Latest / MC Fireside Chats, an Outdoor Hospitality Podcast / MC Fireside Chats - January 5th, 2022

Transcript

MC Fireside Chats - January 5th, 2022 · MC Fireside Chats, an Outdoor Hospitality Podcast

• 0:51
  Good
• 0:51
  morning,
• 0:52
  everybody
• 0:52
  afternoon,
• 0:53
  evening,
• 0:53
  wherever
• 0:54
  you
• 0:54
  are
• 0:54
  around
• 0:55
  the
• 0:55
  world.
• 0:55
  Welcome
• 0:56
  to
• 0:56
  our
• 0:56
  very
• 0:56
  first
• 0:56
  episode
• 0:57
  of
• 0:58
  2022.
• 0:59
  Happy
• 0:59
  new
• 0:59
  year
• 1:00
  to
• 1:00
  everybody.
• 1:00
  I'm
• 1:00
  going
• 1:00
  to
• 1:00
  tell
• 1:00
  you,
• 1:01
  I
• 1:01
  missed
• 1:01
  everybody
• 1:02
  on
• 1:02
  this
• 1:02
  show.
• 1:02
  Almost
• 1:03
  everybody.
• 1:04
  I'm
• 1:04
  not
• 1:04
  going
• 1:04
  to
• 1:04
  elaborate
• 1:04
  on
• 1:05
  that
• 1:05
  though.
• 1:05
  So
• 1:05
  I'll
• 1:05
  just
• 1:05
  let
• 1:05
  you
• 1:05
  guys
• 1:06
  guess
• 1:06
  let
• 1:06
  me
• 1:06
  see
• 1:07
  your
• 1:07
  news
• 1:07
  there.
• 1:07
  But
• 1:07
  really
• 1:08
  appreciate
• 1:08
  you
• 1:08
  guys
• 1:08
  joining
• 1:08
  us
• 1:08
  again,
• 1:09
  super
• 1:09
  excited
• 1:09
  to
• 1:09
  start
• 1:10
  a
• 1:10
  brand
• 1:10
  new
• 1:10
  year
• 1:10
  in
• 1:10
  the
• 1:10
  outdoor
• 1:11
  hospitality
• 1:11
  industry.
• 1:12
  As
• 1:12
  we
• 1:12
  know,
• 1:12
  all
• 1:13
  the
• 1:13
  metrics
• 1:13
  are
• 1:13
  up,
• 1:13
  everybody's
• 1:14
  looking
• 1:14
  forward
• 1:14
  to
• 1:14
  a
• 1:14
  great
• 1:15
  year.
• 1:15
  So
• 1:15
  I
• 1:15
  think
• 1:16
  we'll
• 1:16
  talk
• 1:16
  a
• 1:16
  little
• 1:16
  bit
• 1:16
  about
• 1:16
  that
• 1:17
  today,
• 1:17
  but
• 1:17
  we'll
• 1:17
  do
• 1:17
  our
• 1:17
  standard
• 1:18
  thing
• 1:18
  where
• 1:18
  we
• 1:18
  go
• 1:18
  around
• 1:19
  the
• 1:19
  room
• 1:19
  and
• 1:19
  see
• 1:19
  what's
• 1:19
  new.
• 1:19
  Maybe
• 1:20
  we
• 1:20
  could
• 1:20
  start
• 1:20
  out
• 1:20
  by
• 1:20
  telling
• 1:21
  people
• 1:21
  what
• 1:21
  you
• 1:21
  did
• 1:21
  for
• 1:21
  the
• 1:22
  holidays,
• 1:22
  how
• 1:22
  you
• 1:22
  had
• 1:22
  a
• 1:22
  good
• 1:22
  time,
• 1:23
  stuff
• 1:23
  like
• 1:23
  that.
• 1:23
  I
• 1:23
  think
• 1:24
  that's
• 1:24
  a
• 1:24
  good
• 1:24
  idea,
• 1:24
  Angela.
• 1:24
  Should
• 1:25
  we
• 1:25
  share
• 1:26
  here?
• 1:28
  All
• 1:28
  right,
• 1:28
  let's
• 1:28
  do
• 1:28
  it.
• 1:28
  Let's
• 1:28
  start
• 1:29
  with
• 1:29
  Angela
• 1:29
  then
• 1:29
  since
• 1:29
  she
• 1:30
  volunteered.
• 1:31
  Oh,
• 1:32
  look
• 1:32
  at
• 1:32
  that.
• 1:32
  How
• 1:32
  convenient?
• 1:33
  No,
• 1:33
  I
• 1:34
  just
• 1:34
  enjoyed
• 1:34
  a
• 1:34
  lot
• 1:34
  of
• 1:35
  time
• 1:35
  with
• 1:35
  family
• 1:36
  and
• 1:36
  a
• 1:36
  break
• 1:37
  from.
• 1:38
  And
• 1:38
  it
• 1:39
  was
• 1:39
  definitely
• 1:40
  needed
• 1:40
  and
• 1:40
  it
• 1:41
  was
• 1:41
  so
• 1:41
  nice
• 1:41
  to
• 1:41
  just
• 1:42
  relax
• 1:42
  and
• 1:42
  spend
• 1:43
  time
• 1:43
  with
• 1:43
  my
• 1:43
  kids
• 1:43
  that
• 1:44
  wasn't
• 1:44
  like
• 1:44
  trying
• 1:45
  to
• 1:45
  multitask
• 1:45
  with
• 1:46
  work
• 1:46
  tasks
• 1:47
  and
• 1:47
  things
• 1:47
  like
• 1:47
  that.
• 1:47
  So
• 1:48
  it
• 1:48
  was
• 1:48
  good.
• 1:49
  Awesome.
• 1:50
  Awesome.
• 1:51
  Who
• 1:51
  wants
• 1:51
  to
• 1:51
  go
• 1:51
  next?
• 1:53
  We'll
• 1:53
  do
• 1:53
  Scott,
• 1:54
  like
• 1:54
  I,
• 1:55
  we
• 1:55
  saw
• 1:55
  so
• 1:55
  many
• 1:55
  awesome
• 1:56
  pictures,
• 1:56
  so
• 1:57
  I
• 1:57
  know
• 1:57
  you
• 1:57
  had,
• 1:58
  oh
• 1:59
  yeah,
• 2:00
  no
• 2:00
  we
• 2:00
  had
• 2:00
  a
• 2:00
  great
• 2:01
  Christmas.
• 2:01
  We,
• 2:02
  we
• 2:02
  closed
• 2:03
  our
• 2:03
  company
• 2:03
  office
• 2:04
  between
• 2:04
  Christmas
• 2:05
  Eve
• 2:05
  and
• 2:06
  January
• 2:06
  2nd,
• 2:07
  and
• 2:07
  everybody
• 2:07
  got
• 2:08
  to
• 2:08
  disconnect
• 2:08
  for
• 2:09
  the
• 2:09
  most
• 2:09
  part
• 2:09
  anyways.
• 2:10
  So
• 2:10
  it
• 2:10
  was
• 2:10
  good
• 2:10
  just
• 2:11
  time
• 2:11
  spent
• 2:11
  with
• 2:11
  family
• 2:12
  and
• 2:12
  our
• 2:12
  little
• 2:12
  two
• 2:12
  year
• 2:13
  old.
• 2:13
  So
• 2:13
  it
• 2:13
  was
• 2:14
  time
• 2:14
  well
• 2:14
  spent.
• 2:16
  Awesome.
• 2:16
  Awesome.
• 2:20
  I
• 2:20
  can
• 2:20
  go
• 2:20
  next.
• 2:21
  It's
• 2:21
  still
• 2:21
  there.
• 2:21
  Yeah,
• 2:21
  we,
• 2:22
  I
• 2:22
  took
• 2:22
  actually
• 2:23
  a
• 2:23
  big
• 2:23
  RO
• 2:23
  RV
• 2:24
  road
• 2:24
  trip
• 2:24
  from
• 2:25
  Michigan
• 2:27
  down
• 2:27
  to
• 2:28
  down
• 2:28
  to
• 2:28
  Florida
• 2:28
  for
• 2:28
  us
• 2:29
  to
• 2:29
  my
• 2:29
  son's
• 2:29
  baseball
• 2:30
  tournament.
• 2:30
  For
• 2:30
  the
• 2:30
  most
• 2:31
  part
• 2:31
  was
• 2:31
  able
• 2:31
  to
• 2:31
  disconnect.
• 2:32
  This
• 2:32
  is
• 2:32
  still
• 2:32
  a
• 2:32
  fairly
• 2:33
  busy
• 2:33
  time
• 2:34
  for
• 2:34
  us
• 2:35
  just
• 2:35
  because
• 2:35
  there's
• 2:35
  so
• 2:36
  many
• 2:36
  parks
• 2:36
  trying
• 2:36
  to
• 2:36
  go
• 2:36
  live,
• 2:37
  right
• 2:37
  before
• 2:38
  the
• 2:38
  first
• 2:38
  of
• 2:38
  the
• 2:38
  year,
• 2:39
  get
• 2:39
  all
• 2:39
  their
• 2:39
  pricing
• 2:40
  and
• 2:40
  rules
• 2:40
  updated
• 2:41
  and
• 2:41
  all
• 2:41
  that
• 2:41
  good
• 2:41
  stuff.
• 2:42
  So
• 2:42
  from
• 2:42
  a
• 2:42
  support
• 2:43
  standpoint
• 2:43
  and
• 2:44
  an
• 2:44
  onboarding
• 2:44
  standpoint,
• 2:44
  it's
• 2:44
  still
• 2:45
  quite
• 2:45
  busy,
• 2:46
  but
• 2:46
  I
• 2:47
  was
• 2:47
  able
• 2:47
  to
• 2:47
  disconnect
• 2:47
  for
• 2:48
  a
• 2:48
  few
• 2:48
  days
• 2:48
  in
• 2:49
  there
• 2:49
  and
• 2:49
  I
• 2:49
  didn't
• 2:49
  crash.
• 2:50
  I
• 2:50
  didn't
• 2:50
  hit
• 2:50
  anybody
• 2:51
  didn't
• 2:51
  tip
• 2:51
  over.
• 2:52
  So
• 2:53
  I'm
• 2:53
  definitely
• 2:53
  novice.
• 2:54
  I'm
• 2:54
  driving
• 2:54
  a
• 2:54
  class
• 2:55
  that
• 2:55
  RV
• 2:55
  but
• 2:56
  it
• 2:56
  was
• 2:56
  a
• 2:56
  good
• 2:56
  trip.
• 2:56
  We
• 2:57
  had
• 2:57
  nine
• 2:58
  people
• 2:58
  in
• 2:58
  it,
• 2:58
  which
• 2:58
  I
• 2:59
  probably
• 2:59
  is
• 2:59
  illegal.
• 3:00
  But
• 3:00
  w
• 3:00
  we
• 3:00
  did
• 3:00
  get
• 3:01
  pulled
• 3:01
  over
• 3:01
  and
• 3:02
  I'm
• 3:02
  still
• 3:02
  here.
• 3:02
  So
• 3:03
  on.
• 3:05
  Yeah.
• 3:05
  Sounds
• 3:06
  fun.
• 3:06
  Who
• 3:07
  can
• 3:07
  top
• 3:07
  that?
• 3:07
  I
• 3:08
  can't
• 3:08
  talk,
• 3:08
  but
• 3:09
  there's
• 3:09
  no
• 3:09
  way
• 3:11
  all
• 3:11
  these
• 3:11
  were
• 3:11
  great
• 3:12
  and
• 3:12
  lots
• 3:12
  of
• 3:12
  time
• 3:12
  with
• 3:12
  my
• 3:13
  daughter,
• 3:13
  which
• 3:13
  was
• 3:14
  a
• 3:14
  fantastic,
• 3:14
  she,
• 3:15
  the
• 3:15
  reason
• 3:15
  for
• 3:15
  the
• 3:15
  season
• 3:16
  and
• 3:16
  the
• 3:17
  light
• 3:17
  of
• 3:17
  my
• 3:17
  life.
• 3:17
  So
• 3:18
  that
• 3:18
  was
• 3:18
  absolutely
• 3:18
  fantastic.
• 3:19
  And
• 3:20
  the
• 3:20
  only
• 3:20
  time
• 3:21
  I
• 3:21
  worked
• 3:21
  is
• 3:21
  when
• 3:21
  I
• 3:21
  was.
• 3:23
  So
• 3:23
  apart
• 3:24
  from
• 3:24
  that,
• 3:24
  it
• 3:24
  was
• 3:24
  all
• 3:24
  downtime.
• 3:28
  Awesome.
• 3:28
  Sorry.
• 3:28
  We're
• 3:29
  all
• 3:29
  talking
• 3:29
  over
• 3:29
  each
• 3:29
  other,
• 3:30
  please.
• 3:30
  Mark.
• 3:31
  Go
• 3:31
  ahead.
• 3:32
  Yeah.
• 3:32
  So
• 3:32
  we
• 3:33
  actually
• 3:33
  spent
• 3:33
  our
• 3:33
  first
• 3:34
  Christmas
• 3:34
  in
• 3:34
  12
• 3:35
  years
• 3:35
  in
• 3:35
  a
• 3:35
  house
• 3:36
  that
• 3:36
  is
• 3:36
  ours
• 3:37
  rather
• 3:37
  than
• 3:37
  an
• 3:37
  RV.
• 3:38
  If
• 3:38
  y'all
• 3:38
  remember,
• 3:38
  we
• 3:38
  sold
• 3:38
  our
• 3:39
  RV
• 3:39
  last
• 3:39
  year
• 3:39
  and
• 3:40
  so
• 3:40
  we
• 3:40
  had
• 3:40
  our
• 3:40
  first
• 3:40
  Christmas
• 3:41
  at
• 3:41
  home
• 3:42
  here
• 3:42
  in
• 3:42
  Wyoming,
• 3:43
  beautiful
• 3:43
  weather.
• 3:43
  We
• 3:43
  had
• 3:43
  a
• 3:44
  white
• 3:44
  Christmas
• 3:44
  in
• 3:44
  the
• 3:44
  morning
• 3:45
  and
• 3:45
  didn't
• 3:45
  take
• 3:46
  time
• 3:46
  off
• 3:46
  as
• 3:46
  much
• 3:47
  as
• 3:47
  I
• 3:47
  would
• 3:47
  want
• 3:48
  to
• 3:48
  just
• 3:48
  because
• 3:48
  we've
• 3:48
  got
• 3:49
  a
• 3:49
  a
• 3:49
  lot
• 3:49
  of
• 3:49
  pans
• 3:49
  in
• 3:50
  the
• 3:50
  fire
• 3:50
  right
• 3:50
  now,
• 3:50
  some
• 3:51
  good
• 3:51
  stuff
• 3:51
  coming
• 3:51
  here
• 3:51
  in
• 3:51
  2022.
• 3:52
  So
• 3:53
  took
• 3:53
  the
• 3:53
  opportunity
• 3:53
  in
• 3:53
  the
• 3:53
  holidays
• 3:54
  to
• 3:54
  catch
• 3:54
  up.
• 3:56
  Awesome.
• 3:57
  Can
• 3:57
  you
• 3:57
  guys
• 3:57
  see
• 3:57
  me
• 3:57
  again?
• 3:58
  I
• 3:58
  was
• 3:58
  having
• 3:58
  internet
• 3:58
  issues.
• 3:58
  Sorry.
• 3:59
  I
• 3:59
  don't
• 3:59
  know
• 3:59
  what's
• 3:59
  going
• 3:59
  on
• 3:59
  in
• 3:59
  your
• 4:00
  back.
• 4:00
  What
• 4:00
  about
• 4:00
  Reuben?
• 4:01
  How
• 4:01
  was
• 4:01
  your
• 4:01
  holidays?
• 4:01
  We've
• 4:02
  been
• 4:02
  good.
• 4:03
  I
• 4:03
  spent
• 4:04
  the
• 4:04
  last
• 4:04
  two
• 4:04
  weeks
• 4:04
  preparing
• 4:05
  for
• 4:05
  this
• 4:05
  conversation,
• 4:06
  so
• 4:06
  I
• 4:07
  feel
• 4:07
  ready
• 4:08
  to
• 4:08
  go.
• 4:09
  I've
• 4:09
  got
• 4:09
  my
• 4:10
  notes.
• 4:10
  I've
• 4:10
  done
• 4:11
  a
• 4:11
  bunch
• 4:11
  of
• 4:11
  mock
• 4:12
  conversations,
• 4:12
  so
• 4:13
  I
• 4:13
  can't
• 4:13
  over-prepare
• 4:15
  I
• 4:15
  never
• 4:16
  felt
• 4:16
  so
• 4:16
  special.
• 4:17
  Wow.
• 4:19
  More
• 4:19
  than
• 4:19
  I've
• 4:19
  ever
• 4:20
  prepared
• 4:20
  for
• 4:20
  the
• 4:20
  show.
• 4:21
  So
• 4:23
  I've
• 4:23
  got
• 4:23
  a,
• 4:24
  I've
• 4:24
  got
• 4:24
  two
• 4:24
  young
• 4:25
  daughters.
• 4:25
  So
• 4:25
  Christmas
• 4:26
  time
• 4:26
  is
• 4:26
  just
• 4:26
  usually
• 4:27
  centered
• 4:27
  around,
• 4:27
  that
• 4:28
  and
• 4:28
  presence
• 4:29
  and
• 4:29
  Santa
• 4:29
  Claus
• 4:30
  and
• 4:30
  all
• 4:30
  that
• 4:30
  stuff.
• 4:31
  And
• 4:31
  so
• 4:31
  it's
• 4:31
  a
• 4:31
  fun
• 4:32
  time
• 4:33
  of
• 4:33
  the
• 4:33
  year
• 4:33
  I'm
• 4:33
  in
• 4:33
  the
• 4:34
  Denver
• 4:34
  area.
• 4:34
  So
• 4:34
  it
• 4:35
  didn't
• 4:35
  feel
• 4:35
  like
• 4:35
  Christmas
• 4:36
  until
• 4:36
  about
• 4:37
  two
• 4:37
  days
• 4:37
  ago
• 4:37
  when
• 4:38
  we
• 4:38
  finally
• 4:38
  got
• 4:38
  some
• 4:38
  snow.
• 4:39
  So
• 4:39
  it
• 4:39
  was
• 4:39
  a
• 4:39
  warm
• 4:40
  unseasonably,
• 4:41
  warm
• 4:42
  Christmas.
• 4:42
  But
• 4:43
  but
• 4:43
  yeah,
• 4:43
  it
• 4:43
  was
• 4:44
  always.
• 4:46
  Awesome.
• 4:46
  Who
• 4:46
  do
• 4:47
  we
• 4:47
  have?
• 4:47
  Who
• 4:47
  you
• 4:47
  guys
• 4:47
  left?
• 4:47
  Carrie?
• 4:48
  Did
• 4:48
  you
• 4:48
  go
• 4:48
  or
• 4:49
  just
• 4:49
  me?
• 4:50
  Just
• 4:50
  me.
• 4:50
  Yeah,
• 4:51
  no
• 4:51
  mine
• 4:51
  say
• 4:51
  similar
• 4:52
  to
• 4:52
  the
• 4:52
  rest
• 4:52
  of
• 4:52
  you.
• 4:53
  I
• 4:53
  really
• 4:53
  just
• 4:54
  focused
• 4:54
  on
• 4:54
  my
• 4:54
  kids
• 4:54
  and
• 4:55
  did
• 4:56
  all
• 4:56
  those
• 4:56
  typical
• 4:56
  Christmasy,
• 4:57
  sledding,
• 4:58
  ice,
• 4:58
  skating,
• 4:59
  skiing,
• 5:00
  fun
• 5:00
  things,
• 5:01
  family
• 5:01
  dinners.
• 5:01
  Yeah,
• 5:02
  all
• 5:02
  of
• 5:03
  that
• 5:03
  was
• 5:03
  great.
• 5:03
  I
• 5:04
  I
• 5:04
  did
• 5:05
  get
• 5:05
  some
• 5:05
  work
• 5:05
  done
• 5:05
  over
• 5:06
  the
• 5:06
  holidays
• 5:06
  for
• 5:06
  sure.
• 5:07
  I
• 5:07
  think
• 5:07
  it's
• 5:07
  interesting
• 5:07
  that
• 5:08
  we
• 5:08
  all
• 5:08
  in
• 5:08
  support
• 5:09
  of
• 5:09
  the
• 5:09
  industry
• 5:10
  are
• 5:10
  prepping
• 5:10
  at
• 5:11
  this
• 5:11
  time
• 5:11
  of
• 5:11
  the
• 5:11
  year
• 5:12
  to
• 5:12
  really
• 5:13
  get
• 5:13
  rolling
• 5:13
  again.
• 5:13
  I
• 5:14
  don't
• 5:14
  know
• 5:14
  if
• 5:14
  you
• 5:14
  guys
• 5:14
  can
• 5:14
  see
• 5:14
  me
• 5:15
  again,
• 5:15
  but
• 5:15
  all
• 5:15
  your
• 5:15
  heads
• 5:15
  are
• 5:16
  frozen.
• 5:16
  We'll
• 5:16
  just
• 5:16
  play
• 5:17
  this
• 5:17
  by
• 5:17
  here
• 5:17
  and
• 5:17
  see
• 5:17
  how
• 5:17
  it
• 5:18
  goes.
• 5:18
  But
• 5:18
  just
• 5:18
  somebody
• 5:19
  telling
• 5:19
  me
• 5:19
  if
• 5:19
  my
• 5:19
  video
• 5:19
  goes
• 5:19
  bad
• 5:20
  and
• 5:20
  I'll
• 5:20
  do
• 5:20
  something
• 5:20
  mess
• 5:21
  with
• 5:21
  it.
• 5:21
  So
• 5:21
  yeah,
• 5:21
  w
• 5:22
  first
• 5:22
  let's,
• 5:22
  before
• 5:22
  we
• 5:23
  get
• 5:23
  into
• 5:23
  what
• 5:23
  happened
• 5:23
  and
• 5:23
  what
• 5:24
  people
• 5:24
  are
• 5:24
  looking
• 5:24
  forward
• 5:24
  to
• 5:24
  2012,
• 5:25
  22
• 5:26
  let's
• 5:26
  welcome
• 5:26
  Ruben
• 5:27
  to
• 5:27
  the
• 5:27
  show.
• 5:27
  He's
• 5:28
  going
• 5:28
  to
• 5:28
  be
• 5:28
  a
• 5:28
  regular
• 5:28
  guest
• 5:29
  with
• 5:29
  us
• 5:29
  super
• 5:29
  excited
• 5:30
  to
• 5:30
  have
• 5:30
  him
• 5:30
  here
• 5:30
  for
• 5:30
  his
• 5:30
  first
• 5:31
  show.
• 5:31
  He's
• 5:32
  obviously
• 5:32
  spent
• 5:32
  two
• 5:33
  weeks
• 5:33
  prepping,
• 5:33
  so
• 5:34
  I
• 5:34
  felt
• 5:34
  like
• 5:34
  we
• 5:34
  should
• 5:34
  just
• 5:35
  turn
• 5:35
  it
• 5:35
  over
• 5:35
  to
• 5:35
  him
• 5:35
  and
• 5:35
  just
• 5:36
  go
• 5:36
  away.
• 5:36
  But
• 5:36
  Ruben,
• 5:37
  do
• 5:37
  you
• 5:37
  want
• 5:37
  to
• 5:37
  give
• 5:37
  us
• 5:37
  a
• 5:37
  little
• 5:37
  bit
• 5:38
  of
• 5:38
  background
• 5:38
  on
• 5:38
  who
• 5:38
  you
• 5:38
  are,
• 5:39
  your
• 5:39
  expertise
• 5:40
  in
• 5:40
  the
• 5:40
  glamping
• 5:40
  industry,
• 5:41
  things
• 5:41
  you've
• 5:41
  done
• 5:41
  that
• 5:41
  kind
• 5:42
  of
• 5:42
  stuff.
• 5:43
  Yeah.
• 5:43
  I
• 5:43
  prepared
• 5:44
  a
• 5:44
  40
• 5:45
  page
• 5:45
  slideshow
• 5:45
  presentation,
• 5:46
  so
• 5:47
  I've
• 5:48
  got
• 5:48
  bad
• 5:48
  internet,
• 5:48
  so
• 5:49
  that'll
• 5:49
  carry
• 5:49
  the
• 5:49
  show.
• 5:50
  Yeah,
• 5:50
  so
• 5:50
  I
• 5:50
  started
• 5:50
  in
• 5:50
  the
• 5:51
  outdoor
• 5:51
  space
• 5:52
  and
• 5:52
  as
• 5:52
  one
• 5:52
  of
• 5:52
  the
• 5:52
  founders
• 5:53
  of
• 5:53
  a
• 5:53
  company
• 5:53
  called
• 5:54
  glamping
• 5:54
  hub.
• 5:54
  So
• 5:55
  think
• 5:55
  of
• 5:55
  us
• 5:55
  as
• 5:55
  a
• 5:56
  Airbnb,
• 5:56
  but
• 5:56
  only
• 5:57
  for
• 5:57
  outdoor
• 5:58
  unique
• 5:58
  accommodations
• 5:59
  in
• 5:59
  glamping.
• 6:00
  We've
• 6:00
  got
• 6:01
  70%
• 6:01
  of
• 6:01
  what
• 6:01
  we
• 6:01
  do
• 6:02
  is
• 6:02
  here
• 6:02
  within
• 6:02
  the
• 6:03
  United
• 6:04
  States.
• 6:04
  In
• 6:04
  that
• 6:05
  it
• 6:05
  started
• 6:05
  the
• 6:05
  American
• 6:06
  glamping
• 6:06
  association.
• 6:07
  We
• 6:07
  just
• 6:07
  had
• 6:07
  a
• 6:07
  lot
• 6:08
  of
• 6:08
  inbound
• 6:08
  conversations
• 6:09
  for
• 6:09
  people
• 6:09
  who
• 6:09
  needed
• 6:10
  tools
• 6:11
  support
• 6:12
  and.
• 6:12
  Tools
• 6:12
  and
• 6:13
  support,
• 6:14
  and
• 6:14
  they
• 6:14
  could
• 6:14
  be
• 6:14
  a
• 6:15
  aspired
• 6:15
  operator,
• 6:16
  an
• 6:16
  existing
• 6:16
  operator
• 6:17
  manufacturers
• 6:18
  going
• 6:19
  to
• 6:19
  anybody
• 6:19
  and
• 6:19
  everybody
• 6:19
  in
• 6:20
  this
• 6:20
  space.
• 6:20
  And
• 6:20
  it's
• 6:20
  been
• 6:20
  a
• 6:21
  great
• 6:21
  journey
• 6:21
  over
• 6:21
  the
• 6:21
  last
• 6:21
  few
• 6:21
  years
• 6:22
  with
• 6:22
  the
• 6:22
  association,
• 6:23
  just
• 6:23
  seeing
• 6:24
  the
• 6:24
  outdoor
• 6:25
  space
• 6:25
  and
• 6:25
  whether
• 6:26
  it's
• 6:26
  glamping,
• 6:26
  camping,
• 6:27
  RVs,
• 6:27
  anything
• 6:28
  outdoors
• 6:29
  really
• 6:29
  boom,
• 6:29
  even
• 6:30
  pre
• 6:30
  COVID.
• 6:31
  So
• 6:31
  the
• 6:31
  association
• 6:32
  is
• 6:32
  really
• 6:33
  a
• 6:34
  place
• 6:34
  for
• 6:34
  us
• 6:34
  to
• 6:34
  just
• 6:34
  help
• 6:35
  people
• 6:35
  get
• 6:36
  across
• 6:36
  their
• 6:36
  version
• 6:37
  of
• 6:37
  their
• 6:37
  finish
• 6:37
  line,
• 6:37
  whatever
• 6:38
  that
• 6:38
  might
• 6:38
  look
• 6:39
  like.
• 6:39
  So
• 6:39
  yeah,
• 6:39
  looking
• 6:39
  into,
• 6:40
  20,
• 6:40
  22
• 6:41
  and
• 6:41
  things
• 6:41
  that
• 6:41
  are
• 6:42
  on
• 6:42
  the
• 6:42
  horizon,
• 6:42
  everybody
• 6:43
  obviously
• 6:43
  knows
• 6:43
  that
• 6:44
  the.
• 6:45
  Really
• 6:45
  become
• 6:45
  this
• 6:46
  bright
• 6:46
  light
• 6:46
  in
• 6:47
  the,
• 6:47
  out
• 6:47
  in
• 6:47
  the
• 6:47
  hospitality
• 6:48
  as
• 6:48
  a
• 6:48
  self
• 6:49
  and
• 6:49
  we
• 6:49
  are
• 6:50
  very
• 6:50
  we're
• 6:50
  data
• 6:51
  junkies
• 6:51
  and
• 6:52
  many
• 6:52
  different
• 6:52
  way.
• 6:53
  And
• 6:53
  looking
• 6:53
  at
• 6:54
  the
• 6:54
  data
• 6:55
  that
• 6:55
  we
• 6:55
  have
• 6:55
  so
• 6:55
  far
• 6:56
  in
• 6:56
  what
• 6:56
  Q1
• 6:57
  in
• 6:57
  the
• 6:57
  outdoor
• 6:58
  space
• 6:58
  will
• 6:58
  look
• 6:58
  like.
• 6:59
  It's
• 6:59
  exciting,
• 6:59
  at
• 6:59
  the
• 6:59
  very,
• 7:00
  I
• 7:00
  guess
• 7:00
  that's
• 7:01
  the
• 7:01
  only
• 7:01
  way
• 7:01
  to
• 7:02
  put
• 7:02
  it.
• 7:02
  I
• 7:02
  know
• 7:02
  people
• 7:02
  always
• 7:03
  ask
• 7:04
  is,
• 7:04
  specifically
• 7:05
  what
• 7:05
  we
• 7:05
  do
• 7:05
  in
• 7:05
  the
• 7:05
  glamping
• 7:06
  world,
• 7:07
  is
• 7:07
  it
• 7:07
  fading
• 7:07
  away?
• 7:08
  Is
• 7:08
  it
• 7:08
  a
• 7:08
  fad?
• 7:09
  W
• 7:09
  at
• 7:09
  what
• 7:10
  point
• 7:10
  will
• 7:10
  it
• 7:10
  start
• 7:11
  to
• 7:11
  slow
• 7:11
  down?
• 7:12
  I've
• 7:12
  been
• 7:12
  asked
• 7:12
  that
• 7:12
  question
• 7:13
  for
• 7:13
  over
• 7:13
  a
• 7:13
  decade,
• 7:14
  and
• 7:14
  it's
• 7:14
  always
• 7:14
  the
• 7:14
  same
• 7:15
  question
• 7:15
  of
• 7:15
  last
• 7:16
  this
• 7:16
  year
• 7:17
  was,
• 7:17
  a
• 7:18
  hundred
• 7:18
  percent
• 7:18
  better
• 7:18
  than
• 7:18
  last
• 7:19
  year.
• 7:19
  So
• 7:20
  I,
• 7:20
  I
• 7:20
  don't
• 7:20
  see
• 7:21
  that
• 7:21
  there
• 7:21
  is
• 7:21
  no
• 7:21
  horizon
• 7:22
  of
• 7:22
  things
• 7:22
  slowing
• 7:23
  down.
• 7:23
  So
• 7:24
  very
• 7:24
  excited
• 7:24
  for
• 7:25
  the
• 7:25
  outdoors
• 7:25
  in
• 7:25
  general,
• 7:26
  very
• 7:26
  excited
• 7:27
  for
• 7:27
  what
• 7:27
  we're
• 7:27
  seeing
• 7:28
  for
• 7:28
  our
• 7:28
  operators
• 7:29
  and
• 7:29
  anybody
• 7:30
  and
• 7:30
  everybody
• 7:31
  in
• 7:31
  the
• 7:31
  outdoor
• 7:31
  economy,
• 7:32
  this
• 7:32
  is
• 7:32
  a
• 7:32
  giant
• 7:33
  industry
• 7:33
  and
• 7:33
  it's
• 7:33
  economy
• 7:34
  in
• 7:34
  itself.
