal Fluctuations

Like any tourist destination, Lake Havasu experiences seasonal peaks and off-seasons. The city’s peak is generally May through October, with additional activity around popular Lake Havasu events. However, the city sees action all year. During off-peak times, investors might offer discounts to attract more tourists. There may also be ways to diversify income streams or partner with other businesses. Success in Lake Havasu is about weathering slow periods and maximizing value during peaks. Driving more revenue during peaks can provide stability during slower times.

Are you ready to invest in Lake Havasu City? Reach out to Shuffler Commercial Real Estate. With our local knowledge and expertise, we can help you achieve your goals. You can also check out our featured listings to explore local properties.