• 7:34
  And
• 7:35
  we're
• 7:35
  just
• 7:35
  excited
• 7:35
  to
• 7:35
  be,
• 7:36
  play
• 7:36
  our
• 7:36
  small
• 7:37
  role
• 7:37
  in
• 7:38
  whatever
• 7:38
  happens.
• 7:40
  Awesome.
• 7:41
  Thank
• 7:41
  you,
• 7:41
  sir.
• 7:41
  Angela,
• 7:42
  what
• 7:42
  do
• 7:42
  you
• 7:42
  want?
• 7:42
  Should
• 7:42
  we
• 7:42
  focus
• 7:43
  on
• 7:43
  20,
• 7:43
  22?
• 7:44
  What's
• 7:44
  going
• 7:44
  to
• 7:44
  happen?
• 7:45
  What
• 7:45
  people
• 7:45
  think
• 7:45
  is
• 7:45
  going
• 7:45
  to
• 7:46
  go
• 7:46
  on?
• 7:46
  Should
• 7:46
  we
• 7:46
  go
• 7:46
  around
• 7:47
  the
• 7:47
  room?
• 7:47
  Like
• 7:47
  normal?
• 7:48
  What
• 7:48
  do
• 7:48
  you
• 7:48
  think?
• 7:48
  I
• 7:48
  think
• 7:49
  we
• 7:49
  should
• 7:49
  probably
• 7:50
  start
• 7:50
  touching
• 7:50
  on
• 7:50
  some
• 7:51
  of
• 7:51
  the
• 7:51
  things
• 7:51
  we
• 7:51
  already
• 7:51
  did
• 7:51
  a
• 7:51
  recap
• 7:52
  at
• 7:53
  the
• 7:53
  end
• 7:53
  of
• 7:53
  last
• 7:53
  year.
• 7:54
  So
• 7:54
  I
• 7:54
  think
• 7:55
  that
• 7:55
  we
• 7:55
  should
• 7:55
  start
• 7:55
  diving
• 7:56
  into
• 7:56
  kind
• 7:56
  of
• 7:56
  what's
• 7:57
  coming
• 7:57
  up
• 7:57
  and
• 7:57
  some
• 7:57
  of
• 7:58
  the
• 7:58
  things
• 7:58
  that
• 7:58
  we're
• 7:58
  seeing
• 7:58
  with
• 7:59
  the
• 7:59
  unfortunate
• 8:00
  COVID
• 8:00
  numbers
• 8:00
  and
• 8:01
  RV
• 8:01
  shows.
• 8:01
  Yeah.
• 8:02
  Those
• 8:02
  kinds
• 8:03
  of
• 8:03
  things
• 8:03
  and
• 8:03
  what's
• 8:03
  happening
• 8:04
  with
• 8:04
  those.
• 8:04
  So
• 8:05
  I
• 8:05
  think
• 8:05
  we've
• 8:05
  got
• 8:05
  a
• 8:05
  a
• 8:05
  lot
• 8:06
  to
• 8:06
  talk
• 8:06
  about
• 8:06
  in
• 8:06
  2022.
• 8:08
  All
• 8:08
  right.
• 8:08
  Let's
• 8:08
  go
• 8:08
  around
• 8:09
  the
• 8:09
  room
• 8:09
  real
• 8:09
  quick,
• 8:09
  right?
• 8:09
  There's
• 8:10
  everybody
• 8:10
  give
• 8:11
  a
• 8:11
  one
• 8:11
  or
• 8:11
  two
• 8:11
  sentences
• 8:12
  of
• 8:12
  what
• 8:12
  you're
• 8:12
  looking
• 8:12
  forward
• 8:13
  to
• 8:13
  2022
• 8:14
  in
• 8:14
  the
• 8:14
  industry
• 8:15
  with
• 8:15
  your
• 8:15
  businesses,
• 8:15
  whatever
• 8:16
  else
• 8:16
  it
• 8:16
  might
• 8:16
  be
• 8:16
  with
• 8:17
  the
• 8:17
  owners
• 8:17
  you're
• 8:17
  talking
• 8:17
  to,
• 8:18
  and
• 8:18
  then
• 8:18
  wherever
• 8:18
  we
• 8:18
  get
• 8:19
  stuck,
• 8:19
  we'll
• 8:19
  get
• 8:19
  stuck
• 8:19
  up
• 8:20
  about
• 8:20
  that.
• 8:23
  Randy.
• 8:23
  You
• 8:23
  want
• 8:23
  to
• 8:23
  go
• 8:24
  first?
• 8:25
  Sure.
• 8:25
  Why
• 8:26
  not?
• 8:26
  Very
• 8:27
  interesting
• 8:27
  stuff
• 8:27
  towards
• 8:28
  the
• 8:28
  end
• 8:28
  of
• 8:28
  the
• 8:28
  year
• 8:29
  with
• 8:29
  sun
• 8:29
  buying
• 8:30
  LSI.
• 8:31
  And
• 8:33
  it
• 8:33
  really
• 8:34
  surprised
• 8:34
  me,
• 8:34
  but
• 8:34
  then
• 8:34
  again,
• 8:35
  it
• 8:35
  really
• 8:35
  didn't
• 8:35
  because
• 8:36
  I
• 8:36
  think
• 8:36
  all
• 8:36
  of
• 8:36
  us
• 8:37
  are
• 8:37
  talk
• 8:37
  from
• 8:37
  time
• 8:37
  to
• 8:37
  time
• 8:38
  about
• 8:38
  the
• 8:38
  inevitable
• 8:39
  consolidation
• 8:41
  within
• 8:41
  the
• 8:41
  outdoor
• 8:42
  hospitality
• 8:42
  world
• 8:43
  of
• 8:43
  some
• 8:43
  of
• 8:43
  the
• 8:43
  bigger
• 8:43
  players
• 8:44
  coming
• 8:44
  in,
• 8:45
  maybe
• 8:45
  even
• 8:45
  some
• 8:45
  hotel
• 8:46
  chains
• 8:46
  coming
• 8:47
  in.
• 8:47
  And
• 8:48
  although
• 8:48
  the
• 8:48
  news
• 8:48
  first
• 8:49
  took
• 8:49
  me
• 8:49
  back
• 8:49
  like
• 8:49
  a
• 8:50
  G
• 8:50
  I
• 8:50
  didn't
• 8:50
  really
• 8:50
  see
• 8:51
  that
• 8:51
  coming.
• 8:51
  It
• 8:51
  started
• 8:51
  to
• 8:52
  make
• 8:52
  a
• 8:52
  whole
• 8:52
  lot
• 8:52
  of
• 8:52
  sense.
• 8:53
  And
• 8:53
  quite
• 8:53
  frankly,
• 8:54
  if
• 8:54
  someone's
• 8:54
  going
• 8:55
  to
• 8:55
  start
• 8:55
  some
• 8:55
  consolidation
• 8:56
  of
• 8:56
  some
• 8:56
  of
• 8:56
  the
• 8:56
  franchising
• 8:57
  type
• 8:58
  stuff,
• 8:58
  why
• 8:59
  not
• 8:59
  somebody
• 8:59
  who's
• 8:59
  already
• 8:59
  in
• 9:00
  the
• 9:00
  space
• 9:00
  who
• 9:00
  knows
• 9:00
  the
• 9:01
  space
• 9:01
  as
• 9:01
  opposed
• 9:02
  to
• 9:02
  a
• 9:02
  quote
• 9:03
  unquote
• 9:03
  outsider,
• 9:04
  like
• 9:04
  some,
• 9:04
  a
• 9:05
  nameless
• 9:05
  hotelier
• 9:06
  that
• 9:06
  might
• 9:06
  come
• 9:06
  in
• 9:06
  thinking
• 9:07
  they've
• 9:07
  got
• 9:07
  a
• 9:07
  better
• 9:07
  way
• 9:07
  of
• 9:08
  doing
• 9:08
  things.
• 9:08
  So
• 9:09
  that's
• 9:09
  going
• 9:09
  to
• 9:09
  be
• 9:10
  really
• 9:10
  fun
• 9:10
  to
• 9:10
  watch.
• 9:11
  It's
• 9:11
  going
• 9:11
  to
• 9:11
  be
• 9:11
  fun
• 9:11
  to
• 9:12
  watch
• 9:12
  how
• 9:12
  Koa
• 9:13
  responds
• 9:13
  to
• 9:13
  the
• 9:13
  LSI
• 9:15
  acquisition
• 9:15
  by.
• 9:16
  And
• 9:17
  I
• 9:17
  think
• 9:17
  we're
• 9:17
  going
• 9:17
  to
• 9:17
  see
• 9:18
  the
• 9:18
  continued
• 9:18
  influx
• 9:19
  of
• 9:19
  intelligent
• 9:20
  capital
• 9:20
  and
• 9:20
  larger
• 9:21
  companies
• 9:21
  consolidating
• 9:22
  and
• 9:22
  aggregating
• 9:23
  these
• 9:24
  assets
• 9:24
  when
• 9:24
  they
• 9:24
  can
• 9:25
  find
• 9:25
  them
• 9:25
  because,
• 9:26
  I
• 9:26
  own
• 9:26
  United
• 9:26
  part
• 9:27
  brokerage.
• 9:27
  And
• 9:27
  I
• 9:27
  can
• 9:28
  certainly
• 9:28
  tell
• 9:28
  you
• 9:28
  inventory
• 9:29
  is
• 9:29
  very
• 9:29
  thin.
• 9:30
  So
• 9:31
  it's
• 9:31
  going
• 9:32
  to
• 9:32
  be
• 9:32
  really
• 9:32
  interesting
• 9:32
  the
• 9:33
  first
• 9:33
  quarter.
• 9:33
  I
• 9:33
  think
• 9:33
  it
• 9:33
  was
• 9:33
  going
• 9:34
  to
• 9:34
  really
• 9:34
  set
• 9:34
  the
• 9:34
  pace
• 9:35
  for
• 9:35
  the
• 9:35
  rest
• 9:35
  of
• 9:35
  the
• 9:35
  year.
• 9:36
  But
• 9:36
  if
• 9:36
  past
• 9:37
  history
• 9:37
  is
• 9:37
  any
• 9:37
  indication,
• 9:39
  it
• 9:40
  can
• 9:40
  change
• 9:40
  by
• 9:41
  the
• 9:41
  day
• 9:41
  as
• 9:41
  we
• 9:41
  all
• 9:42
  know
• 9:42
  quite
• 9:42
  well.
• 9:43
  I
• 9:43
  guess
• 9:43
  that
• 9:43
  would
• 9:43
  be
• 9:43
  my
• 9:43
  first
• 9:44
  kick
• 9:44
  off.
• 9:44
  I
• 9:44
  just
• 9:44
  think
• 9:44
  it
• 9:44
  would
• 9:44
  be
• 9:44
  the
• 9:45
  good
• 9:45
  attenuation
• 9:45
  of
• 9:45
  what
• 9:46
  we've
• 9:46
  seen,
• 9:46
  which
• 9:46
  is
• 9:46
  continued
• 9:47
  consolidation
• 9:48
  and
• 9:48
  a
• 9:49
  higher
• 9:49
  level
• 9:49
  of
• 9:49
  operating
• 9:50
  performance,
• 9:51
  a
• 9:51
  higher
• 9:51
  level
• 9:51
  of
• 9:52
  expertise.
• 9:53
  And
• 9:53
  more
• 9:53
  importantly,
• 9:54
  I
• 9:54
  think,
• 9:54
  and
• 9:55
  I'll
• 9:55
  leave
• 9:55
  it
• 9:55
  with
• 9:55
  this.
• 9:56
  The
• 9:56
  continued
• 9:56
  focus
• 9:57
  on
• 9:57
  the
• 9:57
  guest
• 9:57
  experience
• 9:58
  as
• 9:58
  the
• 9:58
  main
• 9:59
  driver,
• 9:59
  we
• 9:59
  can
• 10:00
  look
• 10:00
  at
• 10:00
  spreadsheets
• 10:00
  all
• 10:01
  we
• 10:01
  want
• 10:01
  to,
• 10:01
  but
• 10:02
  if
• 10:02
  you're
• 10:02
  not
• 10:02
  really
• 10:03
  focusing
• 10:03
  on
• 10:03
  what
• 10:04
  the
• 10:04
  guest
• 10:04
  is
• 10:04
  experiencing,
• 10:05
  when
• 10:05
  they
• 10:05
  go
• 10:05
  to
• 10:05
  a
• 10:05
  property,
• 10:06
  we're
• 10:06
  missing
• 10:07
  the
• 10:07
  mark
• 10:07
  anyway.
• 10:08
  And
• 10:08
  I
• 10:08
  think
• 10:08
  that's
• 10:09
  coming
• 10:09
  more
• 10:09
  and
• 10:09
  more
• 10:10
  into
• 10:10
  focus.
• 10:10
  And
• 10:10
  I
• 10:10
  know
• 10:11
  Scott
• 10:11
  can
• 10:11
  certainly
• 10:11
  speak
• 10:12
  to
• 10:12
  that.
• 10:12
  Absolutely.
• 10:13
  But
• 10:13
  the,
• 10:14
  and
• 10:14
  that's
• 10:14
  great
• 10:14
  for
• 10:14
  the
• 10:14
  consumer,
• 10:15
  the
• 10:15
  continued
• 10:16
  focus
• 10:16
  on
• 10:16
  upgrading
• 10:17
  the
• 10:17
  guest
• 10:18
  experience.
• 10:18
  That's
• 10:19
  the
• 10:19
  only
• 10:19
  reason
• 10:19
  you're
• 10:19
  going
• 10:19
  to
• 10:19
  stay
• 10:20
  in
• 10:20
  business
• 10:20
  anyway.
• 10:21
  So
• 10:21
  it's
• 10:21
  great
• 10:22
  to
• 10:22
  see,
• 10:22
  and
• 10:22
  I
• 10:22
  don't
• 10:22
  think
• 10:23
  it's
• 10:23
  ever
• 10:23
  been
• 10:23
  a
• 10:23
  keener
• 10:23
  focus
• 10:24
  than
• 10:24
  there
• 10:24
  is
• 10:24
  now.
• 10:26
  Yeah,
• 10:26
  I
• 10:26
  agree
• 10:26
  in
• 10:27
  it.
• 10:27
  And
• 10:27
  then
• 10:27
  maybe
• 10:27
  we
• 10:27
  should
• 10:27
  touch
• 10:28
  on
• 10:28
  that
• 10:28
  briefly.
• 10:28
  I
• 10:28
  don't
• 10:28
  want
• 10:28
  to
• 10:28
  spend,
• 10:29
  obviously
• 10:29
  the
• 10:29
  whole
• 10:29
  show
• 10:29
  talking
• 10:30
  about
• 10:30
  sending
• 10:30
  LSI,
• 10:31
  but
• 10:31
  what
• 10:31
  you're
• 10:31
  talking
• 10:31
  about
• 10:31
  in
• 10:32
  a
• 10:32
  broader
• 10:32
  aspect
• 10:33
  is
• 10:33
  super
• 10:34
  important
• 10:34
  for
• 10:34
  people
• 10:34
  to
• 10:34
  pay
• 10:34
  attention
• 10:35
  to
• 10:35
  you.
• 10:35
  Casually
• 10:36
  talking
• 10:36
  about
• 10:36
  you
• 10:36
  and
• 10:36
  me
• 10:36
  or
• 10:37
  me
• 10:37
  and
• 10:37
  Scott
• 10:37
  or
• 10:37
  me
• 10:37
  and
• 10:38
  whoever.
• 10:38
  Are
• 10:39
  you
• 10:39
  guys
• 10:39
  having
• 10:39
  your
• 10:39
  own
• 10:39
  discussions
• 10:40
  about
• 10:40
  the
• 10:40
  consolidation
• 10:41
  of
• 10:41
  the
• 10:41
  industry?
• 10:42
  And
• 10:42
  it's
• 10:42
  not
• 10:42
  as
• 10:43
  easy
• 10:43
  to
• 10:43
  find
• 10:43
  that
• 10:44
  building
• 10:44
  or
• 10:44
  that
• 10:45
  property
• 10:45
  where
• 10:46
  you
• 10:46
  can
• 10:46
  build
• 10:46
  a
• 10:46
  hotel
• 10:47
  vertically,
• 10:47
  like
• 10:47
  it
• 10:47
  is
• 10:48
  with
• 10:48
  the
• 10:48
  Marriotts
• 10:48
  and
• 10:48
  Hyatts
• 10:49
  and
• 10:49
  things
• 10:49
  like
• 10:49
  that.
• 10:50
  So
• 10:51
  as
• 10:51
  you're
• 10:51
  saying,
• 10:51
  Randy
• 10:52
  inventories,
• 10:53
  small,
• 10:53
  it's
• 10:53
  less
• 10:54
  available,
• 10:54
  but
• 10:55
  there's
• 10:55
  still
• 10:55
  going
• 10:55
  to
• 10:55
  be,
• 10:56
  I
• 10:56
  think
• 10:56
  this
• 10:56
  push,
• 10:56
  especially
• 10:57
  as
• 10:57
  people
• 10:57
  realize
• 10:58
  how
• 10:58
  recession
• 10:58
  and
• 10:59
  pandemic
• 10:59
  proof
• 10:59
  and
• 10:59
  all
• 10:59
  the
• 11:00
  other
• 11:00
  things
• 11:00
  proof,
• 11:01
  the
• 11:01
  outdoor
• 11:01
  hospitality
• 11:02
  so
• 11:02
  far
• 11:02
  seems
• 11:03
  to
• 11:03
  be
• 11:03
  cross
• 11:03
  your
• 11:04
  fingers
• 11:04
  right
• 11:05
  now,
• 11:05
  looking
• 11:05
  out
• 11:06
  for
• 11:06
  us
• 11:06
  to
• 11:06
  find
• 11:06
  something
• 11:07
  that
• 11:07
  we're
• 11:07
  not,
• 11:07
  but
• 11:07
  all
• 11:08
  is
• 11:08
  well
• 11:08
  so
• 11:08
  far.
• 11:08
  But
• 11:09
  I
• 11:09
  think
• 11:09
  you're
• 11:09
  going
• 11:09
  to
• 11:09
  start
• 11:10
  to
• 11:10
  see
• 11:10
  this.
• 11:11
  Do
• 11:11
  the
• 11:11
  LSIs,
• 11:11
  as
• 11:11
  we've
• 11:12
  seen,
• 11:12
  I
• 11:12
  think
• 11:12
  Koa
• 11:13
  is
• 11:13
  going
• 11:13
  to
• 11:13
  respond
• 11:13
  some
• 11:14
  way.
• 11:14
  I
• 11:14
  don't
• 11:14
  know
• 11:14
  how
• 11:14
  that
• 11:14
  is.
• 11:15
  But
• 11:15
  I
• 11:15
  think
• 11:15
  eventually
• 11:16
  you're
• 11:16
  going
• 11:16
  to
• 11:16
  see
• 11:16
  the
• 11:16
  Marriotts
• 11:17
  and
• 11:17
  the
• 11:17
  Hyatts
• 11:17
  and
• 11:17
  the
• 11:17
  IHGs
• 11:18
  get
• 11:18
  into
• 11:18
  this
• 11:19
  space
• 11:19
  in
• 11:19
  some
• 11:19
  form
• 11:20
  or
• 11:20
  fashion,
• 11:20
  if
• 11:20
  that's
• 11:20
  RV
• 11:21
  sites.
• 11:21
  I
• 11:21
  don't
• 11:21
  know.
• 11:22
  I
• 11:22
  definitely
• 11:23
  think
• 11:23
  it's
• 11:23
  glamping
• 11:23
  and
• 11:23
  maybe
• 11:24
  Ruben
• 11:24
  can
• 11:24
  give
• 11:24
  his
• 11:24
  thoughts
• 11:25
  on
• 11:25
  that
• 11:25
  in
• 11:26
  some
• 11:26
  capacity.
• 11:26
  I
• 11:26
  think
• 11:26
  as
• 11:27
  soon
• 11:27
  as
• 11:27
  somebody
• 11:27
  figures
• 11:27
  out
• 11:28
  how
• 11:28
  to
• 11:28
  scale
• 11:28
  this
• 11:29
  in
• 11:29
  a
• 11:29
  way
• 11:29
  that
• 11:30
  makes
• 11:30
  sense
• 11:30
  for
• 11:30
  a
• 11:30
  hotel
• 11:31
  chain
• 11:31
  to
• 11:31
  do,
• 11:31
  because
• 11:32
  you
• 11:32
  obviously
• 11:32
  can't
• 11:32
  build
• 11:32
  up,
• 11:33
  then
• 11:34
  I
• 11:34
  think
• 11:34
  it's
• 11:34
  really
• 11:34
  going
• 11:34
  to
• 11:34
  take
• 11:35
  off
• 11:35
  and
• 11:35
  it's
• 11:35
  going
• 11:35
  to
• 11:35
  change
• 11:35
  our
• 11:36
  industry
• 11:37
  maybe
• 11:37
  for
• 11:37
  the
• 11:37
  better,
• 11:37
  maybe
• 11:37
  for
• 11:38
  the
• 11:38
  worse.
• 11:38
  I
• 11:38
  don't
• 11:38
  know
• 11:38
  yet.
• 11:40
  Ruben,
• 11:41
  you
• 11:41
  want
• 11:41
  to
• 11:41
  weigh
• 11:41
  in.
• 11:45
  Sure.
• 11:46
  The
• 11:46
  two
• 11:46
  consistent,
• 11:47
  at
• 11:47
  least
• 11:47
  specifically
• 11:48
  in
• 11:48
  a
• 11:48
  glamping
• 11:48
  space,
• 11:49
  the
• 11:49
  two
• 11:49
  hurdles
• 11:50
  are
• 11:50
  essentially
• 11:51
  permitting
• 11:51
  capital
• 11:52
  and
• 11:52
  there
• 11:53
  will
• 11:53
  be
• 11:53
  consolidation
• 11:54
  at
• 11:54
  the
• 11:55
  kind
• 11:55
  of
• 11:55
  entry
• 11:56
  level,
• 11:56
  the
• 11:56
  beginning
• 11:57
  to
• 11:57
  start
• 11:58
  or
• 11:58
  pack
• 11:58
  to
• 11:58
  mid-level
• 11:59
  glamping
• 11:59
  operators.
• 12:00
  You've
• 12:00
  got
• 12:01
  some
• 12:01
  of
• 12:01
  the
• 12:01
  larger
• 12:01
  operators.
• 12:02
  She
• 12:02
  called
• 12:02
  them
• 12:03
  the
• 12:03
  big
• 12:03
  four.
• 12:03
  I
• 12:03
  think,
• 12:03
  of
• 12:03
  the
• 12:04
  under
• 12:04
  canvas,
• 12:04
  the
• 12:04
  auto
• 12:05
  cam
• 12:05
  collective
• 12:05
  retreats.
• 12:06
  The
• 12:06
  Topia
• 12:07
  is
• 12:07
  of
• 12:07
  the
• 12:07
  world
• 12:08
  that
• 12:08
  will
• 12:08
  start
• 12:09
  to
• 12:09
  figure
• 12:09
  out
• 12:10
  how
• 12:10
  to
• 12:10
  do,
• 12:11
  how
• 12:11
  to
• 12:11
  move
• 12:12
  a
• 12:12
  little
• 12:12
  bit
• 12:12
  quicker
• 12:12
  and
• 12:12
  have
• 12:13
  these
• 12:13
  economies
• 12:13
  of
• 12:13
  scale.
• 12:14
  But
• 12:14
  the
• 12:14
  hotel
• 12:14
  has
• 12:14
  have
• 12:14
  been
• 12:15
  knocking
• 12:16
  at
• 12:16
  the
• 12:16
  door
• 12:16
  for
• 12:17
  quite
• 12:17
  some
• 12:17
  time
• 12:18
  at
• 12:18
  this
• 12:18
  and
• 12:19
  they've
• 12:19
  got
• 12:19
  the
• 12:19
  capital
• 12:20
  to
• 12:20
  do
• 12:20
  it.
• 12:20
  And
• 12:20
  they
• 12:20
  had
• 12:20
  a
• 12:21
  playbook
• 12:21
  going
• 12:21
  in
• 12:22
  pre
• 12:22
  pandemic
• 12:23
  and
• 12:23
  then
• 12:23
  pandemic
• 12:23
  hit,
• 12:23
  they
• 12:24
  had
• 12:24
  a
• 12:24
  bucket
• 12:25
  full
• 12:25
  of
• 12:25
  cash
• 12:25
  that
• 12:25
  they
• 12:25
  were
• 12:26
  looking
• 12:26
  to
• 12:26
  deploy.
• 12:26
  And
• 12:26
  then
• 12:27
  all
• 12:27
  of
• 12:27
  a
• 12:27
  sudden.
• 12:29
  And
• 12:29
  justify
• 12:29
  spending
• 12:30
  millions
• 12:31
  of
• 12:31
  dollars
• 12:31
  on
• 12:31
  a
• 12:31
  hotel
• 12:32
  anymore.
• 12:33
  And
• 12:33
  so
• 12:33
  I
• 12:34
  think
• 12:34
  the
• 12:34
  first
• 12:34
  entry
• 12:35
  for
• 12:35
  that
• 12:35
  asset
• 12:36
  class
• 12:36
  will
• 12:36
  be
• 12:36
  these
• 12:36
  defunct
• 12:37
  properties
• 12:38
  that
• 12:38
  they're
• 12:38
  looking
• 12:38
  to
• 12:40
  have
• 12:40
  a
• 12:40
  different
• 12:40
  revenue
• 12:41
  stream
• 12:41
  and
• 12:42
  it
• 12:42
  be
• 12:42
  collaboration
• 12:43
  of,
• 12:43
  Hey,
• 12:43
  I've
• 12:43
  got
• 12:43
  a
• 12:44
  hundred
• 12:44
  rooms,
• 12:45
  I've
• 12:45
  got
• 12:45
  also
• 12:46
  300
• 12:46
  acres
• 12:47
  and
• 12:47
  this
• 12:47
  revenue
• 12:48
  stream
• 12:48
  for
• 12:48
  the
• 12:49
  hotel,
• 12:49
  the
• 12:50
  key
• 12:50
  count
• 12:50
  doesn't
• 12:50
  make
• 12:51
  sense
• 12:51
  for
• 12:51
  us
• 12:51
  to
• 12:51
  put
• 12:51
  in
• 12:52
  X
• 12:52
  amount
• 12:52
  per
• 12:53
  key
• 12:53
  in
• 12:53
  the
• 12:53
  traditional
• 12:54
  hospitality
• 12:54
  sense,
• 12:55
  but
• 12:55
  I've
• 12:55
  got
• 12:55
  space.
• 12:56
  So
• 12:56
  I
• 12:57
  think
• 12:57
  that
• 12:57
  will
• 12:57
  be
• 12:57
  the
• 12:57
  first
• 12:58
  wall
• 12:59
  that
• 12:59
  gets
• 12:59
  knocked
• 12:59
  down.
• 13:00
  And
• 13:00
  then
• 13:00
  the
• 13:00
  second
• 13:01
  would
• 13:01
  be
• 13:01
  the
• 13:01
  Marriotts
• 13:02
  of
• 13:02
  the
• 13:02
  world
• 13:02
  and
• 13:03
  these
• 13:03
  other
• 13:03
  larger
• 13:04
  management
• 13:04
  companies
• 13:05
  that
• 13:05
  say,
• 13:05
  all
• 13:06
  right,
• 13:06
  of
• 13:06
  all
• 13:07
  these
• 13:07
  properties,
• 13:07
  let's
• 13:07
  take
• 13:08
  these
• 13:08
  10,
• 13:08
  we've
• 13:08
  got
• 13:09
  to
• 13:09
  shut
• 13:09
  them
• 13:09
  down.
• 13:10
  We're
• 13:10
  going
• 13:10
  to
• 13:11
  find
• 13:11
  another
• 13:12
  asset
• 13:12
  class
• 13:12
  that
• 13:13
  allows
• 13:13
  for
• 13:13
  us
• 13:13
  to
• 13:13
  have
• 13:13
  a
• 13:14
  quicker
• 13:14
  return
• 13:14
  a
• 13:15
  look
• 13:15
  towards
• 13:15
  the
• 13:15
  future.
• 13:16
  And
• 13:17
  we
• 13:17
  quickly
• 13:17
  on
• 13:18
  it
• 13:18
  and
• 13:18
  think
• 13:18
  about
• 13:18
  it
• 13:18
  that
• 13:19
  way.
• 13:19
  So
• 13:19
  I
• 13:19
  think
• 13:20
  we're,
• 13:20
  we're
• 13:21
  on
• 13:21
  the
• 13:21
  cusp.
• 13:22
  That
• 13:22
  happening
• 13:23
  a
• 13:24
  lot
• 13:24
  pre
• 13:24
  pandemic.
• 13:25
  And
• 13:25
  then,
• 13:25
  we're
• 13:26
  now
• 13:26
  operating
• 13:26
  in
• 13:26
  this
• 13:26
  world
• 13:27
  and
• 13:27
  they're
• 13:27
  still
• 13:27
  a
• 13:27
  little
• 13:27
  skiddish
• 13:28
  and
• 13:29
  they're
• 13:29
  still
• 13:29
  trying
• 13:30
  to
• 13:30
  figure
• 13:30
  it
• 13:31
  out.
• 13:31
  And
• 13:31
  for
• 13:31
  those
• 13:31
  groups,
• 13:32
  remember,
• 13:32
  they've
• 13:32
  got
• 13:32
  a
• 13:32
  lot
• 13:33
  of
• 13:33
  people
• 13:33
  to
• 13:34
  adhere
• 13:34
  to
• 13:34
  an
• 13:34
  answer
• 13:35
  to
• 13:35
  versus
• 13:35
  maybe
• 13:36
  one
• 13:36
  individual
• 13:36
  who's
• 13:37
  a
• 13:37
  higher
• 13:37
  net
• 13:37
  worth
• 13:38
  individual
• 13:38
  that
• 13:38
  could
• 13:38
  spend
• 13:39
  250
• 13:39
  million
• 13:39
  on
• 13:40
  a
• 13:40
  project
• 13:41
  they
• 13:41
  can't
• 13:41
  miss
• 13:42
  anymore.
• 13:42
  They've
• 13:43
  got
• 13:43
  to
• 13:43
  make
• 13:43
  sure
• 13:43
  that
• 13:43
  going
• 13:44
  into
• 13:44
  the
• 13:44
  development
• 13:44
  cycle,
• 13:45
  moving
• 13:45
  forward,
• 13:46
  that
• 13:46
  whatever
• 13:46
  they
• 13:46
  do,
• 13:47
  they
• 13:47
  can't
• 13:48
  miss.
• 13:48
  And
• 13:48
  if
• 13:48
  they're
• 13:49
  presenting
• 13:50
  safari
• 13:50
  tents
• 13:50
  and
• 13:51
  this
• 13:51
  newer
• 13:51
  experience,
• 13:53
  they've
• 13:53
  got
• 13:53
  a
• 13:53
  longer
• 13:53
  road
• 13:54
  sometimes,
• 13:54
  but
• 13:55
  I
• 13:55
  think
• 13:55
  we're
• 13:55
  on
• 13:55
  the
• 13:55
  verge.
• 13:56
  It's
• 13:56
  going
• 13:56
  to
• 13:56
  happen.
• 13:57
  When
• 13:57
  and
• 13:57
  how
• 13:57
  will
• 13:58
  be
• 13:58
  a
• 13:58
  very
• 13:58
  interesting.
• 13:59
  Development
• 14:00
  and
• 14:00
  who
• 14:00
  knows?
• 14:02
  I
• 14:02
  think
• 14:02
  sooner,
• 14:02
  rather
• 14:03
  than
• 14:03
  later
• 14:03
  though,
• 14:04
  and
• 14:04
  maybe
• 14:04
  I'm
• 14:04
  lagging.
• 14:05
  I
• 14:05
  didn't
• 14:05
  mean
• 14:05
  to
• 14:05
  talk
• 14:05
  over
• 14:05
  anybody.
• 14:06
  I'm
• 14:06
  sorry.
• 14:06
  Just
• 14:06
  my
• 14:06
  internet
• 14:07
  connection
• 14:07
  is
• 14:07
  poor,
• 14:07
  but
• 14:07
  I
• 14:08
  think
• 14:08
  sooner
• 14:08
  rather
• 14:08
  than
• 14:09
  later,
• 14:09
  especially
• 14:09
  now
• 14:10
  that
• 14:10
  they've
• 14:10
  seen,
• 14:11
  I
• 14:11
  don't
• 14:11
  think
• 14:11
  prior
• 14:11
  to
• 14:12
  COVID,
• 14:13
  there
• 14:13
  was
• 14:13
  a
• 14:13
  sense
• 14:13
  in
• 14:14
  any
• 14:14
  owner's
• 14:14
  mind
• 14:15
  of
• 14:15
  a
• 14:15
  hotel
• 14:15
  that,
• 14:16
  oh
• 14:16
  my
• 14:16
  God,
• 14:16
  my
• 14:16
  like
• 14:17
  all
• 14:17
  my
• 14:17
  business
• 14:18
  can
• 14:18
  be
• 14:18
  shut
• 14:19
  off
• 14:19
  instantly
• 14:19
  like
• 14:20
  that
• 14:20
  there
• 14:20
  were
• 14:20
  recessions,
• 14:21
  there
• 14:21
  were
• 14:21
  ups
• 14:21
  and
• 14:21
  downs.
• 14:22
  There
• 14:22
  was
• 14:22
  inflation,
• 14:23
  there
• 14:23
  was
• 14:23
  all
• 14:23
  kinds
• 14:24
  of
• 14:24
  other
• 14:24
  things
• 14:24
  like
• 14:24
  natural
• 14:25
  disasters.
• 14:25
  But
• 14:25
  I
• 14:25
  think
• 14:26
  that
• 14:26
  just
• 14:26
  put
• 14:26
  a
• 14:26
  whole
• 14:26
  new
• 14:26
  picture
• 14:27
  in
• 14:27
  people's
• 14:27
  heads
• 14:27
  of
• 14:28
  if,
• 14:28
  and
• 14:28
  it
• 14:28
  may
• 14:28
  be
• 14:28
  a
• 14:28
  need
• 14:29
  to
• 14:29
  pivot.
• 14:31
  I
• 14:31
  was
• 14:31
  just
• 14:31
  going
• 14:31
  to
• 14:31
  say
• 14:31
  the
• 14:32
  industries
• 14:32
  that
• 14:32
  we've
• 14:32
  seen
• 14:33
  picking
• 14:34
  up,
• 14:34
  that
• 14:34
  as
• 14:34
  far
• 14:35
  as
• 14:35
  having
• 14:36
  a
• 14:36
  lot
• 14:36
  of
• 14:36
  capital
• 14:37
  in
• 14:37
  and
• 14:38
  making
• 14:38
  a
• 14:38
  big
• 14:38
  push
• 14:39
  into
• 14:39
  this
• 14:39
  space
• 14:40
  has
• 14:40
  specifically
• 14:40
  been
• 14:41
  like
• 14:41
  the
• 14:41
  storage
• 14:41
  space
• 14:42
  and
• 14:43
  obviously
• 14:43
  like
• 14:44
  the
• 14:44
  mobile
• 14:44
  home
• 14:44
  space.
• 14:45
  So
• 14:45
  we
• 14:45
  see.
• 14:46
  A
• 14:46
  lot
• 14:46
  of
• 14:46
  large
• 14:47
  companies
• 14:47
  that
• 14:48
  do
• 14:48
  really
• 14:48
  well
• 14:49
  in
• 14:49
  storage
• 14:49
  and
• 14:50
  in,
• 14:50
  in
• 14:50
  mobile
• 14:50
  homes
• 14:51
  generally
• 14:51
  really
• 14:52
  coming
• 14:52
  into
• 14:52
  this
• 14:52
  space
• 14:53
  pretty
• 14:53
  aggressively.
• 14:54
  And
• 14:54
  I
• 14:54
  almost
• 14:55
  feel
• 14:55
  like
• 14:55
  they're
• 14:55
  better
• 14:55
  equipped
• 14:56
  to
• 14:56
  come
• 14:56
  into
• 14:56
  this
• 14:57
  space.
• 14:57
  Just
• 14:57
  understanding
• 14:58
  maybe
• 14:59
  a
• 14:59
  little
• 14:59
  bit
• 14:59
  more
• 15:00
  potentially
• 15:01
  that
• 15:01
  of
• 15:01
  the
• 15:01
  industry.
• 15:02
  Then
• 15:03
  I
• 15:03
  shouldn't
• 15:03
  say
• 15:03
  a
• 15:04
  lot
• 15:04
  more,
• 15:04
  but
• 15:04
  in
• 15:05
  some
• 15:05
  capacity,
• 15:05
  I
• 15:05
  think
• 15:05
  they
• 15:06
  understand
• 15:06
  a
• 15:06
  little
• 15:06
  bit
• 15:06
  more.
• 15:07
  And
• 15:07
  that's
• 15:07
  definitely
• 15:07
  we've
• 15:08
  seen
• 15:08
  that
• 15:08
  significantly
• 15:09
  with
• 15:09
  like
• 15:10
  larger
• 15:10
  groups
• 15:10
  that
• 15:11
  we've
• 15:11
  worked
• 15:12
  with
• 15:12
  that
• 15:12
  are
• 15:12
  starting
• 15:12
  to
• 15:12
  buy
• 15:13
  properties
• 15:14
  specifically
• 15:14
  coming
• 15:14
  from
• 15:15
  those
• 15:15
  two
• 15:15
  areas.
• 15:16
  But
• 15:16
  it'll
• 15:16
  be
• 15:16
  interesting
• 15:17
  to
• 15:17
  keep
• 15:17
  an
• 15:17
  eye
• 15:17
  on
• 15:17
  if
• 15:17
  the
• 15:18
  hotel
• 15:18
  space,
• 15:19
  makes
• 15:19
  a
• 15:19
  big
• 15:19
  play
• 15:19
  for
• 15:20
  that.
• 15:22
  What
• 15:22
  are
• 15:22
  you,
• 15:22
  what
• 15:22
  does
• 15:22
  this
• 15:23
  look
• 15:23
  like
• 15:23
  from
• 15:23
  your
• 15:23
  perspective,
• 15:24
  Scott?
• 15:24
  And
• 15:24
  I
• 15:24
  know
• 15:24
  I'm
• 15:25
  putting
• 15:25
  you
• 15:25
  on
• 15:25
  the
• 15:25
  spot,
• 15:25
  but
• 15:25
  you
• 15:25
  run
• 15:26
  the
• 15:26
  management
• 15:27
  company.
• 15:28
  And
• 15:28
  for
• 15:28
  those
• 15:29
  of
• 15:29
  you
• 15:29
  who
• 15:29
  don't
• 15:29
  know,
• 15:29
  like
• 15:30
  the
• 15:30
  way
• 15:30
  the
• 15:30
  hotel,
• 15:31
  a
• 15:31
  lot
• 15:31
  of
• 15:31
  the
• 15:31
  hotels
• 15:31
  function
• 15:32
  now
• 15:32
  is
• 15:32
  you'll
• 15:32
  go
• 15:32
  to
• 15:32
  a
• 15:32
  city
• 15:33
  like
• 15:33
  Chicago
• 15:33
  or
• 15:33
  New
• 15:34
  York
• 15:34
  or
• 15:34
  Pennsylvania
• 15:34
  or
• 15:35
  Philadelphia
• 15:35
  or
• 15:35
  whatever.
• 15:36
  And
• 15:36
  you'll
• 15:36
  go
• 15:36
  in
• 15:36
  and
• 15:36
  you'll
• 15:37
  see
• 15:37
  a
• 15:37
  management
• 15:38
  group
• 15:38
  that
• 15:38
  either
• 15:39
  has
• 15:39
  shared
• 15:39
  ownership
• 15:40
  or
• 15:40
  is
• 15:40
  hired
• 15:41
  specifically
• 15:41
  by
• 15:41
  the
• 15:42
  owners,
• 15:42
  but
• 15:42
  they'll
• 15:42
  manage
• 15:43
  seven
• 15:43
  or
• 15:43
  eight
• 15:43
  or
• 15:43
  10
• 15:44
  or
• 15:44
  15
• 15:44
  properties
• 15:45
  all
• 15:45
  within
• 15:45
  that
• 15:45
  same
• 15:46
  Metro
• 15:46
  area.
• 15:47
  So
• 15:47
  how
• 15:47
  does
• 15:47
  this,
• 15:48
  if
• 15:48
  at
• 15:48
  all
• 15:48
  changed
• 15:49
  the
• 15:49
  game
• 15:49
  for
• 15:49
  you,
• 15:49
  Scott,
• 15:50
  if
• 15:50
  this
• 15:50
  starts,
• 15:50
  this
• 15:50
  consolidation,
• 15:51
  not
• 15:51
  just
• 15:51
  from
• 15:52
  hotels,
• 15:52
  but
• 15:52
  if
• 15:52
  anything
• 15:53
  continues
• 15:54
  to
• 15:54
  happen,
• 15:55
  Yeah,
• 15:56
  I
• 15:56
  think
• 15:56
  we
• 15:56
  will
• 15:57
  continue
• 15:57
  to
• 15:57
  see
• 15:58
  hotel
• 15:59
  operators
• 16:00
  get
• 16:00
  into
• 16:00
  the
• 16:00
  space
• 16:01
  and,
• 16:01
  hotel,
• 16:01
  investment
• 16:02
  companies
• 16:02
  getting
• 16:02
  to
• 16:02
  the
• 16:02
  space.
• 16:03
  We
• 16:03
  have
• 16:03
  one
• 16:04
  client
• 16:04
  that
• 16:04
  owns
• 16:05
  several
• 16:06
  boutique,
• 16:07
  higher
• 16:07
  end
• 16:07
  boutique
• 16:07
  hotels
• 16:08
  in
• 16:08
  the
• 16:08
  Pacific
• 16:08
  Northwest.
• 16:10
  And
• 16:10
  they
• 16:10
  had
• 16:11
  started
• 16:11
  a
• 16:11
  property.
• 16:12
  We
• 16:12
  manage
• 16:13
  prior
• 16:13
  to
• 16:13
  COVID
• 16:13
  and
• 16:14
  saw
• 16:14
  how
• 16:14
  well
• 16:15
  the
• 16:15
  property
• 16:15
  we
• 16:15
  manage
• 16:16
  performed
• 16:16
  compared
• 16:17
  to
• 16:17
  the
• 16:17
  hotels.
• 16:18
  And
• 16:18
  they're
• 16:19
  all
• 16:19
  in
• 16:19
  looking
• 16:19
  for
• 16:20
  the
• 16:20
  next
• 16:20
  locations
• 16:21
  to
• 16:21
  develop
• 16:22
  the
• 16:22
  next
• 16:22
  outdoor
• 16:22
  hospitality
• 16:23
  properties.
• 16:24
  I
• 16:24
  think
• 16:24
  what
• 16:25
  will
• 16:25
  be
• 16:25
  interesting
• 16:26
  to
• 16:26
  see
• 16:26
  is
• 16:26
  how,
• 16:27
  we
• 16:27
  have
• 16:28
  one
• 16:28
  reason
• 16:29
  why
• 16:29
  glamping
• 16:29
  and
• 16:29
  outdoor
• 16:30
  hospitality
• 16:30
  is
• 16:30
  so
• 16:31
  successful
• 16:32
  is
• 16:32
  it's
• 16:33
  not
• 16:33
  a
• 16:33
  brand.
• 16:33
  It's
• 16:34
  not
• 16:34
  the
• 16:34
  Marriott,
• 16:35
  it's
• 16:35
  not
• 16:35
  the
• 16:35
  hill.
• 16:36
  And
• 16:36
  people
• 16:36
  are
• 16:36
  tired
• 16:37
  of
• 16:37
  staying
• 16:37
  at
• 16:37
  Hampton
• 16:38
  Inns
• 16:38
  and,
• 16:38
  they're
• 16:38
  fine.
• 16:39
  I
• 16:39
  stayed
• 16:40
  in
• 16:40
  many,
• 16:40
  one
• 16:40
  of
• 16:40
  my,
• 16:40
  when
• 16:40
  I
• 16:40
  traveled
• 16:41
  by
• 16:41
  necessity,
• 16:41
  but
• 16:42
  How
• 16:42
  these,
• 16:43
  and
• 16:43
  they'll
• 16:43
  do
• 16:43
  it.
• 16:44
  They'll
• 16:44
  how
• 16:44
  these
• 16:45
  operators
• 16:45
  and
• 16:46
  investment
• 16:46
  companies
• 16:47
  can
• 16:47
  reinvent
• 16:48
  brands
• 16:48
  and
• 16:48
  create
• 16:49
  new
• 16:49
  brands
• 16:49
  and
• 16:49
  new
• 16:50
  segments,
• 16:50
  but
• 16:51
  apply
• 16:51
  a
• 16:51
  lot
• 16:51
  of
• 16:51
  the
• 16:52
  operational
• 16:52
  strategies
• 16:53
  and
• 16:53
  know
• 16:53
  how
• 16:53
  that
• 16:54
  they
• 16:54
  have
• 16:54
  from
• 16:55
  their
• 16:55
  traditional
• 16:55
  hospitality
• 16:56
  products
• 16:57
  into
• 16:57
  this
• 16:57
  space
• 16:57
  will
• 16:58
  be
• 16:58
  very
• 16:58
  successful.
• 16:59
  But
• 16:59
  I
• 16:59
  can
• 17:00
  also
• 17:00
  tell
• 17:00
  you
• 17:00
  that
• 17:01
  from
• 17:01
  some
• 17:01
  of
• 17:01
  the
• 17:01
  conversations
• 17:02
  we've
• 17:02
  had
• 17:02
  with
• 17:03
  some
• 17:03
  of
• 17:03
  these
• 17:03
  groups
• 17:03
  is
• 17:04
  they're
• 17:04
  really
• 17:05
  scared
• 17:05
  by
• 17:05
  the
• 17:05
  industry
• 17:06
  so
• 17:06
  far.
• 17:07
  It's
• 17:07
  just
• 17:07
  unsophisticated,
• 17:08
  there's
• 17:09
  a
• 17:09
  lot
• 17:09
  of
• 17:09
  potential,
• 17:10
  but
• 17:10
  as
• 17:10
  Ruben
• 17:11
  hit
• 17:11
  there's
• 17:11
  some
• 17:11
  barriers
• 17:12
  to
• 17:12
  entry
• 17:13
  that
• 17:13
  that
• 17:13
  really,
• 17:14
  they
• 17:14
  don't
• 17:14
  quite
• 17:15
  know
• 17:15
  how
• 17:15
  to
• 17:15
  tap
• 17:16
  into
• 17:16
  and
• 17:17
  tackle
• 17:17
  just
• 17:17
  yet,
• 17:18
  but
• 17:18
  they're
• 17:18
  right
• 17:18
  there.
• 17:19
  And
• 17:19
  they'll
• 17:19
  figure
• 17:20
  it
• 17:20
  out
• 17:20
  how
• 17:20
  to
• 17:21
  do
• 17:21
  but
• 17:21
  I
• 17:21
  think
• 17:21
  as
• 17:22
  Randy
• 17:22
  mentioned
• 17:22
  earlier,
• 17:23
  continuing
• 17:23
  to
• 17:23
  focus
• 17:24
  on
• 17:24
  the
• 17:24
  guest
• 17:24
  experience.
• 17:25
  I
• 17:25
  think
• 17:25
  that
• 17:26
  these
• 17:26
  glamping
• 17:26
  or
• 17:26
  these
• 17:27
  hotel
• 17:27
  companies
• 17:27
  that
• 17:28
  can
• 17:28
  get
• 17:28
  into
• 17:28
  the
• 17:28
  glamping
• 17:28
  space
• 17:29
  can
• 17:29
  do
• 17:29
  that
• 17:29
  really
• 17:29
  well.
• 17:30
  That's
• 17:30
  going
• 17:30
  to
• 17:30
  be
• 17:31
  what
• 17:31
  will
• 17:31
  help
• 17:31
  to
• 17:31
  set
• 17:32
  them
• 17:32
  apart,
• 17:33
  but
• 17:33
  they
• 17:33
  do
• 17:33
  have
• 17:34
  some
• 17:34
  catching
• 17:34
  up
• 17:34
  to
• 17:35
  do
• 17:35
  the
• 17:35
  big
• 17:35
  four.
• 17:36
  And
• 17:36
  I
• 17:36
  think
• 17:36
  this
• 17:36
  affects
• 17:36
  glamping
• 17:37
  certainly
• 17:37
  more
• 17:38
  than
• 17:38
  RV
• 17:38
  at
• 17:39
  this
• 17:39
  point.
• 17:40
  And
• 17:40
  Reuben,
• 17:40
  you
• 17:40
  might
• 17:40
  know
• 17:40
  this
• 17:41
  better
• 17:41
  than
• 17:41
  I,
• 17:41
  but
• 17:42
  isn't
• 17:42
  there
• 17:42
  a,
• 17:43
  I
• 17:43
  believe
• 17:43
  that
• 17:44
  maybe
• 17:44
  four
• 17:44
  seasons
• 17:45
  or
• 17:46
  one
• 17:46
  of
• 17:46
  the
• 17:46
  other
• 17:46
  higher
• 17:47
  end
• 17:47
  hotel
• 17:48
  companies
• 17:48
  have
• 17:49
  entered
• 17:49
  into
• 17:49
  the
• 17:49
  glamping
• 17:50
  space
• 17:50
  already
• 17:51
  on
• 17:51
  a
• 17:51
  small
• 17:52
  scale.
• 17:52
  So
• 17:52
  they're
• 17:53
  starting
• 17:53
  to
• 17:53
  get
• 17:54
  into
• 17:54
  the
• 17:54
  industry,
• 17:56
  never
• 17:56
  seen
• 17:56
  it
• 17:56
  definitely
• 17:57
  on
• 17:57
  the
• 17:58
  private
• 17:58
  equity
• 17:59
  side
• 17:59
  of
• 17:59
  it
• 17:59
  and
• 17:59
  keeping
• 18:00
  it
• 18:00
  a
• 18:00
  little
• 18:01
  bit
• 18:01
  arms
• 18:01
  length
• 18:02
  with
• 18:02
  their
• 18:02
  portfolio
• 18:03
  hospitality
• 18:03
  companies.
• 18:05
  For
• 18:05
  that
• 18:05
  reason
• 18:05
  of
• 18:05
  the
• 18:05
  barrier
• 18:06
  of
• 18:06
  entry.
• 18:06
  I
• 18:06
  think
• 18:06
  the
• 18:07
  easiest
• 18:07
  analogy
• 18:07
  is
• 18:08
  almost
• 18:08
  because
• 18:09
  lamping
• 18:09
  and
• 18:09
  outdoor
• 18:10
  hospitality
• 18:10
  is
• 18:10
  still
• 18:10
  nascent
• 18:11
  compared
• 18:11
  to
• 18:11
  the
• 18:11
  hotel.
• 18:13
  Obviously
• 18:14
  it's
• 18:14
  the
• 18:14
  whole
• 18:14
  mining
• 18:15
  for
• 18:15
  gold
• 18:16
  analogy
• 18:16
  and
• 18:17
  where
• 18:17
  the
• 18:18
  hotels
• 18:18
  I
• 18:18
  think
• 18:18
  are
• 18:18
  still
• 18:19
  looking
• 18:19
  and
• 18:20
  those,
• 18:20
  the
• 18:20
  money
• 18:20
  that's
• 18:20
  actually
• 18:21
  backing
• 18:21
  it
• 18:22
  is
• 18:22
  still
• 18:22
  looking
• 18:23
  at
• 18:23
  like,
• 18:24
  all
• 18:24
  right,
• 18:24
  we
• 18:24
  don't
• 18:25
  necessarily
• 18:26
  going
• 18:26
  out
• 18:26
  there
• 18:26
  mining
• 18:26
  for
• 18:27
  gold.
• 18:27
  Not
• 18:27
  necessarily
• 18:28
  that
• 18:28
  they
• 18:28
  want
• 18:28
  to
• 18:28
  sell
• 18:28
  the
• 18:28
  pickaxes
• 18:29
  and
• 18:29
  the
• 18:29
  pans
• 18:30
  to
• 18:30
  gold
• 18:30
  or
• 18:31
  anything,
• 18:31
  but
• 18:31
  they're
• 18:31
  just
• 18:31
  waiting
• 18:32
  and
• 18:32
  saying,
• 18:32
  all
• 18:32
  right,
• 18:33
  you
• 18:33
  guys
• 18:33
  go
• 18:33
  out
• 18:33
  there,
• 18:33
  you
• 18:34
  guys
• 18:34
  mind,
• 18:34
  and
• 18:35
  then
• 18:35
  we'll
• 18:35
  see
• 18:35
  what
• 18:35
  you
• 18:35
  guys
• 18:36
  uncover.
• 18:36
  And
• 18:37
  then
• 18:37
  we'll
• 18:37
  have
• 18:37
  the
• 18:37
  money
• 18:38
  at
• 18:38
  the
• 18:38
  end
• 18:38
  of
• 18:38
  the
• 18:38
  day
• 18:39
  to
• 18:39
  wrap
• 18:39
  everybody
• 18:39
  together.
• 18:40
  But
• 18:40
  they're
• 18:40
  still
• 18:40
  trying
• 18:41
  to
• 18:41
  see
• 18:42
  what's
• 18:42
  out
• 18:42
  there.
• 18:42
  They
• 18:42
  just
• 18:43
  don't
• 18:43
  for
• 18:43
  them.
• 18:44
  Remember,
• 18:44
  it's
• 18:44
  always,
• 18:45
  it's
• 18:45
  easier
• 18:45
  for
• 18:46
  them
• 18:46
  to
• 18:46
  move
• 18:48
  the
• 18:48
  millions
• 18:48
  of
• 18:49
  dollars
• 18:49
  versus
• 18:49
  $50
• 18:50
  million.
• 18:51
  They're
• 18:51
  waiting
• 18:51
  for
• 18:52
  it
• 18:52
  to
• 18:52
  get
• 18:52
  a
• 18:52
  little
• 18:52
  bit
• 18:53
  bigger
• 18:53
  or
• 18:53
  for
• 18:54
  them
• 18:54
  to
• 18:54
  just
• 18:54
  do
• 18:54
  a
• 18:54
  larger
• 18:55
  and
• 18:55
  then
• 18:55
  consolidation.
• 18:57
  And
• 18:57
  they're
• 18:57
  just,
• 18:57
  they
• 18:57
  don't
• 18:57
  really
• 18:58
  have
• 18:58
  the
• 18:59
  appetite
• 18:59
  or
• 18:59
  the
• 18:59
  resources
• 19:00
  to
• 19:01
  start
• 19:01
  mining
• 19:01
  for
• 19:02
  that
• 19:02
  goal
• 19:02
  to.
• 19:05
  So
• 19:05
  how
• 19:05
  do
• 19:05
  they
• 19:05
  take
• 19:06
  this?
• 19:06
  And
• 19:06
  this
• 19:06
  is
• 19:06
  maybe
• 19:06
  a
• 19:06
  question
• 19:07
  for
• 19:07
  Randy
• 19:07
  dealing
• 19:08
  with
• 19:08
  real
• 19:08
  estate
• 19:08
  and
• 19:08
  stuff
• 19:09
  like
• 19:09
  that.
• 19:09
  Randy,
• 19:09
  how
• 19:09
  do
• 19:09
  they
• 19:10
  take
• 19:10
  this
• 19:10
  and
• 19:11
  value
• 19:11
  properties
• 19:12
  either
• 19:12
  the
• 19:12
  same
• 19:12
  differently?
• 19:13
  Does
• 19:14
  it
• 19:14
  change
• 19:14
  their
• 19:14
  perception
• 19:15
  when
• 19:15
  they're
• 19:15
  looking
• 19:15
  at
• 19:15
  margins
• 19:16
  and
• 19:16
  ROI
• 19:17
  and
• 19:17
  all
• 19:18
  the
• 19:18
  other
• 19:18
  real
• 19:18
  estate
• 19:18
  terms
• 19:19
  that
• 19:19
  I'll
• 19:19
  just
• 19:19
  butcher
• 19:19
  it?
• 19:19
  If
• 19:19
  I
• 19:19
  try
• 19:20
  to
• 19:20
  attempt
• 19:20
  to
• 19:20
  say
• 19:20
  so
• 19:20
  I'll
• 19:21
  just
• 19:21
  turn
• 19:21
  it
• 19:21
  over
• 19:21
  to
• 19:21
  you.
• 19:21
  The
• 19:22
  funny
• 19:22
  thing
• 19:22
  is
• 19:23
  the,
• 19:25
  excuse
• 19:25
  me,
• 19:25
  the
• 19:25
  rules
• 19:26
  in
• 19:26
  the
• 19:26
  matrices
• 19:27
  for
• 19:27
  evaluating
• 19:27
  opportunities
• 19:28
  has
• 19:28
  changed
• 19:29
  appreciably.
• 19:29
  So
• 19:30
  a
• 19:30
  few
• 19:30
  years
• 19:30
  ago,
• 19:31
  everybody
• 19:31
  talked
• 19:31
  about
• 19:31
  cap
• 19:32
  rate
• 19:32
  cap.
• 19:33
  And
• 19:33
  that's
• 19:33
  not
• 19:34
  necessarily
• 19:34
  the
• 19:34
  way
• 19:35
  that
• 19:35
  things
• 19:35
  are
• 19:35
  being
• 19:35
  looked
• 19:36
  at
• 19:36
  these
• 19:36
  days.
• 19:36
  It's
• 19:37
  more
• 19:37
  what
• 19:37
  will
• 19:37
  it
• 19:37
  be
• 19:38
  when
• 19:38
  it
• 19:38
  becomes
• 19:38
  what
• 19:38
  it's
• 19:39
  supposed
• 19:39
  to
• 19:39
  be?
• 19:39
  Or
• 19:40
  when
• 19:40
  I
• 19:40
  put
• 19:40
  my
• 19:40
  vision
• 19:41
  on
• 19:41
  this.
• 19:41
  So
• 19:41
  when
• 19:41
  they're
• 19:41
  looking
• 19:42
  at
• 19:42
  an
• 19:43
  existing
• 19:43
  property
• 19:44
  or
• 19:44
  raw
• 19:44
  land,
• 19:45
  they're
• 19:45
  looking
• 19:45
  at
• 19:45
  what
• 19:46
  the
• 19:46
  end
• 19:46
  game
• 19:46
  is
• 19:46
  going
• 19:47
  to
• 19:47
  be
• 19:47
  recognizing
• 19:48
  the
• 19:48
  return
• 19:48
  hurdles
• 19:49
  are
• 19:49
  going
• 19:49
  to
• 19:49
  be
• 19:49
  further
• 19:50
  out
• 19:50
  than
• 19:50
  just
• 19:50
  buying
• 19:51
  something,
• 19:51
  having
• 19:51
  immediate
• 19:52
  cash
• 19:52
  flow
• 19:52
  today,
• 19:53
  they're
• 19:53
  looking
• 19:53
  at
• 19:53
  what
• 19:54
  does
• 19:54
  this
• 19:54
  look
• 19:54
  like
• 19:54
  when
• 19:55
  I've
• 19:55
  imprinted
• 19:56
  myself
• 19:56
  on
• 19:56
  this
• 19:57
  and
• 19:57
  made
• 19:57
  it
• 19:57
  the
• 19:57
  kind
• 19:57
  of
• 19:57
  property
• 19:58
  it's
• 19:58
  supposed
• 19:58
  to
• 19:58
  be?
• 19:59
  So
• 19:59
  the
• 19:59
  event
• 19:59
  horizons
• 20:00
  get
• 20:00
  pushed
• 20:01
  out
• 20:01
  quite
• 20:01
  a
• 20:01
  bit
• 20:01
  further
• 20:02
  for
• 20:02
  their
• 20:03
  anticipated
• 20:03
  returns.
• 20:04
  And
• 20:05
  also
• 20:05
  to
• 20:05
  Casey's
• 20:06
  point,
• 20:06
  we're
• 20:06
  seeing
• 20:07
  that
• 20:07
  along
• 20:07
  the
• 20:07
  brokerage
• 20:08
  side,
• 20:08
  self
• 20:08
  storage
• 20:09
  and
• 20:09
  mobile
• 20:09
  home,
• 20:10
  because
• 20:10
  the
• 20:10
  cap
• 20:11
  rates
• 20:11
  are
• 20:11
  quite
• 20:11
  a
• 20:11
  bit
• 20:11
  more
• 20:12
  compressed
• 20:12
  in
• 20:12
  those
• 20:13
  asset
• 20:13
  classes
• 20:14
  than
• 20:14
  RV.
• 20:15
  They
• 20:15
  get
• 20:15
  excited
• 20:15
  about
• 20:16
  RV,
• 20:16
  but
• 20:16
  the
• 20:16
  problem
• 20:17
  with
• 20:17
  RV
• 20:17
  is
• 20:18
  you've
• 20:18
  got
• 20:18
  the
• 20:18
  big
• 20:18
  seasonal
• 20:19
  fluctuations
• 20:20
  and
• 20:20
  the
• 20:21
  blessing
• 20:21
  is
• 20:21
  the
• 20:21
  curse.
• 20:22
  You
• 20:22
  get
• 20:22
  higher
• 20:22
  rates,
• 20:23
  higher
• 20:23
  returns,
• 20:23
  but
• 20:24
  you
• 20:24
  also
• 20:24
  get
• 20:24
  big
• 20:24
  fluctuations
• 20:25
  that
• 20:26
  you
• 20:26
  don't
• 20:26
  see
• 20:26
  in
• 20:26
  storage.
• 20:27
  And
• 20:27
  you
• 20:27
  don't
• 20:28
  see
• 20:28
  in
• 20:28
  mobile
• 20:28
  home
• 20:29
  either.
• 20:29
  So
• 20:30
  I
• 20:30
  think
• 20:31
  to
• 20:31
  everybody's
• 20:31
  point,
• 20:31
  there
• 20:32
  was
• 20:32
  a
• 20:32
  huge
• 20:32
  learning
• 20:32
  curve,
• 20:33
  no
• 20:33
  matter
• 20:33
  how
• 20:33
  smart
• 20:34
  you
• 20:34
  are
• 20:34
  and
• 20:34
  what
• 20:34
  money
• 20:34
  you've
• 20:35
  got
• 20:35
  and
• 20:35
  what
• 20:35
  your
• 20:35
  game
• 20:36
  plan
• 20:36
  is
• 20:36
  for
• 20:36
  the
• 20:36
  future.
• 20:37
  You've,
• 20:38
  there's
• 20:38
  this
• 20:39
  period
• 20:39
  of
• 20:39
  trying
• 20:39
  to
• 20:39
  figure
• 20:40
  out,
• 20:40
  okay,
• 20:40
  what's,
• 20:41
  it's
• 20:41
  volatile.
• 20:41
  It's
• 20:42
  taking
• 20:42
  off
• 20:42
  like
• 20:42
  crazy.
• 20:43
  There's
• 20:43
  huge
• 20:43
  returns
• 20:44
  available.
• 20:45
  Do
• 20:45
  I
• 20:45
  know
• 20:45
  enough
• 20:46
  to
• 20:46
  make
• 20:46
  a
• 20:46
  stand
• 20:46
  yet?
• 20:47
  I
• 20:47
  think
• 20:47
  everybody's
• 20:48
  born.
• 20:48
  I
• 20:48
  think
• 20:48
  Ruben,
• 20:48
  you
• 20:49
  were
• 20:49
  saying
• 20:49
  the
• 20:49
  same
• 20:49
  thing.
• 20:50
  Here's
• 20:50
  this
• 20:51
  capital
• 20:51
  and
• 20:51
  we
• 20:52
  know
• 20:52
  we
• 20:52
  want
• 20:52
  to
• 20:52
  be
• 20:52
  there,
• 20:53
  but
• 20:53
  I
• 20:53
  don't
• 20:53
  know
• 20:53
  if
• 20:53
  I
• 20:53
  know
• 20:54
  it
• 20:54
  enough
• 20:54
  yet
• 20:54
  to
• 20:54
  deploy
• 20:56
  and
• 20:56
  really
• 20:56
  take
• 20:56
  a
• 20:56
  firm
• 20:57
  position.
• 20:57
  However,
• 20:58
  I
• 20:58
  do
• 20:58
  think
• 20:59
  that
• 20:59
  window's
• 20:59
  going
• 20:59
  to
• 20:59
  be
• 21:00
  compressed
• 21:00
  quite
• 21:00
  a
• 21:00
  bit.
• 21:01
  And
• 21:01
  I
• 21:01
  think
• 21:01
  we'll
• 21:01
  see
• 21:02
  a
• 21:02
  splash
• 21:02
  by
• 21:02
  somebody
• 21:03
  probably
• 21:04
  this
• 21:04
  year,
• 21:05
  give
• 21:05
  me
• 21:05
  not
• 21:05
  be
• 21:05
  a
• 21:06
  40
• 21:06
  property
• 21:07
  roll-up
• 21:07
  or
• 21:07
  something
• 21:08
  like
• 21:08
  that,
• 21:08
  but
• 21:09
  it
• 21:09
  might
• 21:09
  be
• 21:09
  somebody
• 21:09
  sticking
• 21:10
  their
• 21:10
  flag
• 21:10
  in
• 21:11
  the
• 21:11
  ground
• 21:11
  and
• 21:11
  whatever
• 21:11
  chain
• 21:12
  that
• 21:12
  might
• 21:12
  be
• 21:12
  a
• 21:13
  know,
• 21:13
  but
• 21:13
  not
• 21:14
  predicting
• 21:14
  it,
• 21:14
  but
• 21:14
  it
• 21:15
  wouldn't
• 21:15
  surprise
• 21:15
  me
• 21:15
  a
• 21:16
  bit
• 21:16
  because
• 21:16
  when
• 21:16
  there's
• 21:17
  opportunity,
• 21:17
  cash
• 21:18
  follows
• 21:19
  and
• 21:19
  there's
• 21:19
  opportunity
• 21:20
  here,
• 21:21
  but
• 21:21
  are
• 21:21
  we
• 21:21
  smart
• 21:22
  enough?
• 21:22
  And
• 21:22
  do
• 21:22
  we
• 21:22
  know
• 21:22
  enough?
• 21:24
  The
• 21:24
  smart
• 21:24
  ones
• 21:24
  are
• 21:24
  realizing
• 21:25
  we
• 21:25
  maybe
• 21:25
  we
• 21:25
  don't
• 21:26
  know
• 21:26
  what
• 21:26
  we
• 21:26
  don't
• 21:26
  know.
• 21:27
  It's
• 21:27
  the
• 21:27
  ones
• 21:28
  who
• 21:28
  think
• 21:28
  we've
• 21:28
  got
• 21:28
  it
• 21:28
  all
• 21:29
  figured
• 21:29
  out
• 21:29
  and
• 21:29
  we're
• 21:29
  smarter
• 21:30
  than
• 21:30
  the
• 21:30
  other
• 21:30
  guys
• 21:31
  that
• 21:31
  often
• 21:31
  make
• 21:31
  the
• 21:31
  very
• 21:32
  biggest
• 21:32
  mistakes.
• 21:35
  Not.
• 21:36
  Not
• 21:36
  to
• 21:36
  interject
• 21:37
  Randy,
• 21:37
  but
• 21:37
  I
• 21:37
  think
• 21:37
  you,
• 21:38
  you
• 21:38
  brought
• 21:38
  up
• 21:38
  a
• 21:38
  great
• 21:38
  point
• 21:39
  about
• 21:39
  maybe
• 21:40
  these
• 21:41
  brands
• 21:41
  that
• 21:41
  have
• 21:42
  been
• 21:42
  historically
• 21:43
  in
• 21:43
  the
• 21:43
  hotel
• 21:43
  space,
• 21:44
  which
• 21:44
  ones
• 21:44
  make
• 21:44
  sense
• 21:45
  to
• 21:45
  move
• 21:45
  maybe
• 21:46
  into
• 21:46
  the
• 21:46
  RV
• 21:46
  space
• 21:47
  as
• 21:47
  well.
• 21:47
  And
• 21:47
  we're
• 21:47
  seeing
• 21:48
  that
• 21:48
  with
• 21:48
  Margaritaville,
• 21:49
  margaritaville,
• 21:50
  with
• 21:50
  a
• 21:50
  couple
• 21:50
  of
• 21:50
  locations
• 21:51
  already
• 21:51
  opened
• 21:52
  they've,
• 21:52
  I
• 21:52
  think
• 21:53
  their
• 21:53
  brand
• 21:53
  is
• 21:54
  relatively
• 21:54
  new
• 21:54
  even
• 21:55
  in
• 21:55
  the
• 21:55
  hotel
• 21:55
  space
• 21:56
  within
• 21:56
  the
• 21:56
  last
• 21:56
  10
• 21:56
  years.
• 21:57
  And
• 21:57
  they're
• 21:57
  certainly
• 21:58
  picking
• 21:58
  up
• 21:58
  speed
• 21:59
  too.
• 21:59
  So
• 21:59
  we're
• 21:59
  already
• 21:59
  seeing
• 22:00
  this
• 22:00
  kind
• 22:00
  of
• 22:00
  cross-pollination
• 22:01
  between
• 22:02
  between,
• 22:02
  even
• 22:02
  with
• 22:03
  the
• 22:03
  same
• 22:03
  brand,
• 22:03
  which
• 22:04
  is
• 22:04
  interesting.
• 22:04
  And
• 22:04
  maybe
• 22:04
  that
• 22:05
  one's
• 22:05
  a
• 22:05
  little
• 22:05
  bit
• 22:05
  unique
• 22:06
  because
• 22:06
  it
• 22:06
  plays
• 22:07
  very
• 22:07
  well
• 22:07
  into
• 22:08
  the
• 22:08
  demographic,
• 22:09
  but
• 22:09
  they're
• 22:09
  going
• 22:09
  after
• 22:10
  the
• 22:10
  RV
• 22:10
  space.
• 22:13
  Yeah,
• 22:13
  I
• 22:13
  think
• 22:14
  so.
• 22:14
  There's
• 22:14
  another
• 22:15
  thing
• 22:15
  too,
• 22:15
  that
• 22:15
  kind
• 22:16
  of
• 22:16
  fits
• 22:16
  into
• 22:17
  it.
• 22:17
  Everybody
• 22:17
  knows
• 22:18
  sticks
• 22:18
  and
• 22:18
  bricks.
• 22:19
  Everybody
• 22:19
  knows
• 22:19
  hotel.
• 22:20
  They
• 22:20
  know
• 22:20
  park
• 22:21
  models
• 22:21
  or
• 22:21
  something
• 22:22
  like
• 22:22
  that
• 22:22
  because
• 22:23
  it's
• 22:23
  familiar,
• 22:24
  glamping
• 22:25
  isn't
• 22:25
  as
• 22:25
  familiar
• 22:26
  to
• 22:26
  them
• 22:26
  because
• 22:27
  maybe
• 22:27
  they
• 22:27
  haven't
• 22:27
  done
• 22:28
  it
• 22:28
  yet.
• 22:28
  Once
• 22:28
  they
• 22:28
  do,
• 22:29
  they
• 22:29
  get
• 22:29
  bit
• 22:29
  by
• 22:29
  the
• 22:30
  bug.
• 22:30
  So
• 22:31
  it's
• 22:31
  from
• 22:31
  like
• 22:32
  a
• 22:32
  Margaritaville
• 22:32
  to
• 22:33
  your
• 22:33
  point,
• 22:33
  Scott,
• 22:33
  there's
• 22:34
  a
• 22:34
  great
• 22:34
  pollination
• 22:35
  between
• 22:35
  traditional
• 22:36
  hotel,
• 22:37
  but
• 22:37
  with
• 22:38
  the
• 22:38
  RV
• 22:38
  adjunct
• 22:39
  and
• 22:39
  with
• 22:39
  the
• 22:39
  glamping
• 22:40
  adjuncts,
• 22:40
  you
• 22:40
  can
• 22:41
  serve
• 22:41
  a
• 22:41
  lot
• 22:41
  of
• 22:41
  masters,
• 22:42
  a
• 22:42
  lot
• 22:42
  of
• 22:42
  different
• 22:43
  consumer
• 22:43
  demographics
• 22:44
  and
• 22:44
  allocate
• 22:45
  and
• 22:45
  spread
• 22:45
  the
• 22:45
  risk
• 22:45
  accordingly.
• 22:46
  But
• 22:47
  you're
• 22:47
  dealing
• 22:47
  with
• 22:47
  accommodations
• 22:48
  of
• 22:48
  just
• 22:48
  a
• 22:49
  very
• 22:49
  in
• 22:49
  tuned,
• 22:49
  but
• 22:50
  it's
• 22:50
  a
• 22:50
  great
• 22:50
  way
• 22:50
  to
• 22:50
  say
• 22:51
  let's
• 22:51
  plug
• 22:51
  this
• 22:52
  onto
• 22:52
  hotel
• 22:53
  and
• 22:53
  see
• 22:53
  how
• 22:53
  we
• 22:54
  like
• 22:54
  it.
• 22:54
  And
• 22:54
  they
• 22:54
  love
• 22:55
  it
• 22:55
  so
• 22:56
  that
• 22:56
  I'm
• 22:56
  sure
• 22:56
  your
• 22:56
  points
• 22:57
  we'll
• 22:57
  see
• 22:57
  a
• 22:58
  lot
• 22:58
  more
• 22:58
  of
• 22:58
  the
• 22:58
  existing
• 22:59
  hotel
• 22:59
  that
• 22:59
  looks
• 23:00
  their
• 23:00
  toes
• 23:00
  in
• 23:00
  and
• 23:00
  says,
• 23:01
  ah,
• 23:02
  big
• 23:02
  stuff.
• 23:02
  I
• 23:02
  would
• 23:02
  think
• 23:03
  one
• 23:03
  of
• 23:03
  the
• 23:03
  issues
• 23:03
  with
• 23:03
  big
• 23:04
  hotel
• 23:04
  brands
• 23:05
  coming
• 23:05
  into
• 23:05
  the
• 23:05
  space
• 23:06
  though,
• 23:06
  is
• 23:06
  the
• 23:07
  geographic
• 23:07
  locations
• 23:08
  of
• 23:08
  campgrounds
• 23:09
  and
• 23:09
  RV
• 23:09
  parks.
• 23:09
  So
• 23:10
  when
• 23:10
  you
• 23:10
  think
• 23:10
  about
• 23:10
  major
• 23:11
  cities
• 23:11
  in
• 23:11
  the
• 23:11
  such,
• 23:12
  that's
• 23:12
  where
• 23:12
  the
• 23:12
  hotel
• 23:13
  industry
• 23:13
  is
• 23:13
  going
• 23:13
  to
• 23:13
  be,
• 23:14
  feel
• 23:14
  comfortable.
• 23:14
  They
• 23:14
  have
• 23:15
  offices
• 23:15
  there,
• 23:15
  they
• 23:16
  have
• 23:16
  hotels
• 23:16
  there,
• 23:17
  but
• 23:17
  there's
• 23:17
  very
• 23:17
  limited
• 23:18
  inventory
• 23:18
  of
• 23:18
  campgrounds.
• 23:19
  Look
• 23:19
  at,
• 23:19
  for
• 23:19
  example,
• 23:19
  the
• 23:19
  Koa
• 23:20
  outside
• 23:21
  of
• 23:21
  Portland,
• 23:21
  or
• 23:22
  I
• 23:22
  think
• 23:22
  it
• 23:22
  was
• 23:22
  Seattle
• 23:23
  that
• 23:23
  was
• 23:23
  sold
• 23:23
  and
• 23:24
  turned
• 23:24
  into
• 23:24
  a
• 23:24
  warehouse
• 23:25
  land's
• 23:25
  worth
• 23:26
  more
• 23:26
  as
• 23:26
  a
• 23:26
  warehouse
• 23:26
  than
• 23:27
  it
• 23:27
  is
• 23:27
  as
• 23:27
  a
• 23:27
  camp
• 23:27
  ground.
• 23:28
  And
• 23:28
  so
• 23:29
  that's
• 23:29
  going
• 23:29
  to
• 23:29
  limit
• 23:30
  a
• 23:30
  little
• 23:30
  bit
• 23:30
  of
• 23:30
  the
• 23:30
  opportunity
• 23:31
  for
• 23:31
  hotels
• 23:32
  to
• 23:32
  come
• 23:32
  into
• 23:32
  the
• 23:32
  direct
• 23:33
  campground
• 23:33
  and
• 23:33
  RV
• 23:34
  park
• 23:34
  space.
• 23:35
  And
• 23:35
  it's
• 23:35
  a
• 23:35
  great
• 23:35
  topic
• 23:36
  because
• 23:36
  I
• 23:36
  was
• 23:36
  actually,
• 23:36
  I
• 23:36
  was
• 23:37
  coming
• 23:37
  into
• 23:37
  this
• 23:37
  conversation
• 23:38
  with
• 23:38
  this
• 23:38
  in
• 23:38
  mind
• 23:38
  because
• 23:39
  one
• 23:39
  of
• 23:39
  the
• 23:39
  things
• 23:39
  that.
• 23:40
  I
• 23:40
  was
• 23:41
  getting
• 23:41
  a
• 23:41
  lot
• 23:41
  of
• 23:41
  feedback
• 23:41
  at
• 23:42
  the
• 23:42
  end
• 23:42
  of
• 23:42
  this
• 23:42
  over
• 23:43
  the
• 23:43
  last
• 23:43
  two
• 23:43
  weeks
• 23:43
  leading
• 23:44
  into
• 23:44
  the
• 23:44
  end
• 23:44
  of
• 23:44
  the
• 23:44
  year
• 23:45
  was
• 23:45
  there
• 23:45
  was
• 23:45
  a
• 23:45
  large
• 23:46
  number
• 23:46
  of
• 23:46
  mom
• 23:47
  and
• 23:47
  pop
• 23:47
  RV
• 23:48
  parks
• 23:48
  and
• 23:48
  campgrounds
• 23:49
  that
• 23:49
  were
• 23:49
  actively
• 23:50
  in
• 23:50
  the
• 23:50
  process
• 23:50
  of
• 23:50
  being
• 23:51
  sold.
• 23:51
  So
• 23:51
  they're
• 23:51
  in
• 23:51
  closing,
• 23:52
  they're
• 23:52
  in
• 23:53
  escrow
• 23:53
  and
• 23:54
  then
• 23:54
  the
• 23:54
  deals
• 23:54
  fell
• 23:55
  through
• 23:55
  and
• 23:55
  not
• 23:55
  just
• 23:55
  one
• 23:56
  of
• 23:56
  them,
• 23:56
  but
• 23:56
  multiple
• 23:56
  where
• 23:57
  the,
• 23:57
  it
• 23:58
  was
• 23:58
  a
• 23:58
  professional
• 23:58
  investment
• 23:59
  group.
• 23:59
  They
• 23:59
  got
• 23:59
  them
• 23:59
  all
• 23:59
  the
• 24:00
  way
• 24:00
  to
• 24:00
  the
• 24:00
  end.
• 24:00
  And
• 24:00
  then
• 24:00
  they
• 24:01
  came
• 24:01
  in
• 24:01
  at
• 24:01
  the
• 24:01
  last
• 24:01
  second,
• 24:02
  said,
• 24:02
  Hey,
• 24:02
  we
• 24:03
  actually
• 24:03
  think
• 24:03
  you're
• 24:03
  worth,
• 24:04
  30%
• 24:04
  lefts,
• 24:05
  and
• 24:05
  then,
• 24:06
  and
• 24:06
  it
• 24:06
  did
• 24:06
  that
• 24:06
  little
• 24:06
  negotiating
• 24:07
  tactic.
• 24:07
  Luckily,
• 24:08
  all
• 24:08
  the
• 24:08
  owners
• 24:08
  said,
• 24:09
  no,
• 24:09
  and
• 24:09
  walked
• 24:10
  away
• 24:10
  from
• 24:10
  it.
• 24:11
  But
• 24:11
  that
• 24:11
  may
• 24:12
  be
• 24:12
  the
• 24:12
  only
• 24:12
  real
• 24:13
  hiccup
• 24:13
  to
• 24:13
  a
• 24:14
  major
• 24:14
  chain.
• 24:15
  Like
• 24:15
  a
• 24:15
  hotel
• 24:15
  chain
• 24:16
  jumping
• 24:16
  to
• 24:16
  the
• 24:17
  space
• 24:17
  is
• 24:17
  they're
• 24:18
  going
• 24:18
  to
• 24:18
  want
• 24:18
  to
• 24:18
  run
• 24:18
  a
• 24:18
  campground
• 24:19
  near
• 24:19
  their
• 24:19
  existing
• 24:20
  locations.
• 24:21
  They're
• 24:21
  not
• 24:22
  really
• 24:22
  going
• 24:22
  to
• 24:22
  run
• 24:22
  one
• 24:23
  or
• 24:23
  run
• 24:23
  a
• 24:23
  campground
• 24:23
  where
• 24:24
  most
• 24:24
  campgrounds
• 24:24
  are
• 24:24
  located
• 24:25
  at,
• 24:25
  out
• 24:25
  in
• 24:25
  rural
• 24:26
  areas.
• 24:26
  So
• 24:26
  that's
• 24:27
  a
• 24:27
  little
• 24:27
  wrinkle
• 24:27
  into
• 24:28
  the
• 24:28
  whole
• 24:28
  idea
• 24:28
  that
• 24:28
  big
• 24:29
  chains
• 24:29
  would
• 24:29
  come
• 24:29
  into,
• 24:30
  which
• 24:30
  goes
• 24:30
  back
• 24:31
  to
• 24:31
  some
• 24:32
  communities,
• 24:32
  acquisition
• 24:33
  of
• 24:33
  LSI.
• 24:34
  It's
• 24:35
  a
• 24:35
  smart
• 24:35
  move
• 24:35
  on
• 24:35
  their
• 24:35
  part
• 24:36
  right
• 24:36
  there.
• 24:37
  They're
• 24:37
  acquiring
• 24:37
  a
• 24:37
  known
• 24:38
  brand
• 24:38
  that,
• 24:39
  that
• 24:39
  other
• 24:39
  owners
• 24:40
  are
• 24:40
  franchising.
• 24:41
  It's
• 24:41
  why
• 24:41
  Koa
• 24:42
  so
• 24:42
  successful.
• 24:43
  They
• 24:43
  don't
• 24:43
  need
• 24:43
  to
• 24:43
  own
• 24:43
  500
• 24:44
  locations.
• 24:45
  They
• 24:45
  own
• 24:45
  20,
• 24:46
  30
• 24:46
  of
• 24:46
  the
• 24:46
  good
• 24:46
  locations
• 24:47
  that
• 24:47
  they
• 24:47
  like.
• 24:48
  And
• 24:48
  then
• 24:48
  they
• 24:48
  franchise
• 24:49
  out
• 24:49
  the
• 24:49
  brand
• 24:49
  to
• 24:49
  the
• 24:49
  others.
• 24:50
  That's
• 24:50
  where
• 24:51
  Margaritaville
• 24:51
  comes
• 24:52
  into
• 24:52
  play,
• 24:52
  right?
• 24:52
  That
• 24:52
  could
• 24:53
  easily
• 24:53
  be
• 24:53
  a
• 24:53
  franchise.
• 24:54
  Those
• 24:54
  type
• 24:54
  of
• 24:54
  plays
• 24:55
  become
• 24:55
  very
• 24:55
  interesting.
• 24:56
  The
• 24:56
  other
• 24:57
  thing
• 24:57
  that
• 24:57
  we're
• 24:57
  starting
• 24:57
  to
• 24:57
  see
• 24:58
  now,
• 24:58
  there's
• 24:58
  now
• 24:59
  at
• 24:59
  least
• 24:59
  two
• 25:00
  small
• 25:01
  private
• 25:01
  RV
• 25:02
  parks
• 25:02
  that
• 25:02
  have
• 25:02
  opened
• 25:03
  up
• 25:03
  in
• 25:03
  the
• 25:03
  last
• 25:03
  year
• 25:04
  that
• 25:04
  are
• 25:04
  completely
• 25:05
  and
• 25:05
  fully
• 25:06
  automated.
• 25:06
  Nobody
• 25:07
  on
• 25:07
  staff,
• 25:08
  everything's
• 25:08
  digital,
• 25:09
  you
• 25:09
  show
• 25:09
  up
• 25:10
  and
• 25:10
  you
• 25:10
  check
• 25:10
  out
• 25:10
  the
• 25:10
  spots.
• 25:11
  In
• 25:11
  my
• 25:12
  honest,
• 25:12
  humble
• 25:13
  opinion,
• 25:13
  I
• 25:13
  think
• 25:14
  that
• 25:14
  you're
• 25:14
  going
• 25:14
  to
• 25:14
  see
• 25:14
  something
• 25:15
  in
• 25:15
  that
• 25:15
  space
• 25:16
  take
• 25:16
  off,
• 25:17
  or
• 25:17
  somebody
• 25:17
  ends
• 25:17
  up
• 25:17
  opening
• 25:18
  or
• 25:18
  starting.
• 25:19
  A
• 25:19
  chain
• 25:19
  of
• 25:20
  them
• 25:20
  along
• 25:20
  an
• 25:20
  interstate,
• 25:21
  along
• 25:21
  a
• 25:21
  major
• 25:21
  route
• 25:22
  that
• 25:22
  are
• 25:22
  completely
• 25:23
  automated.
• 25:24
  That's
• 25:24
  where
• 25:24
  I
• 25:25
  think
• 25:25
  at
• 25:25
  least
• 25:25
  on
• 25:25
  the
• 25:25
  RV
• 25:26
  parks
• 25:26
  space,
• 25:27
  there's
• 25:27
  a
• 25:27
  real
• 25:27
  opportunity
• 25:28
  looking
• 25:28
  ahead.
• 25:28
  I
• 25:28
  think
• 25:28
  what
• 25:28
  you're
• 25:29
  seeing
• 25:29
  is
• 25:29
  that
• 25:29
  we're
• 25:29
  all
• 25:29
  probably
• 25:30
  going
• 25:30
  to
• 25:30
  be
• 25:30
  right
• 25:30
  in
• 25:31
  some
• 25:31
  form
• 25:31
  or
• 25:31
  fashion,
• 25:32
  you're
• 25:32
  going
• 25:32
  to
• 25:32
  be
• 25:32
  right
• 25:32
  about,
• 25:33
  I
• 25:33
  think
• 25:33
  I
• 25:33
  agree
• 25:33
  with
• 25:33
  you
• 25:33
  with
• 25:34
  the
• 25:34
  automation
• 25:34
  Scott's
• 25:34
  going
• 25:35
  to
• 25:35
  be
• 25:35
  right.
• 25:35
  Randy's
• 25:35
  is
• 25:35
  going
• 25:35
  to
• 25:35
  be
• 25:35
  right
• 25:36
  about
• 25:36
  the
• 25:36
  different
• 25:36
  types
• 25:36
  of
• 25:36
  players
• 25:37
  and
• 25:37
  things
• 25:37
  that
• 25:37
  are
• 25:38
  getting
• 25:38
  into
• 25:38
  the
• 25:38
  space.
• 25:39
  I
• 25:39
  think
• 25:39
  outside
• 25:40
  the
• 25:40
  box
• 25:40
  is
• 25:40
  going
• 25:40
  to
• 25:40
  be
• 25:40
  the
• 25:40
  most
• 25:41
  interesting
• 25:41
  thing.
• 25:41
  So
• 25:41
  you're
• 25:42
  talking
• 25:42
  about
• 25:42
  like
• 25:42
  rural
• 25:42
  areas
• 25:43
  and
• 25:43
  that
• 25:43
  is
• 25:43
  a
• 25:43
  challenge
• 25:44
  if
• 25:44
  you're
• 25:44
  going
• 25:44
  to
• 25:44
  do
• 25:45
  RV
• 25:45
  parks.
• 25:46
  But
• 25:46
  I
• 25:46
  think
• 25:46
  if
• 25:46
  you're
• 25:47
  going
• 25:47
  to
• 25:47
  do
• 25:47
  glamping,
• 25:47
  there
• 25:48
  are
• 25:48
  ways
• 25:48
  for
• 25:48
  these
• 25:48
  hotels
• 25:49
  to
• 25:49
  think
• 25:49
  outside
• 25:50
  the
• 25:50
  box
• 25:50
  to
• 25:50
  things
• 25:50
  that
• 25:51
  maybe
• 25:51
  even
• 25:51
  Ruben
• 25:52
  hasn't
• 25:52
  thought
• 25:52
  of
• 25:52
  as
• 25:52
  far
• 25:53
  as
• 25:53
  what
• 25:53
  glamping
• 25:53
  means
• 25:54
  today
• 25:54
  and
• 25:54
  what
• 25:54
  it
• 25:55
  is,
• 25:55
  and
• 25:55
  whether
• 25:56
  that's
• 25:56
  on
• 25:56
  the
• 25:56
  rooftop
• 25:57
  of
• 25:57
  a
• 25:57
  downtown
• 25:57
  city
• 25:57
  building.
• 25:58
  I
• 25:58
  was
• 25:58
  watching
• 25:58
  a,
• 25:59
  I
• 25:59
  don't
• 26:00
  know
• 26:00
  if
• 26:00
  you
• 26:00
  guys
• 26:00
  have
• 26:00
  seen
• 26:00
  this,
• 26:00
  so
• 26:00
  it
• 26:01
  will
• 26:01
  Smith
• 26:01
  did
• 26:01
  a
• 26:01
  national
• 26:02
  geographic
• 26:02
  series
• 26:03
  where
• 26:03
  he
• 26:03
  goes
• 26:03
  I
• 26:03
  forget
• 26:04
  what
• 26:04
  it's
• 26:04
  called.
• 26:04
  Welcome
• 26:04
  to
• 26:05
  earth
• 26:05
  and
• 26:05
  he
• 26:05
  did
• 26:06
  it.
• 26:06
  He
• 26:06
  did
• 26:06
  no,
• 26:06
  it
• 26:06
  was
• 26:07
  I'm
• 26:07
  sorry.
• 26:07
  It
• 26:07
  was
• 26:07
  a
• 26:07
  different
• 26:07
  show.
• 26:08
  Anyway,
• 26:08
  there
• 26:08
  was
• 26:09
  a
• 26:09
  show
• 26:09
  I
• 26:09
  was
• 26:09
  watching
• 26:09
  about
• 26:09
  houses
• 26:10
  on
• 26:10
  apple
• 26:10
  TV
• 26:11
  and
• 26:11
  somebody
• 26:12
  had
• 26:12
  built
• 26:12
  a
• 26:12
  house
• 26:13
  inside
• 26:14
  a
• 26:14
  greenhouse,
• 26:14
  and
• 26:14
  it
• 26:15
  was
• 26:15
  in
• 26:15
  one
• 26:15
  of
• 26:15
  the
• 26:15
  Nordic
• 26:16
  countries,
• 26:17
  Sweden,
• 26:17
  I
• 26:17
  think.
• 26:18
  And
• 26:18
  it
• 26:18
  was
• 26:18
  completely
• 26:19
  contained.
• 26:19
  So
• 26:19
  his
• 26:20
  house
• 26:20
  was
• 26:20
  inside
• 26:20
  here.
• 26:21
  It
• 26:21
  was
• 26:21
  a
• 26:21
  warm
• 26:21
  year
• 26:21
  round
• 26:21
  to
• 26:22
  get
• 26:22
  plants
• 26:22
  and
• 26:22
  agriculture
• 26:23
  and
• 26:23
  ecosystems
• 26:24
  and
• 26:24
  all
• 26:24
  those
• 26:24
  kinds
• 26:24
  of
• 26:24
  things.
• 26:25
  And
• 26:25
  so
• 26:26
  is
• 26:26
  that
• 26:26
  feasible?
• 26:26
  Is
• 26:27
  that
• 26:27
  something
• 26:27
  that's
• 26:27
  going
• 26:27
  to
• 26:27
  happen
• 26:27
  right
• 26:28
  now
• 26:28
  tomorrow?
• 26:28
  No,
• 26:29
  but
• 26:29
  some
• 26:29
  of
• 26:29
  those
• 26:29
  things
• 26:31
  thinking
• 26:31
  outside
• 26:32
  the
• 26:32
  box
• 26:32
  could
• 26:32
  be
• 26:33
  ways
• 26:33
  that
• 26:33
  hotel
• 26:34
  chains
• 26:34
  get
• 26:34
  in
• 26:35
  and
• 26:35
  keep
• 26:35
  things
• 26:35
  closer
• 26:36
  to
• 26:36
  a
• 26:36
  downtown
• 26:36
  area
• 26:37
  to
• 26:37
  solve
• 26:37
  that
• 26:38
  rural
• 26:38
  problem
• 26:38
  with
• 26:38
  glamping
• 26:39
  specifically.
• 26:45
  Yeah.
• 26:45
  And
• 26:45
  then
• 26:45
  the
• 26:45
  only
• 26:46
  thing
• 26:46
  there,
• 26:46
  you're
• 26:46
  going
• 26:46
  to
• 26:46
  run
• 26:46
  into
• 26:47
  a
• 26:47
  B
• 26:47
  zoning,
• 26:47
  right?
• 26:48
  Zoning's
• 26:48
  the
• 26:49
  number
• 26:49
  one
• 26:49
  thing
• 26:49
  people
• 26:49
  looking
• 26:50
  at
• 26:50
  zoning
• 26:50
  can,
• 26:50
  I
• 26:50
  can
• 26:51
  actually
• 26:51
  do
• 26:51
  it
• 26:51
  there.
• 26:52
  And
• 26:52
  that
• 26:52
  takes
• 26:52
  a
• 26:52
  little
• 26:52
  bit
• 26:52
  of
• 26:53
  a
• 26:53
  mental
• 26:53
  frame
• 26:53
  where
• 26:53
  he
• 26:53
  goes
• 26:54
  to
• 26:54
  the
• 26:54
  whole
• 26:54
  idea
• 26:54
  of
• 26:55
  people
• 26:55
  acquiring
• 26:55
  campgrounds
• 26:56
  and
• 26:56
  RV
• 26:56
  parks.
• 26:57
  The
• 26:57
  reality
• 26:57
  is
• 26:57
  our
• 26:57
  industry.
• 26:59
  And
• 26:59
  I
• 26:59
  don't
• 26:59
  say
• 26:59
  this
• 26:59
  negatively,
• 27:00
  I
• 27:00
  just
• 27:00
  say
• 27:00
  it
• 27:01
  factually
• 27:01
  is
• 27:01
  not
• 27:02
  as
• 27:02
  sophisticated
• 27:02
  as
• 27:02
  other
• 27:03
  commercial
• 27:03
  real
• 27:03
  estate
• 27:04
  types.
• 27:04
  And
• 27:04
  as
• 27:04
  a
• 27:04
  result
• 27:05
  of
• 27:05
  that,
• 27:05
  it
• 27:06
  lends
• 27:06
  to
• 27:06
  inefficiencies
• 27:07
  in
• 27:07
  that
• 27:07
  market,
• 27:08
  right?
• 27:08
  So
• 27:08
  it's
• 27:08
  not
• 27:09
  easy
• 27:09
  to
• 27:09
  do
• 27:09
  a
• 27:09
  40
• 27:10
  site
• 27:10
  roll-up
• 27:10
  cause
• 27:10
  40
• 27:11
  different
• 27:11
  owners,
• 27:11
  they
• 27:11
  all
• 27:11
  have
• 27:12
  different
• 27:12
  valuations
• 27:12
  of
• 27:13
  the
• 27:13
  property.
• 27:14
  And
• 27:14
  then
• 27:14
  you
• 27:14
  have
• 27:14
  the
• 27:14
  zoning
• 27:15
  issues.
• 27:15
  And,
• 27:15
  for
• 27:15
  example,
• 27:16
  hip
• 27:16
  camp,
• 27:16
  they
• 27:16
  just
• 27:16
  acquired
• 27:17
  a
• 27:18
  competitor
• 27:18
  in
• 27:18
  the
• 27:18
  UK,
• 27:19
  a
• 27:19
  big
• 27:19
  news
• 27:19
  story
• 27:20
  over
• 27:20
  the
• 27:20
  last
• 27:20
  week.
• 27:21
  What's
• 27:21
  interesting
• 27:22
  about
• 27:22
  hip
• 27:22
  camp.
• 27:22
  When
• 27:22
  you
• 27:22
  look
• 27:23
  at
• 27:23
  their
• 27:23
  model,
• 27:23
  they
• 27:23
  came
• 27:24
  into
• 27:24
  the
• 27:24
  market,
• 27:24
  they
• 27:24
  tried
• 27:25
  to
• 27:25
  work
• 27:25
  with
• 27:25
  the.
• 27:26
  They
• 27:27
  saw
• 27:27
  those
• 27:27
  inefficiencies
• 27:28
  and
• 27:28
  they
• 27:28
  said,
• 27:28
  ah,
• 27:28
  forget
• 27:29
  you.
• 27:29
  We're
• 27:29
  just
• 27:29
  going
• 27:29
  to
• 27:29
  go
• 27:29
  ahead
• 27:29
  and
• 27:30
  start
• 27:30
  our
• 27:30
  own
• 27:30
  industry
• 27:31
  and
• 27:31
  get
• 27:31
  a
• 27:31
  whole
• 27:31
  bunch
• 27:31
  of
• 27:31
  private
• 27:32
  property
• 27:32
  owners
• 27:32
  to
• 27:32
  start
• 27:33
  up
• 27:33
  random
• 27:33
  campgrounds
• 27:34
  without
• 27:34
  any
• 27:34
  zoning
• 27:35
  or
• 27:35
  health
• 27:35
  codes.
• 27:35
  Sweet.
• 27:36
  And
• 27:36
  apparently
• 27:36
  it's
• 27:37
  working
• 27:37
  for
• 27:37
  them,
• 27:37
  but
• 27:38
  that
• 27:38
  shows
• 27:39
  that
• 27:39
  there's
• 27:39
  inefficiencies
• 27:40
  in
• 27:40
  the
• 27:40
  market
• 27:41
  when
• 27:41
  other
• 27:41
  players
• 27:41
  can
• 27:41
  do
• 27:42
  outside
• 27:43
  the
• 27:43
  box,
• 27:43
  ideas
• 27:43
  like
• 27:44
  that
• 27:44
  and
• 27:44
  continue
• 27:44
  on
• 27:45
  with
• 27:45
  those
• 27:45
  type
• 27:45
  of
• 27:45
  models.
• 27:46
  So
• 27:46
  I
• 27:46
  agree
• 27:46
  with
• 27:47
  you,
• 27:47
  Brian.
• 27:47
  I
• 27:47
  think
• 27:47
  outside
• 27:48
  the
• 27:48
  box
• 27:48
  will
• 27:48
  be
• 27:49
  the
• 27:49
  future,
• 27:49
  and
• 27:49
  then
• 27:49
  it's
• 27:49
  just
• 27:50
  a
• 27:50
  matter
• 27:50
  of
• 27:50
  risk
• 27:51
  appetite.
• 27:52
  And
• 27:52
  the
• 27:52
  reality
• 27:52
  is
• 27:52
  the
• 27:52
  risk
• 27:53
  appetite
• 27:53
  in
• 27:53
  the
• 27:53
  market
• 27:54
  is
• 27:54
  being
• 27:54
  driven
• 27:55
  by
• 27:55
  risk
• 27:55
  appetite
• 27:56
  overall.
• 27:57
  When
• 27:57
  you
• 27:57
  look
• 27:57
  at
• 27:58
  asset
• 27:58
  classes
• 27:59
  who
• 27:59
  here
• 27:59
  is
• 28:00
  invested
• 28:00
  in
• 28:00
  F
• 28:00
  NFTs,
• 28:01
  right?
• 28:01
  No,
• 28:02
  I'm
• 28:02
  not
• 28:02
  putting
• 28:02
  my
• 28:02
  hand
• 28:02
  up,
• 28:03
  but
• 28:03
  you've
• 28:03
  heard
• 28:03
  of
• 28:03
  them.
• 28:03
  So
• 28:04
  there,
• 28:05
  the
• 28:05
  point
• 28:05
  is
• 28:05
  there's
• 28:05
  a
• 28:06
  lot
• 28:06
  of
• 28:06
  capital
• 28:06
  trying
• 28:06
  to
• 28:07
  chase
• 28:07
  returns.
• 28:08
  And
• 28:08
  as
• 28:08
  long
• 28:08
  as
• 28:08
  that
• 28:09
  exists,
• 28:10
  we
• 28:10
  will
• 28:10
  continue
• 28:10
  to
• 28:11
  see
• 28:11
  dabbling
• 28:11
  in
• 28:12
  our
• 28:12
  space.
• 28:13
  The
• 28:13
  second
• 28:13
  that
• 28:13
  stops,
• 28:14
  you
• 28:14
  will
• 28:14
  see
• 28:14
  that
• 28:15
  stop
• 28:15
  in
• 28:15
  our
• 28:15
  space
• 28:15
  too,
• 28:16
  because
• 28:16
  people
• 28:16
  are
• 28:16
  chasing
• 28:17
  returns
• 28:18
  and
• 28:18
  they're
• 28:18
  looking
• 28:19
  in
• 28:19
  our
• 28:19
  space
• 28:19
  for
• 28:19
  those
• 28:19
  reasons.
• 28:21
  Yeah,
• 28:21
  one
• 28:21
  quick
• 28:22
  bit
• 28:22
  on
• 28:22
  to
• 28:22
  that
• 28:23
  too,
• 28:23
  just
• 28:23
  really
• 28:23
  quickly
• 28:24
  is
• 28:24
  going
• 28:24
  to
• 28:24
  be
• 28:24
  the,
• 28:25
  and
• 28:25
  I
• 28:25
  agree
• 28:25
  with
• 28:25
  that,
• 28:27
  but
• 28:27
  the
• 28:27
  appetite
• 28:27
  for
• 28:28
  larger
• 28:28
  development
• 28:29
  consolidation,
• 28:31
  an
• 28:31
  umbrella,
• 28:31
  whatever
• 28:32
  you
• 28:32
  want
• 28:32
  to
• 28:32
  call
• 28:32
  it,
• 28:32
  there's
• 28:33
  going
• 28:33
  to
• 28:33
  the
• 28:33
  hurdle
• 28:34
  that
• 28:34
  they're
• 28:34
  all
• 28:34
  going
• 28:34
  to
• 28:34
  have
• 28:35
  to
• 28:35
  get
• 28:35
  over.
• 28:36
  I
• 28:36
  think
• 28:36
  for
• 28:36
  them
• 28:36
  to
• 28:36
  move
• 28:36
  quickly,
• 28:37
  is
• 28:37
  this
• 28:37
  feeling
• 28:38
  or
• 28:38
  this
• 28:39
  perspective
• 28:40
  of
• 28:40
  them
• 28:41
  being
• 28:41
  agnostic,
• 28:42
  right?
• 28:43
  So
• 28:43
  you
• 28:44
  look
• 28:44
  at
• 28:44
  the
• 28:44
  major
• 28:45
  investments
• 28:46
  into
• 28:46
  just
• 28:47
  outdoor
• 28:47
  glamping
• 28:48
  space.
• 28:48
  It's
• 28:48
  one
• 28:49
  brand,
• 28:50
  one
• 28:50
  partner,
• 28:51
  one
• 28:51
  unit
• 28:52
  type,
• 28:53
  because
• 28:53
  you
• 28:53
  can
• 28:53
  scale
• 28:53
  it.
• 28:53
  And
• 28:54
  it
• 28:54
  makes
• 28:54
  sense
• 28:54
  from
• 28:55
  a
• 28:55
  business
• 28:55
  perspective
• 28:56
  and
• 28:56
  that
• 28:56
  way
• 28:56
  there's
• 28:57
  one
• 28:57
  partner,
• 28:57
  one,
• 28:58
  one
• 28:58
  brand
• 28:58
  and
• 28:58
  everything
• 28:58
  like
• 28:59
  that.
• 28:59
  The
• 28:59
  issue
• 29:00
  with
• 29:00
  that,
• 29:00
  and
• 29:00
  the
• 29:00
  hurdle
• 29:01
  that,
• 29:01
  that's
• 29:01
  going
• 29:01
  to
• 29:01
  come
• 29:02
  across
• 29:02
  in
• 29:02
  the
• 29:02
  glamping
• 29:02
  space
• 29:03
  is
• 29:03
  that
• 29:03
  the
• 29:03
  glamping
• 29:03
  space
• 29:04
  is
• 29:04
  built
• 29:04
  to
• 29:04
  be
• 29:04
  different
• 29:05
  and
• 29:05
  unique,
• 29:05
  to
• 29:05
  exactly
• 29:06
  what
• 29:06
  you
• 29:06
  guys
• 29:06
  are
• 29:06
  talking
• 29:07
  about.
• 29:07
  So
• 29:08
  it
• 29:08
  becomes
• 29:08
  very
• 29:08
  hard
• 29:09
  for
• 29:09
  that
• 29:10
  user
• 29:10
  to
• 29:10
  say,
• 29:10
  all
• 29:10
  right,
• 29:10
  I
• 29:10
  don't
• 29:11
  want
• 29:11
  to
• 29:11
  do
• 29:11
  the
• 29:11
  exact
• 29:11
  same
• 29:11
  thing
• 29:12
  every
• 29:12
  weekend
• 29:12
  at
• 29:13
  the
• 29:13
  exact
• 29:13
  same
• 29:13
  park.
• 29:13
  No,
• 29:14
  I
• 29:14
  want
• 29:14
  a
• 29:14
  unique
• 29:15
  experience.
• 29:15
  I
• 29:15
  want
• 29:15
  something.
• 29:17
  So
• 29:17
  the
• 29:17
  moment
• 29:18
  that
• 29:18
  larger
• 29:18
  developer
• 29:19
  capital
• 29:19
  can
• 29:19
  come
• 29:20
  in
• 29:20
  and
• 29:20
  be
• 29:20
  comfortable
• 29:20
  with,
• 29:21
  Hey,
• 29:21
  you
• 29:21
  know
• 29:21
  what?
• 29:21
  I
• 29:21
  can
• 29:22
  have
• 29:22
  this
• 29:22
  and
• 29:22
  a
• 29:22
  little
• 29:23
  bit
• 29:23
  of
• 29:23
  this
• 29:23
  and
• 29:23
  wrap
• 29:24
  it
• 29:24
  up
• 29:24
  and
• 29:24
  make
• 29:24
  it
• 29:24
  work.
• 29:25
  It's
• 29:25
  complicated
• 29:25
  and
• 29:26
  it
• 29:26
  feels
• 29:27
  messy,
• 29:27
  but
• 29:27
  I
• 29:27
  think
• 29:28
  there's
• 29:28
  a
• 29:28
  way
• 29:28
  for
• 29:28
  them
• 29:29
  to
• 29:29
  make
• 29:29
  it
• 29:29
  work.
• 29:29
  But
• 29:29
  they've
• 29:30
  got
• 29:30
  to
• 29:30
  know
• 29:31
  that
• 29:31
  they
• 29:31
  have
• 29:32
  to
• 29:32
  come
• 29:32
  from
• 29:32
  looking
• 29:33
  at
• 29:33
  the
• 29:33
  lens
• 29:33
  of
• 29:33
  Livermore
• 29:34
  agnostic
• 29:34
  versus
• 29:35
  one
• 29:36
  brand
• 29:36
  one,
• 29:36
  backing
• 29:37
  one
• 29:37
  partner,
• 29:37
  one
• 29:38
  asset
• 29:38
  class
• 29:39
  that's
• 29:40
  worked
• 29:40
  but
• 29:40
  I
• 29:40
  think
• 29:41
  whoever
• 29:41
  can
• 29:42
  get
• 29:42
  comfortable
• 29:42
  with
• 29:42
  that
• 29:43
  is
• 29:43
  going
• 29:43
  to
• 29:43
  have
• 29:43
  a
• 29:44
  lot
• 29:44
  of
• 29:44
  running.
• 29:45
  Would
• 29:45
  you
• 29:46
  think
• 29:46
  Rube
• 29:46
  Rubin
• 29:47
  Randy
• 29:47
  Scott,
• 29:48
  would
• 29:48
  you
• 29:48
  think
• 29:48
  that
• 29:49
  this
• 29:49
  is
• 29:49
  the
• 29:49
  year
• 29:50
  to
• 29:50
  make
• 29:50
  it
• 29:50
  or
• 29:50
  break
• 29:51
  it
• 29:51
  for
• 29:51
  our
• 29:51
  industry?
• 29:52
  We've
• 29:52
  had
• 29:52
  several
• 29:52
  years
• 29:53
  of
• 29:53
  good
• 29:53
  runs
• 29:54
  going
• 29:54
  into
• 29:54
  this
• 29:55
  summer.
• 29:55
  If
• 29:55
  we
• 29:55
  continue
• 29:56
  to
• 29:56
  see
• 29:56
  the
• 29:56
  growth,
• 29:57
  that'll
• 29:57
  be
• 29:58
  the
• 29:58
  moment
• 29:58
  when
• 29:58
  the
• 29:58
  big
• 29:59
  money
• 29:59
  says,
• 29:59
  okay
• 29:59
  this
• 30:00
  thing's
• 30:00
  not
• 30:00
  going
• 30:00
  away.
• 30:01
  This
• 30:01
  industry
• 30:01
  is
• 30:01
  here
• 30:01
  to
• 30:01
  stay
• 30:02
  because
• 30:02
  I
• 30:02
  know
• 30:02
  I've
• 30:02
  talked
• 30:03
  to
• 30:03
  like
• 30:03
  professional
• 30:04
  capital
• 30:04
  and
• 30:04
  the
• 30:05
  number
• 30:05
  one
• 30:05
  question
• 30:05
  I
• 30:05
  get
• 30:06
  from
• 30:06
  them
• 30:06
  because
• 30:06
  they've
• 30:06
  seen
• 30:06
  the
• 30:07
  articles
• 30:07
  on
• 30:07
  RV
• 30:07
  sales
• 30:08
  and
• 30:08
  all
• 30:08
  that
• 30:08
  type
• 30:08
  of
• 30:08
  stuff
• 30:09
  they
• 30:09
  always
• 30:09
  ask.
• 30:10
  The
• 30:10
  first
• 30:10
  question
• 30:10
  is,
• 30:11
  okay.
• 30:11
  So
• 30:11
  what
• 30:11
  happens
• 30:12
  when
• 30:12
  everybody
• 30:12
  decides
• 30:13
  to
• 30:13
  stop
• 30:13
  our
• 30:14
  V
• 30:14
  right?
• 30:14
  That's
• 30:14
  their
• 30:15
  number
• 30:15
  one
• 30:15
  question.
• 30:15
  Cause
• 30:16
  they
• 30:16
  just,
• 30:16
  they
• 30:16
  think
• 30:16
  it's
• 30:17
  a
• 30:17
  fad.
• 30:17
  And
• 30:18
  so
• 30:18
  do
• 30:18
  you
• 30:18
  think
• 30:19
  it's
• 30:19
  a
• 30:19
  fad?
• 30:20
  I
• 30:20
  obviously,
• 30:20
  I
• 30:20
  don't.
• 30:21
  I
• 30:21
  think
• 30:21
  all
• 30:21
  of
• 30:21
  us
• 30:21
  here
• 30:21
  don't
• 30:22
  think
• 30:22
  it's
• 30:22
  a
• 30:22
  fad,
• 30:22
  but
• 30:23
  do
• 30:23
  you
• 30:23
  think
• 30:23
  maybe
• 30:23
  this
• 30:24
  is
• 30:24
  our
• 30:24
  year
• 30:24
  where
• 30:24
  if
• 30:25
  it
• 30:25
  doesn't
• 30:25
  fat
• 30:26
  out
• 30:26
  that
• 30:27
  you'll
• 30:27
  start
• 30:27
  seeing
• 30:27
  some
• 30:27
  serious
• 30:28
  money
• 30:28
  saying,
• 30:28
  okay,
• 30:29
  this
• 30:29
  is
• 30:29
  around
• 30:30
  and
• 30:30
  it'll
• 30:30
  stay.
• 30:30
  I
• 30:31
  think
• 30:31
  it's
• 30:31
  a
• 30:31
  great
• 30:32
  point.
• 30:32
  And
• 30:32
  we've
• 30:32
  had
• 30:33
  some
• 30:33
  conversations
• 30:34
  internally,
• 30:35
  too
• 30:35
  with
• 30:35
  some
• 30:36
  of
• 30:36
  our
• 30:36
  partners
• 30:37
  along
• 30:37
  the
• 30:37
  same
• 30:37
  lines
• 30:38
  of
• 30:38
  market
• 30:38
  set
• 30:38
  is,
• 30:39
  is
• 30:39
  this
• 30:39
  just
• 30:40
  a
• 30:40
  boom?
• 30:41
  And
• 30:41
  when
• 30:41
  will
• 30:41
  it
• 30:42
  Boston,
• 30:42
  how
• 30:42
  will
• 30:42
  it
• 30:42
  Boston
• 30:43
  and
• 30:44
  how
• 30:44
  do
• 30:44
  we
• 30:44
  want
• 30:44
  to
• 30:45
  be
• 30:45
  a
• 30:45
  part
• 30:45
  of
• 30:45
  it?
• 30:45
  I
• 30:46
  certainly,
• 30:46
  I
• 30:46
  don't
• 30:46
  think
• 30:46
  it
• 30:46
  will.
• 30:47
  I
• 30:47
  think
• 30:48
  we'll
• 30:48
  have
• 30:48
  another
• 30:48
  great
• 30:49
  year
• 30:49
  in
• 30:49
  2022.
• 30:50
  I
• 30:50
  think
• 30:50
  we'll,
• 30:51
  we
• 30:51
  should
• 30:51
  expect
• 30:52
  to
• 30:52
  see
• 30:52
  some
• 30:52
  leveling
• 30:52
  out
• 30:53
  beyond
• 30:53
  2022
• 30:54
  people
• 30:55
  are
• 30:55
  just
• 30:55
  getting
• 30:55
  their
• 30:55
  RVs
• 30:56
  now
• 30:56
  that
• 30:56
  they
• 30:57
  ordered,
• 30:57
  last
• 30:57
  spring
• 30:58
  and
• 30:59
  they
• 30:59
  want
• 30:59
  to
• 30:59
  use
• 30:59
  them.
• 30:59
  So
• 31:00
  they'll
• 31:00
  use
• 31:00
  them
• 31:00
  again
• 31:00
  this
• 31:00
  year
• 31:01
  and
• 31:01
  I
• 31:02
  think
• 31:02
  we
• 31:02
  should
• 31:02
  expect
• 31:02
  to
• 31:02
  continue
• 31:03
  to
• 31:03
  see
• 31:03
  that,
• 31:03
  but
• 31:04
  I
• 31:04
  certainly,
• 31:04
  we
• 31:04
  look
• 31:05
  at
• 31:05
  the
• 31:05
  industry
• 31:06
  over
• 31:07
  the
• 31:07
  course
• 31:08
  of,
• 31:08
  the
• 31:08
  fuel
• 31:09
  prices,
• 31:09
  skyrocketing,
• 31:10
  the
• 31:10
  great
• 31:10
  recession
• 31:11
  and,
• 31:11
  certainly
• 31:11
  through
• 31:11
  COVID.
• 31:13
  And
• 31:13
  it
• 31:13
  has
• 31:13
  always
• 31:14
  performed
• 31:15
  well,
• 31:15
  it
• 31:15
  has
• 31:15
  always
• 31:16
  performed
• 31:16
  relatively
• 31:17
  well
• 31:17
  to
• 31:17
  other
• 31:18
  industries
• 31:18
  as
• 31:19
  well.
• 31:19
  So
• 31:19
  I
• 31:20
  think,
• 31:20
  one,
• 31:20
  one
• 31:21
  thing
• 31:21
  we're
• 31:21
  doing
• 31:21
  on
• 31:21
  our
• 31:22
  side
• 31:22
  at
• 31:22
  horizon
• 31:23
  is
• 31:24
  bringing
• 31:24
  a
• 31:24
  lot
• 31:24
  of
• 31:24
  stability
• 31:25
  to
• 31:26
  the
• 31:26
  properties
• 31:27
  that
• 31:27
  our
• 31:27
  partners
• 31:28
  are
• 31:28
  picking
• 31:28
  up
• 31:28
  because
• 31:29
  2021
• 31:30
  was
• 31:30
  a
• 31:30
  feeding
• 31:31
  frenzy.
• 31:32
  It
• 31:32
  was,
• 31:32
  and
• 31:33
  I
• 31:33
  think
• 31:33
  20,
• 31:33
  22
• 31:34
  is
• 31:34
  going
• 31:34
  to
• 31:34
  be
• 31:34
  the
• 31:34
  same
• 31:34
  way,
• 31:34
  pick
• 31:35
  up
• 31:35
  anything
• 31:35
  you
• 31:36
  can
• 31:37
  and
• 31:37
  then
• 31:37
  we'll
• 31:37
  figure
• 31:37
  it
• 31:37
  out
• 31:38
  later.
• 31:38
  So
• 31:39
  we've,
• 31:40
  we
• 31:40
  think
• 31:40
  that
• 31:40
  this
• 31:41
  would
• 31:41
  be
• 31:41
  a
• 31:41
  transition
• 31:42
  year.
• 31:42
  I
• 31:42
  think
• 31:43
  you'll
• 31:43
  still
• 31:43
  be
• 31:43
  very
• 31:43
  busy
• 31:44
  with
• 31:44
  acquisitions,
• 31:44
  but
• 31:45
  we're
• 31:45
  looking
• 31:46
  to
• 31:46
  bring
• 31:46
  a
• 31:46
  little
• 31:46
  bit
• 31:46
  of
• 31:46
  stability
• 31:47
  to
• 31:47
  our
• 31:47
  clients,
• 31:47
  as
• 31:48
  properties
• 31:48
  in
• 31:48
  our
• 31:48
  clients
• 31:49
  is
• 31:49
  understanding
• 31:49
  too
• 31:50
  of
• 31:50
  what
• 31:51
  the
• 31:51
  returns
• 31:51
  can
• 31:51
  be.
• 31:52
  And
• 31:52
  we've
• 31:52
  been
• 31:52
  giving
• 31:53
  Sage
• 31:53
  advice
• 31:54
  all
• 31:54
  along,
• 31:55
  knowing
• 31:55
  that
• 31:55
  this
• 31:55
  will
• 31:56
  eventually
• 31:56
  level
• 31:57
  out
• 31:57
  a
• 31:57
  bit.
• 31:57
  It's
• 31:58
  not
• 31:58
  gonna,
• 31:58
  it's
• 31:58
  not
• 31:59
  gonna
• 31:59
  falter,
• 31:59
  it's
• 32:00
  not
• 32:00
  going
• 32:00
  to
• 32:00
  bust,
• 32:01
  but
• 32:01
  it
• 32:01
  will
• 32:01
  level
• 32:01
  out
• 32:02
  and
• 32:02
  likely
• 32:02
  later
• 32:03
  this
• 32:03
  year,
• 32:03
  and
• 32:03
  it
• 32:03
  said
• 32:04
  20,
• 32:04
  23,
• 32:04
  for
• 32:04
  sure.
• 32:07
  Sorry.
• 32:08
  Go
• 32:08
  ahead.
• 32:08
  No,
• 32:09
  go
• 32:09
  ahead,
• 32:09
  Casey.
• 32:10
  I
• 32:10
  was
• 32:10
  just
• 32:10
  going
• 32:10
  to
• 32:11
  say,
• 32:11
  there,
• 32:11
  the
• 32:12
  mark,
• 32:13
  you
• 32:13
  mentioned
• 32:13
  like
• 32:13
  some
• 32:13
  of
• 32:13
  the,
• 32:14
  some
• 32:14
  are
• 32:14
  falling
• 32:15
  through,
• 32:15
  I
• 32:15
  think
• 32:15
  with
• 32:15
  certain
• 32:16
  groups,
• 32:16
  but
• 32:17
  we're
• 32:17
  seeing
• 32:17
  a
• 32:17
  lot,
• 32:18
  we're
• 32:18
  seeing
• 32:19
  an
• 32:19
  insane
• 32:19
  amount
• 32:20
  of
• 32:20
  transitions
• 32:21
  right
• 32:21
  now.
• 32:21
  Like
• 32:21
  park
• 32:21
  transitions,
• 32:22
  where
• 32:22
  they're,
• 32:22
  they're
• 32:22
  going
• 32:23
  through.
• 32:24
  And
• 32:24
  it's
• 32:24
  an
• 32:25
  interesting
• 32:25
  thing
• 32:25
  because,
• 32:26
  with
• 32:26
  some,
• 32:26
  you
• 32:27
  have
• 32:27
  this
• 32:27
  generational
• 32:28
  idea,
• 32:29
  like
• 32:29
  these
• 32:29
  campers
• 32:29
  has
• 32:30
  been
• 32:30
  passed
• 32:30
  on
• 32:30
  for
• 32:31
  two
• 32:31
  or
• 32:31
  three,
• 32:31
  multiple
• 32:32
  generations,
• 32:33
  and
• 32:33
  now
• 32:33
  they're
• 32:33
  selling
• 32:34
  them.
• 32:34
  Is
• 32:34
  that
• 32:34
  a
• 32:34
  good
• 32:34
  thing
• 32:34
  or
• 32:35
  bad
• 32:35
  thing?
• 32:35
  You
• 32:35
  can
• 32:35
  look
• 32:36
  at
• 32:36
  it
• 32:36
  from
• 32:36
  a
• 32:36
  couple
• 32:36
  different
• 32:36
  ways,
• 32:37
  but
• 32:37
  I
• 32:37
  just
• 32:37
  wonder
• 32:37
  was
• 32:38
  there
• 32:38
  an
• 32:38
  opportunity
• 32:38
  for
• 32:38
  these
• 32:39
  cameras
• 32:39
  to
• 32:39
  sell,
• 32:40
  10,
• 32:40
  15
• 32:41
  years
• 32:41
  ago,
• 32:41
  right?
• 32:41
  Was
• 32:42
  the
• 32:42
  investment,
• 32:42
  there
• 32:42
  was
• 32:42
  the
• 32:43
  margin
• 32:43
  of
• 32:43
  the
• 32:43
  profit
• 32:44
  there
• 32:45
  in,
• 32:45
  is
• 32:45
  this
• 32:46
  a
• 32:46
  great
• 32:46
  time
• 32:47
  to,
• 32:47
  to
• 32:48
  either
• 32:48
  get
• 32:49
  into
• 32:49
  this
• 32:49
  space
• 32:50
  because
• 32:50
  it's
• 32:51
  so
• 32:51
  big
• 32:51
  or
• 32:52
  is
• 32:52
  it
• 32:52
  a
• 32:52
  good
• 32:52
  time
• 32:52
  to
• 32:52
  be
• 32:53
  able
• 32:53
  to
• 32:53
  get
• 32:53
  a
• 32:54
  ridiculous
• 32:54
  amount
• 32:55
  of
• 32:55
  return
• 32:56
  for
• 32:56
  that?
• 32:56
  But
• 32:56
  yeah.
• 32:57
  W
• 32:57
  we
• 32:57
  S
• 32:58
  I
• 32:58
  it's
• 32:58
  taking
• 32:58
  up
• 32:59
  the
• 32:59
  two
• 32:59
  employees
• 33:00
  right
• 33:00
  now,
• 33:00
  just
• 33:00
  doing
• 33:01
  park
• 33:01
  transitions.
• 33:02
  Like,
• 33:02
  all
• 33:03
  they're
• 33:03
  doing
• 33:03
  is
• 33:03
  transferring
• 33:04
  the
• 33:04
  backend
• 33:05
  of
• 33:05
  camp
• 33:06
  spot
• 33:07
  to
• 33:08
  the
• 33:08
  next
• 33:08
  owner.
• 33:09
  Getting
• 33:09
  the
• 33:09
  financial
• 33:09
  switched
• 33:10
  over
• 33:10
  and
• 33:10
  pricing
• 33:11
  and
• 33:11
  rules
• 33:11
  and
• 33:11
  in
• 33:11
  some
• 33:12
  of
• 33:12
  the
• 33:12
  different
• 33:12
  setups.
• 33:13
  And
• 33:13
  it's
• 33:13
  happening
• 33:13
  a
• 33:13
  lot.
• 33:14
  Like
• 33:14
  it's
• 33:14
  not
• 33:14
  like
• 33:14
  it's,
• 33:15
  one
• 33:15
  a
• 33:15
  week
• 33:16
  or
• 33:16
  something
• 33:16
  like
• 33:16
  that.
• 33:17
  It's,
• 33:17
  for
• 33:17
  us
• 33:17
  even
• 33:18
  it's
• 33:18
  probably.
• 33:19
  Four
• 33:20
  or
• 33:20
  five
• 33:20
  or
• 33:20
  six
• 33:21
  every
• 33:21
  week.
• 33:22
  And
• 33:22
  it's
• 33:22
  been
• 33:22
  like
• 33:23
  that
• 33:23
  for
• 33:23
  a
• 33:23
  month
• 33:23
  and
• 33:23
  we
• 33:23
  have
• 33:24
  another
• 33:25
  30
• 33:25
  or
• 33:25
  45
• 33:26
  days
• 33:26
  and
• 33:26
  more
• 33:26
  transitions,
• 33:27
  which
• 33:27
  I,
• 33:28
  again,
• 33:28
  to
• 33:28
  me
• 33:28
  it's
• 33:29
  an
• 33:29
  exciting,
• 33:29
  cause
• 33:29
  it's
• 33:29
  not
• 33:30
  just
• 33:30
  all,
• 33:31
  big
• 33:31
  corporate
• 33:31
  taking
• 33:32
  over.
• 33:32
  There's
• 33:32
  a
• 33:32
  lot
• 33:32
  of
• 33:32
  just
• 33:33
  new
• 33:33
  people
• 33:33
  getting
• 33:34
  into
• 33:34
  this
• 33:34
  space
• 33:35
  for
• 33:35
  the
• 33:35
  first
• 33:35
  time
• 33:35
  with,
• 33:36
  eyes
• 33:36
  wide
• 33:36
  open
• 33:37
  and
• 33:37
  really
• 33:37
  excited.
• 33:38
  And
• 33:38
  they're
• 33:38
  taking
• 33:39
  it
• 33:39
  from
• 33:39
  a
• 33:39
  different
• 33:39
  lens,
• 33:40
  what
• 33:40
  they
• 33:40
  think
• 33:40
  is
• 33:40
  possible
• 33:41
  with
• 33:41
  these
• 33:41
  properties.
• 33:42
  And
• 33:42
  there's
• 33:42
  a
• 33:42
  lot
• 33:43
  of
• 33:43
  people
• 33:43
  out
• 33:43
  there
• 33:43
  that
• 33:43
  want
• 33:43
  to
• 33:43
  sell
• 33:44
  to
• 33:44
  that
• 33:44
  type
• 33:44
  of
• 33:44
  person.
• 33:45
  Right?
• 33:45
  There's
• 33:45
  a
• 33:45
  lot
• 33:46
  of
• 33:46
  people
• 33:46
  that
• 33:46
  don't
• 33:46
  want
• 33:46
  to
• 33:46
  sell
• 33:47
  necessarily
• 33:48
  just
• 33:48
  to
• 33:48
  the
• 33:48
  big
• 33:49
  corporate
• 33:49
  and
• 33:49
  they
• 33:49
  want
• 33:49
  to
• 33:49
  sell
• 33:50
  to
• 33:50
  another
• 33:51
  family.
• 33:51
  That's
• 33:51
  going
• 33:51
  to
• 33:51
  come
• 33:52
  in
• 33:52
  and
• 33:52
  run
• 33:52
  it
• 33:52
  similar
• 33:53
  to
• 33:53
  theirs,
• 33:53
  but
• 33:53
  it's
• 33:53
  also
• 33:54
  a
• 33:54
  good
• 33:54
  time
• 33:54
  for
• 33:54
  them
• 33:54
  to
• 33:54
  transition
• 33:55
  out.
• 33:55
  To
• 33:55
  me,
• 33:56
  like
• 33:56
  I
• 33:56
  said,
• 33:56
  I
• 33:56
  think
• 33:56
  there's
• 33:57
  the
• 33:57
  best
• 33:57
  of
• 33:57
  both
• 33:57
  worlds,
• 33:58
  right?
• 33:58
  I
• 33:58
  think
• 33:58
  there's
• 33:58
  good
• 33:59
  of
• 33:59
  big
• 34:00
  corporate
• 34:00
  companies
• 34:00
  come
• 34:01
  in
• 34:01
  or
• 34:01
  bigger
• 34:01
  companies
• 34:01
  coming
• 34:02
  in.
• 34:02
  And
• 34:03
  making
• 34:03
  the
• 34:03
  property
• 34:04
  that
• 34:04
  much
• 34:04
  better.
• 34:05
  And
• 34:05
  then
• 34:05
  there's
• 34:05
  also
• 34:06
  like
• 34:06
  the
• 34:06
  idea
• 34:07
  of
• 34:07
  another
• 34:07
  mom
• 34:08
  and
• 34:08
  pop
• 34:08
  coming
• 34:08
  in
• 34:08
  and
• 34:08
  taking
• 34:09
  over
• 34:09
  a
• 34:09
  motto
• 34:09
  and
• 34:09
  pop
• 34:10
  and
• 34:10
  putting
• 34:10
  their
• 34:11
  spin
• 34:11
  on
• 34:11
  it,
• 34:11
  putting
• 34:12
  their
• 34:12
  marketing
• 34:13
  ideas,
• 34:13
  putting
• 34:13
  their
• 34:14
  creativity
• 34:14
  into
• 34:15
  it,
• 34:15
  to
• 34:15
  create
• 34:15
  another
• 34:16
  unique
• 34:16
  experience
• 34:17
  for
• 34:18
  either
• 34:18
  the
• 34:18
  same
• 34:18
  people
• 34:18
  that
• 34:18
  have
• 34:19
  been
• 34:19
  going
• 34:19
  there
• 34:19
  forever
• 34:19
  or
• 34:19
  for
• 34:20
  that
• 34:21
  many
• 34:21
  new
• 34:21
  people.
• 34:22
  Yeah.
• 34:22
  When
• 34:22
  you
• 34:22
  talk
• 34:22
  about
• 34:22
  like
• 34:23
  an
• 34:23
  RV,
• 34:23
  it's
• 34:23
  interesting.
• 34:23
  Cause
• 34:24
  I
• 34:24
  just,
• 34:24
  I
• 34:24
  took
• 34:24
  this
• 34:24
  trip
• 34:25
  and
• 34:25
  then
• 34:25
  I
• 34:26
  immediately
• 34:26
  started
• 34:27
  running
• 34:27
  the
• 34:27
  numbers
• 34:27
  in
• 34:27
  my
• 34:28
  head,
• 34:28
  whereas
• 34:28
  I
• 34:28
  was
• 34:28
  like,
• 34:28
  okay,
• 34:29
  I
• 34:29
  do
• 34:29
  40
• 34:30
  or
• 34:30
  50
• 34:30
  nights
• 34:31
  a
• 34:31
  year,
• 34:32
  just
• 34:32
  chasing
• 34:33
  my
• 34:33
  kids
• 34:33
  around
• 34:33
  with
• 34:33
  these
• 34:34
  baseball
• 34:34
  and
• 34:34
  volleyball
• 34:35
  tournaments.
• 34:35
  I'm
• 34:35
  like,
• 34:36
  is
• 34:36
  it
• 34:36
  cheaper
• 34:37
  for
• 34:37
  me
• 34:37
  to
• 34:37
  just
• 34:37
  buy
• 34:38
  an
• 34:38
  RV
• 34:39
  and
• 34:39
  do
• 34:39
  this?
• 34:40
  It
• 34:40
  doesn't
• 34:40
  seem
• 34:40
  like
• 34:41
  I'm
• 34:41
  going
• 34:41
  on,
• 34:41
  like
• 34:41
  running
• 34:41
  the
• 34:41
  numbers
• 34:42
  in
• 34:42
  my
• 34:42
  head.
• 34:42
  I'm
• 34:42
  like,
• 34:42
  this
• 34:43
  is
• 34:43
  a
• 34:43
  heck
• 34:43
  of
• 34:43
  a
• 34:43
  lot
• 34:43
  more
• 34:44
  convinced.
• 34:45
  And
• 34:45
  I'm
• 34:45
  looking,
• 34:45
  of
• 34:45
  course,
• 34:46
  I'm
• 34:46
  looking
• 34:46
  at
• 34:46
  our
• 34:46
  app.
• 34:46
  We
• 34:46
  work,
• 34:47
  we
• 34:47
  stay
• 34:47
  here
• 34:47
  around
• 34:48
  in
• 34:48
  these
• 34:48
  different
• 34:48
  Midwest
• 34:49
  areas
• 34:49
  where
• 34:49
  we're
• 34:49
  staying
• 34:50
  and
• 34:50
  the
• 34:51
  numbers
• 34:51
  come
• 34:51
  out
• 34:51
  fairly
• 34:52
  close,
• 34:52
  or
• 34:52
  instead
• 34:53
  of
• 34:53
  me
• 34:53
  dragging
• 34:54
  and
• 34:54
  staying
• 34:54
  at
• 34:55
  a
• 34:55
  hotel,
• 34:55
  the
• 34:55
  60,
• 34:56
  70
• 34:56
  nights
• 34:57
  a
• 34:57
  year,
• 34:57
  just
• 34:57
  for
• 34:57
  the
• 34:58
  sports
• 34:58
  things,
• 34:58
  I'm
• 34:58
  like
• 34:59
  for
• 35:00
  the
• 35:00
  next
• 35:00
  three
• 35:00
  years,
• 35:01
  this
• 35:01
  is
• 35:01
  going
• 35:01
  to
• 35:01
  be
• 35:01
  my
• 35:02
  life
• 35:02
  on
• 35:02
  the
• 35:02
  weekends.
• 35:03
  It
• 35:03
  might
• 35:03
  be
• 35:04
  cheaper
• 35:04
  for
• 35:04
  me
• 35:04
  to
• 35:04
  actually
• 35:05
  get
• 35:05
  an
• 35:05
  RV
• 35:05
  right
• 35:05
  now,
• 35:05
  even
• 35:06
  though
• 35:06
  they're
• 35:06
  so
• 35:06
  incredibly
• 35:07
  overpriced,
• 35:07
  but
• 35:08
  they're
• 35:08
  there,
• 35:09
  there's
• 35:09
  all
• 35:09
  different,
• 35:09
  positive
• 35:10
  things
• 35:10
  going
• 35:11
  on
• 35:11
  of
• 35:11
  this,
• 35:11
  out
• 35:12
  of
• 35:12
  this
• 35:12
  industry,
• 35:12
  randy,
• 35:12
  please
• 35:14
  chime
• 35:14
  in
• 35:14
  on
• 35:14
  that,
• 35:15
  Casey,
• 35:15
  I
• 35:15
  think
• 35:15
  you're
• 35:15
  right.
• 35:16
  And
• 35:16
  your
• 35:16
  view,
• 35:16
  and
• 35:17
  it's
• 35:17
  one
• 35:17
  of
• 35:18
  the
• 35:18
  interesting
• 35:18
  things
• 35:18
  about
• 35:19
  it
• 35:19
  because
• 35:19
  the
• 35:19
  calculations
• 35:20
  you
• 35:20
  just
• 35:20
  went
• 35:21
  through
• 35:21
  or
• 35:21
  what
• 35:21
  other
• 35:21
  people
• 35:22
  are
• 35:22
  going
• 35:22
  through
• 35:22
  too,
• 35:22
  that
• 35:23
  haven't
• 35:23
  been
• 35:23
  in
• 35:23
  the
• 35:23
  industry
• 35:24
  before.
• 35:24
  It's
• 35:24
  exactly
• 35:25
  that
• 35:25
  same
• 35:25
  thing.
• 35:26
  Now
• 35:26
  that
• 35:26
  I've
• 35:27
  tried
• 35:27
  this,
• 35:27
  wow.
• 35:28
  Maybe
• 35:28
  I
• 35:28
  do
• 35:28
  want
• 35:28
  to
• 35:28
  buy
• 35:28
  one
• 35:29
  of
• 35:29
  these.
• 35:29
  And
• 35:29
  we're
• 35:29
  seeing
• 35:30
  that
• 35:30
  translate
• 35:30
  into
• 35:30
  sales.
• 35:31
  RV
• 35:31
  sales
• 35:32
  are
• 35:32
  completely
• 35:32
  through
• 35:32
  the
• 35:32
  roof
• 35:33
  because
• 35:33
  people
• 35:33
  try
• 35:34
  something
• 35:34
  experientials
• 35:35
  first
• 35:35
  and
• 35:35
  it
• 35:35
  becomes
• 35:36
  a
• 35:36
  lifestyle
• 35:36
  pivot
• 35:37
  thereafter,
• 35:38
  and
• 35:38
  now
• 35:38
  I'm
• 35:38
  in
• 35:38
  the
• 35:39
  space.
• 35:39
  Now
• 35:39
  I'm
• 35:39
  an
• 35:39
  RV
• 35:40
  or
• 35:40
  now
• 35:40
  I'm
• 35:40
  a
• 35:40
  glamour
• 35:41
  and
• 35:41
  now
• 35:41
  I'm
• 35:41
  doing
• 35:42
  this
• 35:42
  stuff.
• 35:42
  I
• 35:42
  think
• 35:43
  what
• 35:43
  you're
• 35:43
  doing
• 35:43
  is
• 35:43
  what
• 35:44
  a
• 35:44
  lot
• 35:44
  of
• 35:44
  people
• 35:44
  are
• 35:44
  doing.
• 35:45
  And
• 35:45
  mark
• 35:45
  to
• 35:46
  your
• 35:46
  question,
• 35:46
  I
• 35:46
  think
• 35:46
  it's
• 35:47
  fascinating
• 35:48
  question.
• 35:48
  Where
• 35:48
  does
• 35:48
  this
• 35:48
  go
• 35:49
  from
• 35:49
  here?
• 35:51
  If
• 35:51
  I
• 35:51
  had
• 35:51
  to
• 35:51
  look
• 35:52
  at
• 35:52
  my
• 35:52
  crystal
• 35:52
  ball,
• 35:53
  which
• 35:53
  is
• 35:53
  notoriously
• 35:54
  foggy,
• 35:55
  you
• 35:56
  can
• 35:56
  maintain
• 35:57
  this
• 35:57
  kind
• 35:57
  of
• 35:57
  a
• 35:57
  vertical
• 35:58
  rise
• 35:58
  forever,
• 35:59
  right?
• 35:59
  You
• 36:00
  saw
• 36:00
  this
• 36:00
  on
• 36:00
  precedent
• 36:01
  and
• 36:01
  growth.
• 36:02
  There's
• 36:02
  no
• 36:02
  way
• 36:02
  that's
• 36:02
  sustainable.
• 36:03
  Economics
• 36:04
  tells
• 36:04
  us
• 36:04
  that
• 36:04
  isn't,
• 36:05
  there's
• 36:05
  a
• 36:05
  leveling
• 36:06
  off
• 36:06
  at
• 36:06
  some
• 36:06
  point,
• 36:07
  but
• 36:08
  I
• 36:08
  think
• 36:08
  that's
• 36:08
  driven
• 36:09
  largely
• 36:09
  by
• 36:09
  consumer
• 36:10
  preference.
• 36:11
  And
• 36:11
  this,
• 36:11
  I
• 36:11
  go
• 36:11
  back
• 36:11
  again
• 36:12
  to
• 36:12
  elevating
• 36:12
  the
• 36:12
  guest
• 36:13
  experience
• 36:13
  that
• 36:14
  the
• 36:14
  guests
• 36:14
  are
• 36:14
  going
• 36:14
  to
• 36:15
  tell
• 36:15
  you
• 36:15
  what
• 36:16
  they're
• 36:16
  preferring
• 36:17
  and
• 36:17
  diversifying
• 36:18
  product
• 36:18
  and
• 36:18
  having
• 36:19
  multiple
• 36:19
  different
• 36:19
  things
• 36:20
  to
• 36:20
  offer
• 36:20
  is
• 36:20
  going
• 36:20
  to
• 36:20
  be
• 36:21
  some
• 36:21
  trial
• 36:21
  and
• 36:21
  error.
• 36:22
  Is
• 36:22
  it
• 36:22
  domes?
• 36:22
  Is
• 36:23
  it
• 36:23
  going
• 36:23
  to
• 36:23
  be
• 36:23
  glamping?
• 36:24
  Tents
• 36:24
  is
• 36:24
  it's
• 36:24
  just
• 36:24
  straight
• 36:25
  RV
• 36:25
  sides.
• 36:26
  That's
• 36:27
  some
• 36:27
  of
• 36:27
  the
• 36:27
  unsophistication
• 36:28
  about
• 36:29
  what
• 36:29
  ought
• 36:30
  to
• 36:30
  be,
• 36:30
  what
• 36:30
  should
• 36:31
  it
• 36:31
  be?
• 36:31
  What
• 36:31
  are
• 36:31
  the
• 36:32
  demand
• 36:32
  drivers
• 36:33
  and
• 36:33
  whatnot.
• 36:33
  Your
• 36:33
  guests
• 36:34
  are
• 36:34
  gonna
• 36:34
  tell
• 36:34
  you
• 36:34
  that.
• 36:35
  And
• 36:35
  let's
• 36:35
  face
• 36:35
  it.
• 36:35
  Camping
• 36:36
  has
• 36:36
  been
• 36:36
  around.
• 36:37
  And
• 36:37
  it's
• 36:37
  going
• 36:37
  to
• 36:38
  be
• 36:38
  around
• 36:38
  forever.
• 36:38
  People
• 36:39
  want
• 36:39
  to
• 36:39
  experience
• 36:40
  the
• 36:40
  outdoors.
• 36:41
  They
• 36:41
  want
• 36:41
  to
• 36:41
  do
• 36:42
  outdoor
• 36:42
  hospitality.
• 36:43
  What
• 36:43
  are
• 36:44
  those
• 36:44
  products?
• 36:45
  When
• 36:45
  does
• 36:45
  it
• 36:45
  hit
• 36:45
  a
• 36:45
  saturation
• 36:46
  point
• 36:47
  for
• 36:47
  this
• 36:47
  type
• 36:47
  of
• 36:47
  product
• 36:48
  or
• 36:48
  that?
• 36:49
  I
• 36:49
  don't
• 36:49
  think
• 36:49
  we're
• 36:49
  there
• 36:49
  yet
• 36:50
  at
• 36:50
  all.
• 36:50
  I
• 36:50
  think
• 36:51
  there's
• 36:51
  still
• 36:51
  a
• 36:51
  lot
• 36:52
  of
• 36:52
  learning
• 36:52
  to
• 36:52
  happen
• 36:53
  and
• 36:53
  it's
• 36:53
  still
• 36:54
  the
• 36:54
  wild
• 36:54
  west
• 36:54
  out
• 36:55
  there.
• 36:55
  It's
• 36:56
  going
• 36:56
  to
• 36:56
  level
• 36:56
  off,
• 36:57
  the
• 36:57
  smart
• 36:57
  uppers
• 36:57
  are
• 36:58
  going
• 36:58
  to
• 36:58
  say,
• 36:58
  ah,
• 36:59
  this
• 36:59
  niche
• 36:59
  makes
• 36:59
  sense
• 37:00
  or
• 37:00
  this
• 37:00
  type
• 37:00
  of
• 37:00
  accommodation
• 37:01
  makes
• 37:01
  sense.
• 37:02
  Let's
• 37:02
  try
• 37:02
  that.
• 37:03
  And
• 37:03
  after
• 37:03
  that,
• 37:03
  let's
• 37:04
  face
• 37:04
  it.
• 37:04
  It's
• 37:04
  up
• 37:04
  to
• 37:04
  your
• 37:04
  customers.
• 37:05
  They're
• 37:05
  going
• 37:06
  to
• 37:06
  tell
• 37:06
  you
• 37:06
  if
• 37:06
  you
• 37:06
  got
• 37:06
  it
• 37:06
  right
• 37:07
  or
• 37:07
  not.
• 37:08
  Okay.
• 37:08
  That's
• 37:08
  the
• 37:08
  fascinating
• 37:09
  thing.
• 37:09
  I
• 37:09
  think
• 37:09
  with
• 37:09
  the
• 37:09
  outdoor
• 37:10
  hospitality
• 37:11
  industry,
• 37:11
  it's
• 37:11
  the
• 37:11
  beauty
• 37:12
  for
• 37:12
  me
• 37:12
  that
• 37:12
  I'm
• 37:12
  going
• 37:12
  to
• 37:12
  have
• 37:12
  so
• 37:13
  much
• 37:13
  fun
• 37:13
  watching
• 37:14
  all
• 37:14
  of
• 37:14
  this
• 37:14
  happen.
• 37:14
  As
• 37:15
  I
• 37:15
  know,
• 37:15
  many
• 37:15
  of
• 37:15
  you
• 37:15
  are
• 37:16
  is
• 37:16
  that
• 37:16
  it
• 37:16
  can
• 37:16
  go
• 37:16
  in
• 37:17
  so
• 37:17
  many
• 37:17
  different
• 37:17
  directions
• 37:18
  based
• 37:18
  on
• 37:18
  all
• 37:18
  this
• 37:18
  conversation
• 37:19
  that
• 37:19
  you
• 37:19
  guys
• 37:19
  have
• 37:19
  had,
• 37:20
  right?
• 37:20
  There's
• 37:20
  only
• 37:20
  so
• 37:21
  much
• 37:21
  you
• 37:21
  can
• 37:21
  do
• 37:21
  with
• 37:21
  selling.
• 37:22
  Hilton
• 37:22
  garden
• 37:23
  Inn
• 37:23
  or
• 37:23
  Fairfield
• 37:24
  Inn
• 37:24
  or
• 37:24
  whatever,
• 37:25
  right?
• 37:25
  You
• 37:25
  can't
• 37:25
  really
• 37:26
  change
• 37:26
  that.
• 37:26
  And
• 37:26
  so
• 37:27
  you're
• 37:27
  selling
• 37:27
  it
• 37:28
  to
• 37:28
  a
• 37:28
  big
• 37:28
  hedge
• 37:28
  fund
• 37:29
  or
• 37:29
  selling
• 37:29
  it
• 37:29
  to
• 37:29
  an
• 37:29
  individual
• 37:30
  owner,
• 37:30
  but
• 37:30
  they're
• 37:30
  really
• 37:31
  not
• 37:31
  going
• 37:31
  to
• 37:31
  change
• 37:31
  it.
• 37:31
  Whereas
• 37:32
  you,
• 37:32
  as
• 37:33
  this
• 37:33
  owner
• 37:33
  can,
• 37:34
  as
• 37:34
  you
• 37:34
  guys
• 37:35
  have
• 37:35
  described,
• 37:35
  pick
• 37:36
  and
• 37:36
  choose,
• 37:36
  who
• 37:36
  do
• 37:36
  I
• 37:36
  want
• 37:37
  to
• 37:37
  buy
• 37:37
  this
• 37:37
  property?
• 37:37
  Do
• 37:38
  I
• 37:38
  want
• 37:38
  it
• 37:38
  to
• 37:38
  be
• 37:38
  a
• 37:38
  big
• 37:38
  management
• 37:39
  company?
• 37:39
  Do
• 37:39
  you
• 37:39
  want
• 37:39
  it
• 37:40
  to
• 37:40
  be
• 37:40
  somebody
• 37:40
  who
• 37:40
  has
• 37:40
  a
• 37:40
  new
• 37:40
  vision
• 37:41
  for
• 37:41
  what
• 37:41
  I've
• 37:42
  spent
• 37:42
  the
• 37:42
  last
• 37:42
  30
• 37:42
  years
• 37:43
  of
• 37:43
  my
• 37:43
  life
• 37:43
  building?
• 37:44
  Do
• 37:44
  I
• 37:44
  want
• 37:44
  to
• 37:44
  do
• 37:45
  it
• 37:45
  myself
• 37:45
  now
• 37:45
  that
• 37:45
  the
• 37:46
  industry
• 37:46
  has
• 37:46
  become
• 37:46
  more
• 37:47
  popular
• 37:47
  and
• 37:47
  there's
• 37:47
  more
• 37:48
  financing
• 37:48
  alternatives?
• 37:49
  Maybe
• 37:49
  to
• 37:49
  me
• 37:50
  it's
• 37:50
  available
• 37:50
  to
• 37:50
  me.
• 37:51
  And
• 37:51
  then
• 37:51
  Ruben
• 37:51
  said,
• 37:52
  figuring
• 37:52
  out
• 37:52
  that
• 37:52
  challenge
• 37:53
  of
• 37:53
  what
• 37:53
  kind
• 37:53
  of
• 37:53
  demographic
• 37:54
  or
• 37:54
  market
• 37:54
  you
• 37:54
  target.
• 37:55
  Whereas
• 37:56
  on
• 37:56
  a
• 37:56
  loft
• 37:56
  hotel
• 37:57
  is
• 37:57
  targeting
• 37:58
  that
• 37:58
  younger
• 37:59
  millennial
• 37:59
  type
• 38:00
  demographic
• 38:00
  and
• 38:00
  apologies,
• 38:01
  do
• 38:01
  a
• 38:01
  lot
• 38:01
  to
• 38:01
  focus,
• 38:02
  push
• 38:02
  it
• 38:02
  that
• 38:02
  I
• 38:02
  just
• 38:02
  made
• 38:03
  it
• 38:03
  all
• 38:03
  up.
• 38:03
  You
• 38:03
  don't
• 38:03
  really
• 38:03
  know
• 38:03
  but
• 38:04
  I've
• 38:04
  stayed
• 38:04
  at
• 38:04
  a
• 38:04
  couple
• 38:04
  and
• 38:04
  that's
• 38:05
  how
• 38:05
  I
• 38:05
  feel
• 38:05
  like
• 38:05
  this.
• 38:07
  But,
• 38:07
  we
• 38:07
  were
• 38:07
  talking
• 38:08
  to
• 38:08
  a
• 38:08
  couple
• 38:08
  of
• 38:08
  clients
• 38:08
  before
• 38:09
  who
• 38:09
  like
• 38:10
  about
• 38:10
  neighborhoods
• 38:11
  around
• 38:11
  your
• 38:11
  park
• 38:12
  about,
• 38:12
  they
• 38:12
  wanted
• 38:12
  to
• 38:12
  turn
• 38:13
  a
• 38:13
  park
• 38:13
  into
• 38:13
  a
• 38:13
  glamping
• 38:14
  up
• 38:14
  and
• 38:14
  they
• 38:14
  wanted
• 38:14
  to
• 38:14
  focus
• 38:15
  it
• 38:15
  on
• 38:15
  just
• 38:15
  one
• 38:15
  specific
• 38:16
  theme.
• 38:16
  And
• 38:16
  they
• 38:16
  had
• 38:16
  a
• 38:16
  ton
• 38:17
  of
• 38:17
  land
• 38:18
  and
• 38:18
  they
• 38:18
  said,
• 38:18
  and
• 38:18
  I
• 38:18
  said
• 38:19
  the
• 38:19
  same
• 38:19
  questions
• 38:19
  came
• 38:20
  up
• 38:20
  that
• 38:20
  Ruben
• 38:20
  brought
• 38:20
  up
• 38:20
  or
• 38:20
  what
• 38:21
  if
• 38:21
  they
• 38:21
  want
• 38:21
  to
• 38:21
  stay
• 38:21
  someplace
• 38:22
  else
• 38:22
  next
• 38:23
  time,
• 38:23
  because
• 38:23
  they
• 38:23
  don't
• 38:23
  want
• 38:23
  that
• 38:23
  same
• 38:24
  CIMIC
• 38:24
  themed
• 38:25
  experience.
• 38:25
  But
• 38:25
  if
• 38:26
  you
• 38:26
  can
• 38:26
  create
• 38:26
  neighborhoods
• 38:26
  with
• 38:27
  different
• 38:27
  themes,
• 38:27
  you
• 38:27
  drive
• 38:28
  loyalty
• 38:28
  and
• 38:28
  people
• 38:29
  come
• 38:29
  back
• 38:29
  and
• 38:29
  have
• 38:29
  different
• 38:29
  experiences.
• 38:30
  And
• 38:31
  I
• 38:31
  think
• 38:31
  we're
• 38:31
  just
• 38:32
  really
• 38:32
  scratching
• 38:32
  the
• 38:32
  surface
• 38:33
  of
• 38:33
  what's
• 38:33
  possible
• 38:33
  here.
• 38:35
  It's
• 38:35
  interesting
• 38:36
  that
• 38:36
  the
• 38:37
  number
• 38:38
  we
• 38:38
  see
• 38:38
  a
• 38:38
  lot
• 38:38
  of
• 38:38
  management
• 38:39
  groups
• 38:40
  or
• 38:40
  large
• 38:40
  ownership
• 38:41
  groups
• 38:41
  that
• 38:41
  manage
• 38:41
  the
• 38:41
  group
• 38:42
  ownership
• 38:42
  groups
• 38:43
  coming
• 38:43
  in
• 38:43
  a
• 38:43
  lot
• 38:43
  of
• 38:44
  really
• 38:44
  big
• 38:44
  money
• 38:45
  coming
• 38:45
  in.
• 38:45
  But
• 38:45
  I
• 38:45
  feel
• 38:46
  like
• 38:46
  for
• 38:47
  the
• 38:47
  number
• 38:47
  of.
• 38:49
  People
• 38:49
  that
• 38:49
  we
• 38:50
  talk
• 38:50
  to
• 38:50
  on
• 38:51
  a
• 38:51
  weekly,
• 38:51
  monthly
• 38:52
  basis
• 38:52
  that
• 38:52
  are
• 38:52
  coming
• 38:53
  from
• 38:53
  these
• 38:53
  larger
• 38:53
  groups
• 38:54
  where
• 38:54
  maybe
• 38:54
  they've
• 38:54
  been
• 38:55
  in
• 38:55
  mobile
• 38:55
  home
• 38:56
  or
• 38:56
  multi-family
• 38:57
  units
• 38:57
  or
• 38:57
  storage
• 38:58
  units,
• 38:58
  and
• 38:58
  they're
• 38:58
  getting
• 38:58
  into
• 38:59
  the
• 38:59
  RV
• 38:59
  space,
• 38:59
  or
• 39:00
  they're
• 39:00
  just
• 39:00
  trying
• 39:00
  to
• 39:00
  expand
• 39:01
  their
• 39:01
  RV
• 39:02
  portfolio.
• 39:02
  We
• 39:03
  talked
• 39:03
  to
• 39:03
  just
• 39:03
  as
• 39:03
  many
• 39:04
  new
• 39:05
  private
• 39:05
  owners
• 39:06
  about
• 39:06
  the
• 39:06
  same
• 39:06
  things.
• 39:07
  And
• 39:07
  so
• 39:07
  it's
• 39:07
  interesting
• 39:08
  that
• 39:08
  even
• 39:08
  though
• 39:08
  there's
• 39:08
  this
• 39:08
  big
• 39:09
  influx
• 39:09
  of
• 39:09
  all
• 39:09
  of
• 39:09
  this
• 39:09
  larger
• 39:10
  money
• 39:10
  coming
• 39:10
  in,
• 39:11
  there's
• 39:11
  just
• 39:12
  as
• 39:12
  much
• 39:12
  interest
• 39:13
  and
• 39:13
  influx
• 39:14
  of
• 39:14
  the
• 39:14
  smaller
• 39:15
  mom
• 39:15
  and
• 39:15
  pops
• 39:15
  coming
• 39:15
  in,
• 39:16
  buying
• 39:16
  parks
• 39:16
  or
• 39:16
  developing
• 39:17
  new
• 39:17
  parks.
• 39:17
  They
• 39:17
  have
• 39:18
  land
• 39:18
  and
• 39:18
  they
• 39:19
  are
• 39:19
  like
• 39:19
  I
• 39:19
  can
• 39:19
  get
• 39:20
  a
• 39:20
  slice
• 39:20
  of
• 39:20
  this
• 39:20
  too.
• 39:20
  I
• 39:20
  already
• 39:21
  have
• 39:21
  the
• 39:21
  land.
• 39:21
  So
• 39:21
  Lexi
• 39:22
  would
• 39:22
  what
• 39:22
  it
• 39:22
  takes
• 39:22
  to
• 39:23
  develop
• 39:23
  it.
• 39:23
  So
• 39:24
  that's
• 39:24
  been
• 39:24
  interesting.
• 39:26
  As
• 39:26
  well.
• 39:26
  Yeah,
• 39:26
  and
• 39:27
  that
• 39:27
  one
• 39:27
  Facebook
• 39:27
  group,
• 39:28
  we
• 39:28
  run
• 39:28
  the,
• 39:28
  get
• 39:28
  into
• 39:28
  the
• 39:29
  campground
• 39:29
  business
• 39:30
  who
• 39:30
  just
• 39:30
  passed
• 39:30
  over
• 39:31
  2000
• 39:31
  members.
• 39:32
  And
• 39:32
  what
• 39:32
  I've
• 39:32
  noticed
• 39:33
  as
• 39:33
  a
• 39:33
  trend
• 39:33
  over
• 39:33
  the
• 39:33
  last
• 39:34
  two
• 39:34
  to
• 39:34
  three
• 39:35
  months
• 39:35
  is
• 39:35
  a
• 39:35
  large
• 39:35
  volume
• 39:36
  of
• 39:36
  the
• 39:36
  people
• 39:36
  that
• 39:37
  are
• 39:37
  coming
• 39:37
  in
• 39:37
  there
• 39:37
  to
• 39:37
  learn
• 39:38
  about
• 39:38
  getting
• 39:38
  into
• 39:38
  the
• 39:38
  industry
• 39:39
  are
• 39:40
  coming
• 39:40
  from
• 39:40
  industries
• 39:41
  that
• 39:41
  have
• 39:41
  been
• 39:41
  most
• 39:42
  impacted
• 39:42
  by
• 39:43
  the
• 39:43
  various
• 39:43
  regulations
• 39:44
  related
• 39:44
  to
• 39:44
  COVID.
• 39:44
  So
• 39:45
  primarily,
• 39:46
  and
• 39:46
  I'm
• 39:46
  not
• 39:46
  getting
• 39:47
  political
• 39:47
  here,
• 39:47
  factual
• 39:48
  a
• 39:48
  lot
• 39:49
  of
• 39:49
  the
• 39:49
  vaccine
• 39:49
  mandates.
• 39:50
  So
• 39:50
  seen
• 39:50
  a
• 39:50
  lot
• 39:50
  of
• 39:51
  healthcare
• 39:51
  workers,
• 39:51
  a
• 39:51
  lot
• 39:52
  of
• 39:52
  police
• 39:52
  and
• 39:52
  firefighters,
• 39:53
  a
• 39:53
  lot
• 39:54
  of
• 39:54
  those
• 39:54
  type
• 39:54
  of
• 39:54
  industries
• 39:55
  where
• 39:55
  they've
• 39:56
  been
• 39:57
  forced
• 39:58
  to
• 39:58
  do
• 39:58
  something
• 39:58
  they
• 39:58
  don't
• 39:58
  want
• 39:58
  to
• 39:58
  do,
• 39:59
  or
• 39:59
  actually
• 39:59
  leaving
• 39:59
  those
• 40:00
  industries
• 40:01
  and
• 40:01
  coming
• 40:01
  over
• 40:01
  to
• 40:01
  something
• 40:01
  they
• 40:01
  enjoy,
• 40:02
  the
• 40:02
  outdoors,
• 40:03
  the
• 40:03
  space.
• 40:03
  And
• 40:03
  so
• 40:03
  we're
• 40:03
  seeing
• 40:03
  a
• 40:04
  lot
• 40:04
  of
• 40:04
  that
• 40:04
  trend,
• 40:05
  which
• 40:05
  goes
• 40:05
  back
• 40:05
  to
• 40:06
  early
• 40:06
  on
• 40:06
  in
• 40:06
  the
• 40:06
  pandemic.
• 40:07
  I
• 40:07
  think
• 40:07
  the
• 40:07
  joke
• 40:08
  is
• 40:08
  the
• 40:08
  worst
• 40:09
  thing
• 40:09
  about
• 40:09
  the
• 40:09
  first
• 40:09
  two
• 40:09
  weeks
• 40:10
  to
• 40:10
  stop
• 40:10
  the
• 40:10
  spread
• 40:10
  has
• 40:11
  been
• 40:11
  the
• 40:11
  last
• 40:11
  two
• 40:11
  years.
• 40:12
  But
• 40:12
  when
• 40:12
  you
• 40:12
  go
• 40:12
  back
• 40:12
  to
• 40:12
  that,
• 40:13
  that
• 40:13
  first
• 40:13
  two
• 40:13
  week
• 40:13
  period,
• 40:14
  One
• 40:15
  of
• 40:15
  the
• 40:15
  things
• 40:15
  I
• 40:15
  said
• 40:15
  to
• 40:15
  a
• 40:15
  lot
• 40:15
  of
• 40:16
  folks
• 40:16
  is
• 40:16
  that
• 40:16
  what's
• 40:16
  going
• 40:16
  to
• 40:17
  happen
• 40:17
  as
• 40:17
  a
• 40:17
  result
• 40:17
  of
• 40:17
  this
• 40:18
  is
• 40:18
  people
• 40:18
  are
• 40:18
  going
• 40:18
  to
• 40:18
  fundamentally
• 40:19
  look
• 40:19
  at
• 40:19
  their
• 40:19
  lifestyles
• 40:20
  the
• 40:20
  way
• 40:20
  they
• 40:20
  live,
• 40:21
  what
• 40:21
  they
• 40:21
  do
• 40:21
  and
• 40:21
  how
• 40:21
  they
• 40:21
  interact
• 40:22
  with
• 40:22
  their
• 40:22
  families.
• 40:23
  And
• 40:23
  they're
• 40:23
  getting
• 40:23
  either
• 40:23
  say,
• 40:24
  I
• 40:24
  like
• 40:24
  how
• 40:24
  things
• 40:24
  are,
• 40:25
  or
• 40:25
  I
• 40:25
  don't.
• 40:26
  And
• 40:26
  if
• 40:26
  they
• 40:26
  say
• 40:27
  they
• 40:27
  don't,
• 40:28
  they're
• 40:28
  going
• 40:28
  to
• 40:28
  change
• 40:28
  it.
• 40:28
  And
• 40:29
  so
• 40:29
  I
• 40:29
  think
• 40:29
  we're
• 40:29
  going
• 40:29
  to
• 40:29
  start
• 40:29
  seeing
• 40:30
  more
• 40:30
  of
• 40:30
  that
• 40:30
  change
• 40:31
  happening
• 40:31
  here.
• 40:31
  As
• 40:32
  we
• 40:32
  go
• 40:32
  into
• 40:32
  20,
• 40:32
  22
• 40:33
  and
• 40:33
  beyond
• 40:34
  where
• 40:34
  these
• 40:34
  people
• 40:34
  who
• 40:35
  never
• 40:35
  even
• 40:35
  thought
• 40:35
  about
• 40:36
  getting
• 40:36
  in
• 40:36
  our
• 40:36
  industry
• 40:37
  have
• 40:37
  said,
• 40:37
  forget
• 40:37
  it,
• 40:38
  too,
• 40:38
  whatever
• 40:38
  they
• 40:38
  were
• 40:38
  doing
• 40:38
  before
• 40:39
  and
• 40:39
  want
• 40:39
  to
• 40:39
  get
• 40:40
  into
• 40:40
  it.
• 40:40
  And
• 40:40
  vice
• 40:40
  versa,
• 40:40
  there's
• 40:41
  people
• 40:41
  in
• 40:41
  our
• 40:41
  industry
• 40:41
  are
• 40:41
  like,
• 40:42
  I
• 40:42
  want
• 40:42
  out
• 40:42
  of
• 40:42
  this
• 40:43
  thing
• 40:43
  and,
• 40:43
  they
• 40:43
  sell
• 40:43
  their
• 40:43
  properties
• 40:44
  and
• 40:44
  move
• 40:44
  out.
• 40:44
  So
• 40:45
  I
• 40:45
  think
• 40:45
  that's
• 40:45
  a,
• 40:46
  just
• 40:46
  a
• 40:46
  general
• 40:46
  overall
• 40:47
  trend
• 40:47
  that
• 40:47
  you're
• 40:47
  going
• 40:47
  to
• 40:47
  see
• 40:48
  really
• 40:48
  impacted.
• 40:48
  Just
• 40:49
  to,
• 40:49
  to
• 40:49
  piggyback
• 40:50
  off
• 40:50
  of
• 40:50
  that
• 40:50
  for
• 40:51
  10
• 40:51
  seconds
• 40:51
  or
• 40:51
  95%
• 40:52
  of
• 40:52
  the
• 40:52
  new
• 40:53
  age,
• 40:53
  aspiring
• 40:54
  operator
• 40:55
  members
• 40:55
  have
• 40:55
  never
• 40:56
  been
• 40:56
  in
• 40:56
  hospital.
• 40:57
  I've
• 40:57
  never
• 40:57
  been
• 40:58
  in
• 40:58
  glamping.
• 40:58
  I've
• 40:58
  never
• 40:58
  been
• 40:59
  in
• 40:59
  hospitality.
• 40:59
  It's
• 40:59
  a
• 41:00
  career
• 41:00
  move.
• 41:00
  So
• 41:00
  I
• 41:00
  would
• 41:01
  echo
• 41:01
  that,
• 41:01
  that
• 41:02
  first,
• 41:05
  when
• 41:05
  you
• 41:05
  see,
• 41:06
  four
• 41:06
  and
• 41:06
  a
• 41:06
  half
• 41:06
  million
• 41:07
  folks
• 41:08
  had
• 41:08
  just
• 41:08
  recently
• 41:09
  I
• 41:09
  think
• 41:09
  with
• 41:09
  their
• 41:10
  jobs,
• 41:10
  right?
• 41:10
  Everybody's
• 41:11
  to
• 41:11
  Mark's
• 41:12
  point
• 41:12
  is
• 41:12
  they're
• 41:13
  looking
• 41:13
  to
• 41:13
  understand
• 41:14
  holistically
• 41:15
  what
• 41:15
  they
• 41:15
  want
• 41:15
  their
• 41:15
  life
• 41:16
  to
• 41:16
  be
• 41:16
  like,
• 41:16
  and
• 41:16
  that
• 41:17
  there
• 41:17
  are
• 41:17
  other
• 41:17
  ways
• 41:18
  to
• 41:18
  earn
• 41:18
  an
• 41:19
  income
• 41:19
  and
• 41:19
  spend
• 41:20
  your
• 41:20
  time
• 41:20
  and
• 41:20
  work
• 41:20
  with
• 41:21
  your
• 41:21
  hands
• 41:21
  and
• 41:21
  work
• 41:21
  with
• 41:21
  people.
• 41:22
  And
• 41:22
  I
• 41:22
  think
• 41:22
  that
• 41:23
  makes
• 41:23
  perfect
• 41:23
  sense.
• 41:24
  I,
• 41:24
  not
• 41:24
  to
• 41:24
  derail
• 41:25
  the
• 41:25
  conversation,
• 41:26
  but,
• 41:26
  and
• 41:26
  maybe
• 41:26
  we
• 41:26
  can
• 41:26
  come
• 41:26
  back
• 41:27
  to
• 41:27
  this
• 41:27
  in
• 41:27
  another
• 41:27
  show.
• 41:28
  Randy,
• 41:28
  I'm
• 41:28
  curious.
• 41:29
  Yeah.
• 41:29
  And
• 41:30
  maybe
• 41:30
  for
• 41:30
  the
• 41:30
  other
• 41:30
  group
• 41:31
  members
• 41:31
  too,
• 41:31
  our,
• 41:32
  we,
• 41:32
  our
• 41:32
  experiences
• 41:33
  working
• 41:33
  with.
• 41:33
  Largely
• 41:34
  professional
• 41:34
  money.
• 41:35
  And
• 41:35
  we
• 41:35
  do
• 41:36
  have
• 41:36
  some
• 41:36
  mom
• 41:36
  and
• 41:37
  pop
• 41:37
  clients,
• 41:37
  but
• 41:38
  there's
• 41:38
  properties
• 41:39
  that
• 41:39
  are
• 41:39
  40
• 41:39
  sites
• 41:40
  or
• 41:40
  60
• 41:40
  sites
• 41:42
  that
• 41:42
  are
• 41:42
  upstate
• 41:42
  New
• 41:43
  York
• 41:43
  and
• 41:43
  they're
• 41:43
  highly
• 41:44
  seasonal.
• 41:44
  How
• 41:45
  is
• 41:45
  the
• 41:45
  market
• 41:46
  affecting
• 41:46
  their
• 41:47
  purchase
• 41:47
  price?
• 41:48
  How
• 41:48
  are
• 41:48
  they
• 41:48
  looking
• 41:49
  at
• 41:49
  exiting
• 41:50
  and
• 41:50
  who's
• 41:50
  buying
• 41:50
  those?
• 41:51
  Is
• 41:51
  it
• 41:51
  the
• 41:51
  sense,
• 41:52
  is
• 41:53
  it
• 41:53
  the
• 41:53
  openness
• 41:54
  of
• 41:54
  additional
• 41:54
  financing
• 41:55
  now
• 41:55
  that's
• 41:56
  slowly
• 41:56
  coming
• 41:57
  back
• 41:57
  around
• 41:57
  into
• 41:57
  our
• 41:57
  industry
• 41:58
  of
• 41:58
  banks
• 41:58
  understanding
• 41:59
  what
• 41:59
  this
• 41:59
  asset
• 42:00
  class
• 42:00
  is.
• 42:00
  That's
• 42:01
  allowing
• 42:01
  individual
• 42:02
  mom
• 42:02
  and
• 42:02
  pops
• 42:03
  to
• 42:03
  buy
• 42:03
  some
• 42:03
  of
• 42:03
  these
• 42:03
  parks
• 42:04
  or
• 42:04
  is
• 42:05
  it
• 42:05
  just
• 42:05
  a
• 42:05
  different
• 42:05
  expectation
• 42:06
  of
• 42:07
  sale
• 42:07
  price?
• 42:08
  So
• 42:09
  there's
• 42:09
  a
• 42:09
  lot
• 42:09
  to
• 42:10
  unpack
• 42:10
  there
• 42:10
  for
• 42:11
  sure.
• 42:11
  Sorry.
• 42:11
  If
• 42:11
  you're
• 42:12
  hearing
• 42:12
  a
• 42:12
  leaf
• 42:12
  blower
• 42:13
  in
• 42:13
  the
• 42:13
  background
• 42:13
  here,
• 42:14
  I
• 42:14
  apologize.
• 42:15
  Yeah.
• 42:15
  Great
• 42:15
  question,
• 42:16
  Scott.
• 42:16
  So
• 42:17
  one
• 42:17
  of
• 42:17
  the
• 42:17
  great
• 42:17
  opportunities
• 42:18
  out
• 42:18
  there,
• 42:18
  I
• 42:18
  think
• 42:21
  is
• 42:21
  the
• 42:21
  compression
• 42:22
  of
• 42:22
  cap
• 42:22
  rates
• 42:23
  is
• 42:23
  opportunities
• 42:23
  to
• 42:24
  become
• 42:24
  a
• 42:24
  little
• 42:24
  bit
• 42:24
  more
• 42:24
  limited.
• 42:25
  So
• 42:25
  somebody
• 42:26
  who
• 42:26
  wants
• 42:26
  to
• 42:26
  make
• 42:26
  a
• 42:26
  lifestyle
• 42:27
  change
• 42:27
  or
• 42:27
  lifestyle
• 42:28
  pivot
• 42:29
  there,
• 42:29
  another
• 42:29
  15
• 42:30
  million.
• 42:30
  Part
• 42:31
  buyer,
• 42:31
  but
• 42:31
  what
• 42:32
  they
• 42:32
  are
• 42:32
  buying
• 42:33
  and
• 42:33
  what
• 42:33
  they
• 42:33
  like
• 42:33
  buying
• 42:34
  is
• 42:34
  something
• 42:34
  that
• 42:34
  could
• 42:35
  be
• 42:35
  40
• 42:35
  or
• 42:35
  50
• 42:35
  sites,
• 42:36
  but
• 42:36
  have
• 42:36
  some
• 42:36
  surplus
• 42:37
  land
• 42:37
  available
• 42:38
  to
• 42:38
  it.
• 42:38
  So
• 42:38
  when
• 42:39
  they
• 42:39
  start
• 42:39
  running
• 42:40
  it
• 42:40
  the
• 42:40
  way
• 42:40
  they
• 42:40
  want
• 42:40
  to
• 42:41
  do
• 42:41
  it
• 42:41
  and
• 42:41
  living
• 42:41
  the
• 42:41
  kind
• 42:42
  of
• 42:42
  life,
• 42:42
  they
• 42:42
  want
• 42:42
  to
• 42:43
  run
• 42:43
  one
• 42:43
  of
• 42:43
  these
• 42:43
  smaller
• 42:44
  parks,
• 42:44
  but
• 42:44
  have
• 42:44
  the
• 42:44
  land
• 42:45
  to
• 42:45
  expand
• 42:45
  something.
• 42:46
  Now
• 42:46
  they've
• 42:46
  got
• 42:47
  live
• 42:47
  data
• 42:47
  to
• 42:47
  know
• 42:48
  what
• 42:48
  our
• 42:48
  customers
• 42:49
  want.
• 42:49
  So
• 42:49
  is
• 42:49
  it
• 42:50
  going
• 42:50
  to
• 42:50
  be
• 42:50
  park
• 42:50
  models
• 42:50
  is
• 42:51
  going
• 42:51
  to
• 42:51
  be
• 42:51
  glamping
• 42:51
  tents
• 42:52
  and
• 42:52
  ends
• 42:52
  up
• 42:53
  being
• 42:53
  a
• 42:53
  very
• 42:53
  significant
• 42:54
  enterprise.
• 42:55
  So
• 42:55
  the
• 42:55
  barrier
• 42:55
  to
• 42:55
  entry
• 42:56
  is
• 42:56
  quite
• 42:56
  a
• 42:56
  bit
• 42:56
  less
• 42:57
  because
• 42:57
  you
• 42:57
  don't
• 42:57
  have
• 42:57
  that
• 42:58
  massive
• 42:58
  purchase
• 42:58
  price.
• 42:59
  And
• 42:59
  there's
• 42:59
  a
• 42:59
  confluence
• 43:00
  of
• 43:00
  smaller
• 43:01
  properties
• 43:01
  that
• 43:01
  are
• 43:01
  still
• 43:02
  available
• 43:03
  in
• 43:03
  particular
• 43:03
  in
• 43:04
  the
• 43:04
  Northeast
• 43:04
  where
• 43:04
  the
• 43:04
  values
• 43:05
  tend
• 43:05
  to
• 43:05
  be
• 43:05
  quite
• 43:06
  a
• 43:06
  bit
• 43:06
  lower
• 43:06
  than
• 43:06
  other
• 43:07
  parts
• 43:07
  because
• 43:07
  of
• 43:08
  the
• 43:08
  seasonality.
• 43:09
  But
• 43:10
  you
• 43:10
  know
• 43:10
  what
• 43:10
  we're
• 43:10
  seeing
• 43:10
  Scott
• 43:11
  and
• 43:11
  that's
• 43:11
  a
• 43:11
  great
• 43:11
  question
• 43:12
  is
• 43:12
  there's
• 43:12
  a
• 43:12
  lot
• 43:12
  of
• 43:12
  interest
• 43:13
  in
• 43:13
  these
• 43:13
  50
• 43:13
  to
• 43:13
  60
• 43:14
  site
• 43:14
  parts
• 43:14
  that
• 43:15
  have
• 43:15
  acreage
• 43:15
  because
• 43:16
  they
• 43:16
  can
• 43:16
  be
• 43:17
  a
• 43:17
  bifurcated
• 43:17
  RV
• 43:18
  plus
• 43:18
  glamping
• 43:19
  type
• 43:19
  of
• 43:19
  operation.
• 43:20
  And
• 43:21
  the
• 43:21
  biggest
• 43:21
  thing
• 43:21
  that's
• 43:22
  changed
• 43:22
  quite
• 43:22
  honestly,
• 43:23
  Scott,
• 43:23
  and
• 43:23
  I
• 43:24
  think,
• 43:24
  those
• 43:24
  quite
• 43:25
  a
• 43:25
  bit,
• 43:25
  as
• 43:25
  well
• 43:25
  as
• 43:26
  the,
• 43:26
  there
• 43:27
  used
• 43:27
  to
• 43:27
  be
• 43:27
  a
• 43:27
  stigma
• 43:27
  about
• 43:28
  seasonality.
• 43:29
  It's
• 43:29
  snow
• 43:29
  six
• 43:29
  months
• 43:30
  out
• 43:30
  of
• 43:30
  the
• 43:30
  year.
• 43:30
  Your
• 43:31
  spreadsheet
• 43:31
  doesn't
• 43:31
  know
• 43:32
  that
• 43:32
  returns
• 43:33
  a
• 43:33
  recurrence.
• 43:34
  So
• 43:34
  if
• 43:34
  you're
• 43:34
  not
• 43:34
  open
• 43:35
  year
• 43:35
  round
• 43:36
  then
• 43:36
  you
• 43:36
  can
• 43:36
  still
• 43:37
  make
• 43:37
  a
• 43:37
  darn
• 43:37
  good
• 43:37
  living
• 43:38
  off
• 43:38
  of
• 43:38
  one
• 43:38
  of
• 43:38
  these
• 43:38
  smaller
• 43:39
  properties.
• 43:40
  But
• 43:40
  even
• 43:40
  beyond
• 43:41
  that,
• 43:41
  Extending
• 43:42
  into
• 43:42
  the
• 43:42
  shoulder
• 43:43
  and
• 43:43
  off
• 43:43
  seasons,
• 43:44
  whether
• 43:44
  you're
• 43:44
  an
• 43:44
  operator,
• 43:45
  owner,
• 43:45
  whatever
• 43:45
  like
• 43:46
  that,
• 43:46
  and
• 43:46
  finding
• 43:46
  snow
• 43:47
  activities
• 43:48
  and
• 43:48
  just
• 43:48
  avoiding
• 43:48
  the
• 43:49
  traditional
• 43:49
  mindset
• 43:50
  that
• 43:50
  world's
• 43:50
  November,
• 43:51
  I
• 43:51
  shut
• 43:51
  down.
• 43:52
  Don't
• 43:52
  do
• 43:52
  that.
• 43:53
  You've
• 43:53
  got
• 43:53
  great
• 43:53
  stories
• 43:54
  about
• 43:54
  that.
• 43:54
  Scott
• 43:55
  did
• 43:55
  with
• 43:55
  your
• 43:55
  Oklahoma
• 43:56
  property
• 43:56
  where
• 43:56
  you
• 43:57
  did
• 43:57
  something
• 43:57
  that's
• 43:57
  never
• 43:57
  been
• 43:58
  done
• 43:58
  before,
• 43:59
  did
• 43:59
  this
• 43:59
  little
• 44:00
  this
• 44:00
  Christmas
• 44:00
  thing,
• 44:00
  this
• 44:01
  holiday
• 44:01
  thing,
• 44:01
  and
• 44:01
  it
• 44:02
  just
• 44:02
  filled
• 44:02
  the
• 44:02
  place
• 44:03
  up.
• 44:03
  So
• 44:04
  it's
• 44:04
  a
• 44:04
  long
• 44:04
  answer,
• 44:05
  short
• 44:05
  question,
• 44:05
  but
• 44:06
  basically
• 44:06
  40
• 44:07
  50
• 44:07
  sites
• 44:08
  plus
• 44:08
  acreage,
• 44:09
  and
• 44:09
  then
• 44:09
  running
• 44:09
  it
• 44:09
  smartly
• 44:10
  with
• 44:10
  today's
• 44:11
  conditions
• 44:11
  with
• 44:12
  today's
• 44:12
  consumer
• 44:13
  and
• 44:13
  looking
• 44:13
  for
• 44:13
  opportunities
• 44:14
  within
• 44:15
  that.
• 44:15
  You
• 44:15
  can
• 44:15
  have
• 44:16
  a
• 44:16
  very
• 44:16
  attractive
• 44:17
  property
• 44:18
  and
• 44:18
  a
• 44:18
  very
• 44:18
  attractive
• 44:19
  exit
• 44:19
  because
• 44:19
  again,
• 44:20
  numbers
• 44:20
  are
• 44:21
  numbers.
• 44:21
  You
• 44:21
  get
• 44:21
  the
• 44:21
  numbers
• 44:22
  of
• 44:22
  big,
• 44:22
  a
• 44:23
  bigger
• 44:23
  guy
• 44:23
  does
• 44:23
  come
• 44:24
  in
• 44:24
  and
• 44:24
  buy
• 44:24
  that
• 44:24
  from
• 44:25
  you.
• 44:26
  We
• 44:26
  have
• 44:27
  someone,
• 44:28
  oh,
• 44:28
  I'm
• 44:28
  sorry.
• 44:28
  No.
• 44:28
  It's
• 44:28
  okay.
• 44:29
  I
• 44:29
  was
• 44:29
  just
• 44:29
  going
• 44:29
  to
• 44:29
  bring
• 44:29
  in
• 44:30
  Angela
• 44:30
  finishers
• 44:31
  thought
• 44:31
  in
• 44:31
  a
• 44:31
  second,
• 44:31
  but
• 44:32
  I
• 44:32
  just
• 44:32
  want
• 44:32
  to
• 44:32
  bring
• 44:32
  in
• 44:32
  Cara,
• 44:32
  cause
• 44:33
  she's
• 44:33
  been
• 44:33
  a
• 44:33
  little
• 44:33
  quiet
• 44:33
  the
• 44:34
  show.
• 44:34
  But
• 44:34
  I
• 44:34
  think
• 44:34
  it's
• 44:34
  a
• 44:35
  good
• 44:35
  place
• 44:35
  to
• 44:35
  have
• 44:35
  her
• 44:36
  jump
• 44:36
  in
• 44:36
  and
• 44:36
  talk
• 44:36
  about
• 44:36
  some
• 44:36
  of
• 44:37
  the
• 44:37
  seasonality
• 44:37
  of
• 44:37
  the
• 44:37
  parks
• 44:38
  and
• 44:38
  Canada.
• 44:38
  How
• 44:39
  that,
• 44:39
  how
• 44:40
  really
• 44:40
  the
• 44:40
  whole
• 44:40
  discussion
• 44:41
  is
• 44:41
  impacting
• 44:41
  Canada.
• 44:42
  But
• 44:42
  also
• 44:42
  then
• 44:42
  Cara
• 44:43
  to
• 44:43
  the
• 44:43
  second
• 44:43
  question
• 44:44
  is
• 44:44
  how
• 44:44
  do
• 44:44
  associations
• 44:45
  pivot
• 44:46
  to
• 44:46
  serve
• 44:47
  some
• 44:47
  of
• 44:47
  these
• 44:47
  larger
• 44:48
  groups
• 44:48
  that
• 44:48
  are
• 44:48
  coming
• 44:49
  into
• 44:49
  the
• 44:49
  industry
• 44:49
  too.
• 44:49
  But
• 44:49
  Angela,
• 44:50
  do
• 44:50
  you
• 44:50
  want
• 44:50
  to
• 44:50
  go
• 44:50
  first?
• 44:52
  I'm
• 44:52
  going
• 44:52
  to
• 44:52
  say
• 44:53
  some
• 44:53
  of
• 44:53
  that
• 44:53
  too,
• 44:54
  with
• 44:54
  the
• 44:54
  smaller
• 44:54
  parks
• 44:55
  in
• 44:55
  the
• 44:55
  colder
• 44:55
  climates
• 44:56
  that
• 44:56
  are
• 44:56
  very
• 44:56
  seasonal.
• 44:57
  It's
• 44:58
  a
• 44:58
  very
• 44:58
  specific
• 44:59
  buyer.
• 44:59
  That's
• 44:59
  looking
• 45:00
  for
• 45:00
  those
• 45:00
  properties.
• 45:01
  It's
• 45:01
  not
• 45:01
  for
• 45:02
  everybody,
• 45:02
  not
• 45:02
  just
• 45:02
  because
• 45:03
  of
• 45:03
  its
• 45:03
  size.
• 45:04
  It's
• 45:05
  you
• 45:05
  have
• 45:05
  to
• 45:05
  find
• 45:05
  someone
• 45:06
  that
• 45:06
  is
• 45:06
  interested
• 45:07
  in
• 45:07
  that
• 45:07
  seasonality
• 45:08
  because
• 45:09
  the
• 45:09
  bottom
• 45:09
  line
• 45:09
  is,
• 45:10
  unless
• 45:10
  you're
• 45:10
  going
• 45:11
  to
• 45:11
  go
• 45:11
  through
• 45:11
  the
• 45:11
  process
• 45:11
  of
• 45:12
  burying
• 45:12
  your
• 45:12
  pipes,
• 45:13
  that
• 45:13
  which
• 45:13
  in
• 45:13
  an
• 45:13
  established
• 45:14
  park
• 45:14
  is
• 45:15
  horribly
• 45:15
  expensive
• 45:16
  and
• 45:17
  tasking.
• 45:17
  It's
• 45:18
  just,
• 45:18
  you're
• 45:18
  not
• 45:19
  open
• 45:19
  in
• 45:19
  the
• 45:19
  winter
• 45:19
  in
• 45:20
  upstate
• 45:20
  New
• 45:20
  York.
• 45:20
  You're
• 45:20
  just
• 45:21
  not.
• 45:21
  And
• 45:21
  so
• 45:22
  like
• 45:22
  we
• 45:22
  have
• 45:23
  someone
• 45:23
  that
• 45:23
  we
• 45:23
  work
• 45:24
  with
• 45:24
  and
• 45:24
  they're
• 45:25
  actually
• 45:25
  retired
• 45:25
  and
• 45:25
  they
• 45:26
  live
• 45:26
  in
• 45:26
  Florida.
• 45:27
  But
• 45:27
  they
• 45:27
  have
• 45:27
  a.
• 45:28
  Property
• 45:29
  in
• 45:30
  Michigan.
• 45:31
  And
• 45:31
  so
• 45:31
  they're
• 45:31
  operating
• 45:32
  that
• 45:32
  in
• 45:32
  the
• 45:33
  warmth
• 45:34
  in
• 45:34
  a
• 45:34
  warmer
• 45:34
  month.
• 45:36
  They're
• 45:36
  operating
• 45:36
  that
• 45:36
  in
• 45:37
  a
• 45:37
  warmer
• 45:37
  months.
• 45:38
  And
• 45:39
  when
• 45:39
  it's
• 45:39
  cold
• 45:39
  there,
• 45:40
  they're
• 45:40
  out
• 45:40
  of
• 45:40
  there.
• 45:40
  And
• 45:40
  so
• 45:41
  it's
• 45:41
  finding
• 45:41
  that
• 45:41
  really
• 45:42
  niche
• 45:42
  specific
• 45:43
  buyer.
• 45:44
  And
• 45:44
  then
• 45:44
  one
• 45:44
  other
• 45:44
  thing
• 45:44
  to
• 45:45
  the
• 45:45
  point
• 45:45
  earlier
• 45:45
  about
• 45:46
  diversifying
• 45:46
  accommodations
• 45:48
  and
• 45:48
  bringing
• 45:48
  more
• 45:49
  people
• 45:49
  into
• 45:49
  the
• 45:49
  space
• 45:50
  for
• 45:50
  the
• 45:50
  parks
• 45:50
  that
• 45:50
  have
• 45:51
  the
• 45:51
  ability
• 45:51
  the
• 45:52
  space,
• 45:52
  the
• 45:52
  land
• 45:53
  to
• 45:53
  diversify,
• 45:53
  but
• 45:54
  they're
• 45:54
  not
• 45:54
  it's
• 45:54
  really
• 45:55
  to
• 45:55
  their
• 45:55
  disadvantage
• 45:56
  because
• 45:56
  there's
• 45:56
  a
• 45:56
  lot
• 45:56
  of
• 45:56
  people
• 45:56
  that
• 45:56
  want
• 45:57
  to
• 45:57
  test
• 45:57
  out
• 45:58
  the
• 45:58
  industry
• 45:58
  to
• 45:58
  see
• 45:59
  if
• 45:59
  it's
• 45:59
  something
• 45:59
  that
• 46:00
  they
• 46:00
  want
• 46:00
  to
• 46:00
  participate
• 46:00
  in,
• 46:01
  if
• 46:01
  it's
• 46:01
  something
• 46:01
  they
• 46:01
  might
• 46:01
  want
• 46:01
  to
• 46:01
  buy
• 46:02
  in
• 46:02
  on
• 46:02
  that
• 46:03
  are
• 46:03
  looking
• 46:03
  for
• 46:03
  those
• 46:03
  experiences.
• 46:04
  Cause
• 46:04
  they
• 46:04
  haven't
• 46:04
  committed
• 46:05
  to
• 46:05
  buying
• 46:05
  their
• 46:05
  own
• 46:06
  units.
• 46:06
  And
• 46:06
  if,
• 46:06
  if
• 46:07
  you
• 46:07
  don't
• 46:07
  offer
• 46:07
  that,
• 46:08
  they're
• 46:08
  not
• 46:08
  coming
• 46:09
  to
• 46:09
  you.
• 46:09
  And
• 46:09
  so
• 46:10
  I
• 46:10
  just
• 46:10
  wanted
• 46:10
  to
• 46:11
  touch
• 46:11
  on
• 46:11
  that
• 46:11
  from
• 46:11
  an
• 46:12
  earlier
• 46:12
  point.
• 46:13
  I
• 46:13
  don't
• 46:13
  remember
• 46:13
  who
• 46:13
  raised
• 46:14
  that
• 46:14
  but
• 46:14
  yeah,
• 46:14
  that's
• 46:14
  all
• 46:15
  Cara.
• 46:23
  Nope.
• 46:23
  We
• 46:23
  can't
• 46:23
  hear
• 46:24
  you
• 46:24
  Cara,
• 46:24
  or
• 46:24
  I
• 46:24
  can't.
• 46:25
  Anyway,
• 46:30
  I
• 46:30
  will
• 46:30
  give
• 46:30
  Kara
• 46:30
  a
• 46:30
  second
• 46:31
  to
• 46:31
  fix
• 46:31
  her
• 46:31
  microphone.
• 46:32
  Cause
• 46:32
  I
• 46:32
  definitely
• 46:32
  want
• 46:32
  to
• 46:33
  hear
• 46:33
  her
• 46:33
  opinions.
• 46:34
  I'm
• 46:34
  up
• 46:34
  here
• 46:34
  in
• 46:34
  Canada
• 46:35
  now,
• 46:35
  but
• 46:35
  I
• 46:35
  don't
• 46:35
  even
• 46:35
  know
• 46:36
  the
• 46:36
  landscape
• 46:37
  and
• 46:37
  I'll
• 46:37
  let
• 46:37
  you
• 46:37
  know
• 46:38
  if
• 46:38
  we
• 46:38
  can
• 46:38
  hear
• 46:38
  you
• 46:38
  care.
• 46:38
  But
• 46:38
  I
• 46:39
  definitely
• 46:39
  want
• 46:39
  to
• 46:39
  know.
• 46:42
  Yep.
• 46:42
  We
• 46:42
  got
• 46:42
  you.
• 46:43
  So
• 46:43
  go
• 46:43
  ahead.
• 46:43
  Yeah,
• 46:43
  no,
• 46:44
  I
• 46:44
  just
• 46:44
  wanted
• 46:44
  to
• 46:44
  touch
• 46:44
  on
• 46:45
  the
• 46:46
  specifics
• 46:46
  around
• 46:47
  having
• 46:47
  acreage
• 46:48
  available
• 46:48
  and
• 46:48
  stuff
• 46:48
  like
• 46:49
  that.
• 46:49
  I
• 46:49
  think
• 46:50
  there's
• 46:50
  significant
• 46:51
  hurdles
• 46:51
  related
• 46:52
  to
• 46:52
  that
• 46:52
  zoning
• 46:52
  conversation
• 46:53
  we
• 46:53
  had
• 46:53
  earlier
• 46:54
  with
• 46:54
  that.
• 46:54
  I
• 46:54
  know
• 46:55
  in
• 46:55
  my
• 46:55
  own
• 46:55
  experience
• 46:56
  with
• 46:56
  my
• 46:56
  own
• 46:56
  park,
• 46:57
  I
• 46:57
  had
• 46:57
  acreage
• 46:58
  around
• 46:59
  me,
• 46:59
  but
• 46:59
  wasn't
• 47:00
  able
• 47:00
  to
• 47:00
  develop
• 47:00
  it.
• 47:01
  So
• 47:01
  that
• 47:01
  was
• 47:01
  really
• 47:01
  limiting
• 47:02
  to
• 47:02
  my
• 47:02
  business.
• 47:02
  And
• 47:03
  so
• 47:03
  I
• 47:03
  think
• 47:03
  there's
• 47:04
  work
• 47:04
  to
• 47:04
  be
• 47:04
  done.
• 47:05
  Brian,
• 47:05
  you
• 47:05
  mentioned
• 47:05
  the
• 47:06
  associations.
• 47:06
  I
• 47:06
  think
• 47:06
  there's
• 47:07
  work
• 47:07
  to
• 47:07
  be
• 47:07
  done.
• 47:08
  Perhaps
• 47:09
  from
• 47:09
  the
• 47:09
  association
• 47:10
  level
• 47:10
  to
• 47:10
  help
• 47:11
  municipalities
• 47:12
  and
• 47:12
  counties
• 47:12
  understand
• 47:13
  better
• 47:14
  the
• 47:14
  industry
• 47:15
  and
• 47:15
  its
• 47:15
  benefits
• 47:16
  and
• 47:17
  the
• 47:17
  things
• 47:17
  that
• 47:17
  can
• 47:17
  provide
• 47:18
  from
• 47:18
  a
• 47:18
  tax
• 47:19
  and
• 47:19
  socioeconomic
• 47:20
  basis.
• 47:21
  For
• 47:21
  sure.
• 47:21
  I
• 47:22
  also
• 47:22
  think
• 47:23
  oftentimes
• 47:23
  appetite
• 47:24
  for
• 47:24
  those
• 47:24
  smaller
• 47:24
  parks
• 47:25
  is
• 47:25
  coming
• 47:26
  from
• 47:27
  was
• 47:27
  mentioned
• 47:27
  already
• 47:27
  that
• 47:28
  desire
• 47:28
  to
• 47:29
  live
• 47:29
  that
• 47:29
  lifestyle.
• 47:30
  When
• 47:30
  I
• 47:30
  was
• 47:30
  a
• 47:31
  campground
• 47:31
  operator,
• 47:31
  that
• 47:32
  was
• 47:32
  always
• 47:32
  the
• 47:32
  top
• 47:33
  thing
• 47:33
  people
• 47:33
  used
• 47:33
  to
• 47:34
  say
• 47:34
  to
• 47:34
  me
• 47:34
  this
• 47:34
  seems
• 47:35
  so
• 47:35
  awesome
• 47:36
  to
• 47:36
  raise
• 47:36
  your
• 47:36
  kids
• 47:36
  in
• 47:36
  this
• 47:37
  dynamic
• 47:37
  and
• 47:38
  all
• 47:38
  of
• 47:38
  that.
• 47:38
  So
• 47:38
  there
• 47:38
  was
• 47:39
  a
• 47:39
  lot
• 47:39
  of
• 47:39
  I
• 47:39
  got
• 47:40
  that
• 47:40
  feedback
• 47:40
  a
• 47:40
  lot.
• 47:40
  I'd
• 47:41
  love
• 47:41
  to
• 47:41
  live
• 47:41
  like
• 47:41
  this,
• 47:42
  and
• 47:42
  it
• 47:42
  was
• 47:42
  great.
• 47:43
  But
• 47:43
  I
• 47:43
  also
• 47:43
  think
• 47:43
  there's
• 47:44
  factors
• 47:45
  outside
• 47:45
  of
• 47:45
  that,
• 47:46
  including
• 47:46
  things
• 47:46
  like
• 47:46
  staffing
• 47:47
  and
• 47:48
  those
• 47:48
  kinds
• 47:48
  of
• 47:48
  things
• 47:48
  that
• 47:49
  have
• 47:49
  been
• 47:49
  such
• 47:49
  a
• 47:49
  hurdle
• 47:49
  lately
• 47:50
  that
• 47:50
  probably
• 47:50
  impact
• 47:51
  those
• 47:52
  choices
• 47:52
  about
• 47:53
  how
• 47:53
  big
• 47:53
  of
• 47:53
  a
• 47:54
  property
• 47:54
  to
• 47:54
  potentially
• 47:55
  perpet
• 47:55
  purchase.
• 47:56
  So
• 47:56
  yeah,
• 47:57
  there's
• 47:57
  a
• 47:57
  lot
• 47:57
  of
• 47:57
  years
• 47:58
  turning
• 47:58
  in
• 47:59
  this
• 47:59
  machine
• 47:59
  for
• 47:59
  sure.
• 48:00
  Specific
• 48:00
  to
• 48:00
  the
• 48:00
  associations.
• 48:01
  I
• 48:01
  think
• 48:01
  we're,
• 48:01
  we
• 48:02
  are
• 48:02
  certainly
• 48:03
  seeing
• 48:04
  better
• 48:04
  partnerships
• 48:05
  and
• 48:05
  growth
• 48:06
  in
• 48:06
  terms
• 48:06
  of
• 48:06
  our
• 48:07
  what
• 48:07
  we
• 48:07
  call
• 48:08
  corporate
• 48:08
  membership
• 48:09
  for
• 48:09
  our
• 48:09
  participants.
• 48:10
  We
• 48:11
  We
• 48:11
  have
• 48:12
  a
• 48:12
  few
• 48:12
  groups
• 48:13
  here
• 48:13
  in
• 48:13
  Canada
• 48:13
  that
• 48:13
  actively
• 48:14
  participate
• 48:14
  with
• 48:14
  the
• 48:15
  association
• 48:15
  and
• 48:16
  we're
• 48:16
  so
• 48:16
  grateful
• 48:17
  for
• 48:17
  their
• 48:17
  participation
• 48:18
  and
• 48:18
  their
• 48:18
  input.
• 48:19
  They
• 48:19
  certainly
• 48:20
  diversify
• 48:20
  the
• 48:20
  perspective
• 48:21
  of
• 48:21
  our
• 48:21
  board
• 48:22
  and
• 48:22
  all
• 48:22
  of
• 48:22
  those
• 48:22
  things.
• 48:23
  That's
• 48:23
  incredibly
• 48:23
  valuable
• 48:24
  to
• 48:24
  us.
• 48:25
  And
• 48:25
  I
• 48:25
  think
• 48:25
  they
• 48:26
  have
• 48:26
  a
• 48:26
  a
• 48:27
  different
• 48:27
  perspective
• 48:28
  of
• 48:28
  the
• 48:28
  business
• 48:28
  that
• 48:29
  has
• 48:29
  really
• 48:29
  helped
• 48:29
  us
• 48:30
  just
• 48:31
  enhance
• 48:32
  the
• 48:32
  perception
• 48:33
  of
• 48:33
  the
• 48:33
  industry
• 48:33
  here
• 48:33
  in
• 48:33
  Canada
• 48:34
  over
• 48:34
  the
• 48:34
  last
• 48:34
  several
• 48:35
  years.
• 48:35
  They've
• 48:35
  been
• 48:36
  instrumental
• 48:36
  for
• 48:36
  sure.
• 48:37
  And
• 48:37
  I,
• 48:37
  I'm
• 48:38
  excited
• 48:38
  to
• 48:38
  continue
• 48:40
  growing
• 48:40
  those
• 48:40
  partnerships
• 48:41
  and
• 48:41
  working
• 48:41
  alongside
• 48:42
  those
• 48:42
  groups,
• 48:42
  definitely
• 48:43
  into
• 48:43
  the
• 48:43
  future.
• 48:46
  Was
• 48:46
  that?
• 48:46
  Did
• 48:47
  I
• 48:47
  answer
• 48:47
  all
• 48:47
  of
• 48:47
  your
• 48:47
  questions,
• 48:48
  Brian?
• 48:48
  I
• 48:48
  can
• 48:48
  remember.
• 48:49
  Yeah.
• 48:49
  That
• 48:49
  was
• 48:50
  a
• 48:50
  really
• 48:50
  good
• 48:50
  answer.
• 48:50
  I
• 48:51
  just
• 48:51
  wanted
• 48:51
  you
• 48:51
  to
• 48:51
  touch
• 48:52
  on
• 48:52
  some
• 48:52
  of
• 48:52
  it
• 48:52
  because
• 48:52
  we've
• 48:52
  had
• 48:52
  such
• 48:53
  a
• 48:53
  conversation
• 48:53
  and
• 48:53
  every
• 48:54
  time
• 48:54
  somebody
• 48:54
  says
• 48:54
  something,
• 48:55
  I'm
• 48:55
  like,
• 48:55
  oh,
• 48:55
  how
• 48:55
  would
• 48:55
  that
• 48:56
  impact
• 48:56
  Cara
• 48:56
  in
• 48:56
  Canada?
• 48:57
  It's
• 48:57
  easy
• 48:57
  RBC
• 48:58
  and
• 48:58
  the
• 48:58
  associations
• 48:58
  and
• 48:58
  all
• 48:58
  those
• 48:59
  kinds
• 48:59
  of
• 48:59
  things.
• 48:59
  How
• 49:00
  do
• 49:00
  you
• 49:00
  see,
• 49:00
  how
• 49:00
  far
• 49:01
  behind
• 49:01
  do
• 49:01
  you
• 49:01
  think
• 49:02
  if
• 49:02
  at
• 49:02
  all
• 49:03
  it
• 49:03
  is
• 49:03
  Canada,
• 49:04
  as
• 49:04
  far
• 49:04
  as
• 49:05
  buying
• 49:05
  up
• 49:05
  some
• 49:05
  of
• 49:05
  the
• 49:05
  properties,
• 49:06
  mom
• 49:06
  and
• 49:06
  pop
• 49:06
  selling
• 49:07
  consolidations,
• 49:07
  things
• 49:08
  like
• 49:08
  that?
• 49:08
  I
• 49:08
  will
• 49:08
  say
• 49:09
  we
• 49:09
  are
• 49:10
  behind
• 49:11
  to
• 49:11
  measure
• 49:12
  the
• 49:12
  time
• 49:12
  is
• 49:13
  difficult.
• 49:13
  I
• 49:13
  think
• 49:13
  it's
• 49:14
  speeding
• 49:14
  up
• 49:15
  over
• 49:15
  the
• 49:15
  last
• 49:16
  couple
• 49:16
  of
• 49:16
  years.
• 49:16
  I
• 49:16
  think
• 49:17
  we're
• 49:17
  seeing
• 49:18
  interest
• 49:18
  from
• 49:19
  groups
• 49:20
  across
• 49:20
  north
• 49:20
  America
• 49:21
  suddenly
• 49:22
  that
• 49:22
  are
• 49:22
  excited
• 49:22
  to
• 49:22
  move
• 49:23
  into
• 49:23
  this
• 49:23
  space.
• 49:24
  We
• 49:24
  have
• 49:24
  significant
• 49:25
  site
• 49:25
  inventory
• 49:26
  issues
• 49:26
  in
• 49:27
  this
• 49:27
  country.
• 49:27
  In
• 49:27
  the
• 49:28
  height
• 49:28
  of
• 49:28
  peak
• 49:28
  season
• 49:29
  in
• 49:29
  June,
• 49:29
  July,
• 49:30
  August
• 49:30
  it's
• 49:31
  tough
• 49:31
  to
• 49:31
  get
• 49:31
  a
• 49:31
  campsite
• 49:32
  up
• 49:32
  here.
• 49:32
  The
• 49:32
  rest
• 49:33
  of
• 49:33
  the
• 49:33
  time
• 49:34
  it's
• 49:35
  there's
• 49:35
  availability.
• 49:36
  And
• 49:36
  so
• 49:36
  that's
• 49:37
  goes
• 49:37
  back
• 49:37
  to
• 49:37
  that
• 49:37
  seasonality
• 49:38
  conversation
• 49:38
  that
• 49:39
  certainly
• 49:39
  impacts
• 49:40
  bottom
• 49:40
  line
• 49:40
  and
• 49:41
  lots
• 49:41
  of
• 49:41
  decisions.
• 49:42
  And
• 49:42
  we
• 49:42
  are
• 49:43
  seeing
• 49:43
  parks
• 49:43
  make
• 49:44
  significant
• 49:45
  choices
• 49:45
  like
• 49:45
  doing
• 49:46
  projects
• 49:47
  like
• 49:47
  Angela
• 49:47
  mentioned
• 49:48
  putting
• 49:48
  services
• 49:49
  underground
• 49:49
  services
• 49:50
  deeper
• 49:50
  and
• 49:50
  offering
• 49:51
  longer
• 49:52
  sometimes
• 49:52
  in
• 49:52
  some
• 49:52
  cases
• 49:53
  year
• 49:53
  round
• 49:53
  services
• 49:54
  if
• 49:54
  they're
• 49:54
  able
• 49:55
  in
• 49:55
  their
• 49:55
  area
• 49:55
  that
• 49:56
  goes
• 49:56
  back
• 49:56
  again
• 49:56
  to
• 49:57
  that
• 49:57
  zoning
• 49:57
  and
• 49:58
  municipality
• 49:58
  conversation,
• 49:59
  you
• 49:59
  have
• 49:59
  to
• 50:00
  have
• 50:00
  be
• 50:00
  operating
• 50:01
  in
• 50:01
  a
• 50:01
  county
• 50:01
  that's
• 50:01
  understanding
• 50:02
  of
• 50:04
  those
• 50:04
  operational
• 50:05
  parameters
• 50:06
  and
• 50:06
  willing
• 50:06
  to
• 50:06
  give
• 50:06
  you
• 50:06
  those
• 50:07
  operating
• 50:07
  permits
• 50:07
  to
• 50:08
  do
• 50:08
  so
• 50:08
  there's
• 50:08
  a
• 50:08
  lot
• 50:08
  of.
• 50:10
  Things
• 50:11
  often
• 50:11
  regulatory
• 50:12
  barriers
• 50:12
  in
• 50:12
  place.
• 50:12
  Here
• 50:13
  in
• 50:13
  Canada
• 50:13
  that
• 50:13
  I
• 50:14
  don't
• 50:14
  know
• 50:14
  are
• 50:14
  as
• 50:15
  much
• 50:15
  of
• 50:15
  an
• 50:15
  issue
• 50:15
  down
• 50:16
  south
• 50:16
  of
• 50:16
  the
• 50:16
  border,
• 50:17
  for
• 50:17
  sure.
• 50:18
  But
• 50:18
  overall
• 50:19
  I
• 50:19
  am
• 50:20
  seeing
• 50:20
  significant
• 50:22
  interest
• 50:23
  from
• 50:24
  various
• 50:24
  groups.
• 50:25
  I
• 50:25
  just
• 50:25
  had,
• 50:26
  I
• 50:26
  have
• 50:26
  a
• 50:26
  lunch
• 50:27
  next
• 50:27
  week
• 50:27
  booked
• 50:27
  with
• 50:28
  a
• 50:28
  group
• 50:29
  who
• 50:29
  reached
• 50:30
  out.
• 50:30
  Who's
• 50:30
  never
• 50:31
  been
• 50:31
  involved
• 50:32
  in
• 50:32
  hospitality
• 50:32
  at
• 50:33
  all,
• 50:33
  but
• 50:33
  is
• 50:33
  looking
• 50:34
  actively
• 50:34
  looking
• 50:34
  at
• 50:34
  five
• 50:35
  properties
• 50:36
  here
• 50:36
  in
• 50:36
  Alberta
• 50:37
  that
• 50:37
  they
• 50:37
  want
• 50:37
  to
• 50:37
  purchase.
• 50:38
  I'm
• 50:38
  seeing
• 50:39
  or
• 50:39
  hearing
• 50:40
  similar
• 50:40
  anecdotes
• 50:41
  across
• 50:41
  the
• 50:41
  country.
• 50:42
  Lots
• 50:42
  of
• 50:42
  interests
• 50:43
  in
• 50:43
  Ontario
• 50:43
  for
• 50:43
  purchase.
• 50:44
  Even
• 50:44
  I
• 50:44
  see
• 50:45
  Sherry
• 50:45
  Sylvester
• 50:46
  in
• 50:46
  the
• 50:46
  comments
• 50:46
  here
• 50:46
  talking
• 50:47
  about
• 50:47
  they've
• 50:47
  had
• 50:47
  people
• 50:48
  contact
• 50:48
  them
• 50:48
  to
• 50:49
  buy
• 50:49
  there's.
• 50:49
  One
• 50:50
  was
• 50:50
  a
• 50:50
  real
• 50:50
  estate
• 50:50
  agent
• 50:51
  who
• 50:51
  had
• 50:51
  more
• 50:51
  than
• 50:51
  a
• 50:51
  few
• 50:52
  clients
• 50:52
  looking
• 50:52
  to
• 50:52
  buy.
• 50:53
  Sherry
• 50:53
  operates.
• 50:54
  Oh
• 50:54
  my
• 50:54
  gosh.
• 50:54
  I'm
• 50:54
  blanking
• 50:55
  on
• 50:55
  her
• 50:55
  park
• 50:56
  name.
• 50:56
  But
• 50:56
  she's
• 50:56
  in
• 50:56
  Ontario
• 50:57
  and
• 50:58
  it's,
• 50:59
  I
• 50:59
  think
• 50:59
  it's.
• 51:01
  Outside
• 51:01
  of
• 51:02
  a
• 51:02
  few
• 51:02
  really
• 51:04
  hard
• 51:04
  hit
• 51:05
  areas
• 51:06
  that
• 51:06
  really
• 51:06
  rely
• 51:07
  on
• 51:07
  cross
• 51:07
  border
• 51:08
  guests.
• 51:09
  I
• 51:09
  think
• 51:10
  overall
• 51:11
  our
• 51:11
  industry
• 51:12
  did
• 51:13
  exponentially
• 51:14
  well
• 51:14
  and
• 51:15
  very
• 51:15
  comparative
• 51:15
  to
• 51:16
  how
• 51:16
  things
• 51:16
  went
• 51:17
  in
• 51:17
  the
• 51:17
  states.
• 51:17
  We
• 51:17
  do
• 51:18
  have
• 51:18
  a
• 51:18
  bit
• 51:18
  of
• 51:18
  a
• 51:18
  different
• 51:19
  dynamic
• 51:20
  appear
• 51:20
  related
• 51:21
  to
• 51:21
  COVID
• 51:21
  we're
• 51:21
  seeing
• 51:22
  closures
• 51:22
  and
• 51:23
  things
• 51:23
  happening
• 51:23
  again
• 51:24
  in
• 51:24
  the
• 51:24
  last
• 51:25
  week
• 51:25
  or
• 51:25
  so.
• 51:25
  And
• 51:26
  so
• 51:26
  I've
• 51:26
  already
• 51:26
  spoken
• 51:27
  to
• 51:27
  operators
• 51:27
  whose
• 51:27
  stinkers
• 51:28
  are
• 51:28
  crossed
• 51:29
  about
• 51:30
  what
• 51:30
  that
• 51:31
  might
• 51:31
  mean
• 51:31
  for
• 51:31
  springtime
• 51:32
  and
• 51:32
  potentially
• 51:33
  a
• 51:33
  third
• 51:33
  season,
• 51:34
  starting
• 51:35
  with
• 51:35
  that
• 51:35
  impacting
• 51:35
  their
• 51:36
  operating
• 51:36
  times.
• 51:37
  Some
• 51:37
  of
• 51:37
  our
• 51:37
  factors
• 51:37
  are
• 51:37
  different,
• 51:38
  but
• 51:38
  for
• 51:38
  the
• 51:38
  most
• 51:38
  part
• 51:39
  we're
• 51:39
  quite
• 51:39
  similar.
• 51:39
  And
• 51:40
  on
• 51:40
  the
• 51:40
  same
• 51:40
  page
• 51:40
  as
• 51:40
  you
• 51:40
  guys,
• 51:41
  in
• 51:41
  terms
• 51:41
  of
• 51:41
  certainly
• 51:42
  in
• 51:42
  terms
• 51:42
  of
• 51:42
  appetite
• 51:43
  from
• 51:43
  consumers,
• 51:44
  I
• 51:44
  think
• 51:44
  we're
• 51:44
  seeing
• 51:45
  operators
• 51:45
  start
• 51:46
  to
• 51:46
  get
• 51:46
  really
• 51:46
  creative
• 51:47
  about
• 51:47
  offering
• 51:48
  great
• 51:48
  experiences
• 51:48
  and
• 51:49
  packaging
• 51:49
  and
• 51:50
  doing
• 51:50
  all
• 51:50
  kinds
• 51:50
  of
• 51:51
  cool
• 51:51
  stuff.
• 51:51
  That's
• 51:52
  really
• 51:52
  going
• 51:52
  to
• 51:52
  impact
• 51:53
  make
• 51:54
  the
• 51:54
  industry
• 51:54
  even
• 51:55
  more
• 51:55
  competitive
• 51:56
  and
• 51:56
  impact
• 51:57
  how
• 51:57
  our
• 51:57
  guests
• 51:58
  are
• 51:58
  how
• 51:59
  they're
• 51:59
  camping
• 52:00
  and
• 52:00
  how
• 52:00
  long
• 52:00
  they're
• 52:00
  camping
• 52:01
  and
• 52:01
  all
• 52:01
  of
• 52:02
  those
• 52:02
  things,
• 52:02
  which
• 52:02
  I
• 52:02
  love
• 52:03
  to
• 52:03
  see
• 52:03
  I'm
• 52:03
  super
• 52:03
  excited.
• 52:04
  There's
• 52:04
  a
• 52:04
  ton
• 52:04
  of
• 52:05
  potential
• 52:05
  and
• 52:06
  opportunity
• 52:06
  here
• 52:06
  in
• 52:06
  Canada
• 52:07
  right
• 52:07
  now.
• 52:07
  Absolutely
• 52:09
  awesome.
• 52:10
  I
• 52:10
  think
• 52:10
  we
• 52:10
  could
• 52:10
  probably
• 52:10
  talk
• 52:11
  all
• 52:11
  day
• 52:11
  to
• 52:11
  each
• 52:12
  other
• 52:12
  about
• 52:12
  all
• 52:12
  kinds
• 52:13
  of
• 52:13
  different
• 52:13
  things,
• 52:13
  but
• 52:14
  unfortunately
• 52:14
  it
• 52:14
  looks
• 52:14
  like
• 52:15
  we're
• 52:15
  about
• 52:15
  out
• 52:15
  of
• 52:15
  time,
• 52:15
  although
• 52:16
  my
• 52:16
  eyesight's
• 52:17
  getting
• 52:17
  better
• 52:17
  than
• 52:17
  my
• 52:17
  clock's
• 52:18
  really
• 52:18
  far
• 52:18
  away.
• 52:18
  So
• 52:19
  I
• 52:19
  think
• 52:19
  we
• 52:19
  have
• 52:19
  about
• 52:19
  two,
• 52:20
  three
• 52:20
  minutes
• 52:20
  left.
• 52:20
  Is
• 52:20
  there
• 52:21
  any
• 52:21
  final
• 52:21
  thoughts
• 52:22
  that
• 52:22
  you
• 52:22
  guys
• 52:22
  have
• 52:22
  what's
• 52:23
  happening
• 52:23
  in
• 52:23
  2022?
• 52:24
  What
• 52:24
  you're
• 52:24
  looking
• 52:24
  forward
• 52:25
  to.
• 52:25
  Diverted
• 52:25
  there
• 52:25
  into
• 52:26
  the
• 52:26
  whole
• 52:26
  glamping
• 52:26
  LSI
• 52:27
  consolidation
• 52:28
  discussion.
• 52:28
  I
• 52:28
  think
• 52:28
  it
• 52:28
  was
• 52:28
  a
• 52:28
  valuable
• 52:29
  topic
• 52:29
  to
• 52:29
  have
• 52:30
  that
• 52:30
  we
• 52:30
  haven't
• 52:30
  heard
• 52:30
  a
• 52:30
  lot
• 52:30
  about
• 52:31
  yet.
• 52:32
  I'm
• 52:32
  looking
• 52:32
  forward
• 52:33
  to
• 52:33
  where
• 52:33
  it
• 52:33
  goes
• 52:37
  and
• 52:37
  didn't
• 52:37
  want
• 52:37
  them
• 52:37
  quick.
• 52:37
  One
• 52:38
  quick
• 52:38
  thought.
• 52:38
  I
• 52:39
  just
• 52:39
  to
• 52:39
  pull
• 52:39
  everything
• 52:40
  together.
• 52:40
  The
• 52:40
  one
• 52:40
  thing
• 52:41
  that
• 52:41
  just
• 52:41
  came
• 52:41
  to
• 52:41
  mind
• 52:41
  was
• 52:42
  they're
• 52:42
  thinking
• 52:42
  about
• 52:43
  the
• 52:43
  consolidation
• 52:43
  as
• 52:43
  we're
• 52:44
  thinking
• 52:44
  about
• 52:44
  how
• 52:45
  larger
• 52:45
  entities
• 52:45
  are
• 52:45
  looking
• 52:46
  at
• 52:46
  this,
• 52:47
  the
• 52:47
  way
• 52:47
  that
• 52:47
  I
• 52:47
  look
• 52:48
  at
• 52:48
  it
• 52:48
  is
• 52:48
  that
• 52:48
  the
• 52:48
  opportunity
• 52:49
  that's
• 52:49
  still
• 52:49
  here,
• 52:49
  where
• 52:50
  if
• 52:51
  those
• 52:51
  larger
• 52:51
  groups
• 52:52
  or
• 52:52
  the
• 52:52
  industry
• 52:53
  as
• 52:53
  a
• 52:53
  whole
• 52:53
  is,
• 52:54
  or
• 52:54
  whoever
• 52:54
  you
• 52:55
  are
• 52:55
  is
• 52:55
  saying,
• 52:55
  wow,
• 52:55
  this
• 52:56
  is
• 52:56
  such
• 52:56
  a
• 52:56
  great
• 52:56
  deal.
• 52:57
  Then
• 52:58
  the
• 52:58
  opportunity
• 52:58
  is
• 52:59
  lost,
• 52:59
  right?
• 52:59
  Because
• 53:00
  you've
• 53:00
  missed
• 53:00
  the
• 53:00
  boat
• 53:00
  in
• 53:01
  a
• 53:01
  certain
• 53:01
  way
• 53:01
  where
• 53:02
  the
• 53:02
  opportunity
• 53:02
  now,
• 53:03
  for
• 53:03
  those
• 53:04
  that
• 53:04
  are
• 53:04
  developing
• 53:04
  the
• 53:05
  campgrounds
• 53:05
  that
• 53:05
  are
• 53:05
  looking
• 53:06
  at
• 53:06
  diversified
• 53:07
  and,
• 53:07
  or
• 53:07
  upgrade
• 53:08
  or
• 53:08
  sale
• 53:08
  or
• 53:08
  transition
• 53:09
  groups
• 53:10
  looking
• 53:10
  to
• 53:11
  upgrade.
• 53:12
  Organization,
• 53:13
  whatever
• 53:14
  shape
• 53:14
  or
• 53:14
  form.
• 53:15
  I
• 53:15
  think
• 53:15
  the
• 53:15
  winners
• 53:16
  moving
• 53:16
  forward
• 53:17
  are
• 53:17
  the
• 53:17
  ones
• 53:17
  that
• 53:17
  are
• 53:17
  just
• 53:18
  flying
• 53:18
  below
• 53:19
  the
• 53:19
  radar,
• 53:19
  scrap
• 53:20
  it
• 53:20
  out.
• 53:20
  The
• 53:20
  winners
• 53:21
  right
• 53:21
  now
• 53:21
  are
• 53:21
  still
• 53:22
  working
• 53:22
  and
• 53:22
  still
• 53:22
  mining
• 53:23
  things
• 53:23
  out
• 53:24
  at
• 53:24
  the
• 53:24
  moment,
• 53:25
  because
• 53:25
  if
• 53:25
  it
• 53:25
  was
• 53:25
  the
• 53:26
  other
• 53:26
  way
• 53:26
  of
• 53:26
  look
• 53:26
  at
• 53:26
  this
• 53:27
  deal
• 53:27
  and
• 53:27
  look
• 53:27
  at
• 53:27
  this
• 53:27
  deal,
• 53:28
  look
• 53:28
  at
• 53:28
  this
• 53:28
  deal.
• 53:28
  We're
• 53:28
  past
• 53:29
  it
• 53:29
  and
• 53:29
  you've
• 53:29
  missed
• 53:29
  the
• 53:29
  boat
• 53:30
  is
• 53:30
  the
• 53:30
  way
• 53:30
  that
• 53:30
  I
• 53:31
  look
• 53:31
  at
• 53:31
  it.
• 53:31
  So
• 53:31
  I
• 53:31
  think
• 53:31
  we're
• 53:31
  in
• 53:32
  it.
• 53:32
  And
• 53:32
  I
• 53:32
  think
• 53:33
  that's
• 53:33
  maybe
• 53:33
  one
• 53:34
  kind
• 53:34
  of
• 53:34
  one
• 53:34
  way
• 53:35
  to
• 53:35
  look
• 53:35
  at
• 53:35
  it
• 53:35
  that
• 53:36
  might
• 53:36
  give
• 53:36
  some
• 53:37
  context
• 53:37
  to
• 53:38
  the
• 53:38
  outdoor
• 53:38
  spaces
• 53:39
  in
• 53:39
  general,
• 53:39
  where
• 53:39
  we're
• 53:39
  still
• 53:40
  going
• 53:40
  like
• 53:40
  this.
• 53:41
  And
• 53:41
  we
• 53:41
  still
• 53:42
  don't
• 53:42
  have
• 53:42
  that
• 53:42
  deal
• 53:43
  structure
• 53:44
  where
• 53:44
  it's
• 53:44
  deal
• 53:44
  after
• 53:44
  deal,
• 53:45
  which
• 53:45
  leads
• 53:45
  me
• 53:46
  to
• 53:46
  believe
• 53:46
  it's
• 53:46
  about
• 53:47
  to
• 53:47
  happen.
• 53:47
  And
• 53:47
  we're
• 53:47
  on
• 53:47
  that
• 53:48
  cusp
• 53:48
  because
• 53:48
  if
• 53:48
  it
• 53:49
  was
• 53:49
  going
• 53:49
  this
• 53:49
  way,
• 53:50
  maybe,
• 53:50
  but
• 53:50
  we're
• 53:51
  here
• 53:51
  and
• 53:51
  we're
• 53:52
  not
• 53:52
  quite
• 53:52
  at
• 53:52
  that
• 53:52
  deal
• 53:53
  after
• 53:53
  deal,
• 53:54
  then
• 53:54
  that
• 53:54
  means
• 53:54
  that's
• 53:54
  about
• 53:54
  to
• 53:55
  happen.
• 53:58
  That's
• 53:58
  a
• 53:58
  good
• 53:58
  point.
• 53:59
  Awesome.
• 54:00
  Nobody
• 54:00
  else
• 54:00
  has
• 54:00
  anything
• 54:01
  that
• 54:01
  I've
• 54:02
  got
• 54:02
  fireworks
• 54:02
  going
• 54:02
  behind
• 54:03
  me
• 54:03
  cause
• 54:03
  apparently
• 54:03
  my
• 54:04
  one
• 54:04
  hour
• 54:04
  YouTube
• 54:04
  loop
• 54:05
  of
• 54:05
  happy
• 54:05
  new
• 54:05
  year
• 54:06
  got
• 54:06
  over.
• 54:06
  That's
• 54:06
  a
• 54:06
  good
• 54:07
  indicator.
• 54:07
  We
• 54:07
  should
• 54:07
  stop
• 54:08
  talking
• 54:08
  to
• 54:08
  each
• 54:08
  other
• 54:08
  now.
• 54:08
  So
• 54:09
  I
• 54:09
  really
• 54:09
  appreciate
• 54:10
  you
• 54:10
  guys
• 54:10
  joining
• 54:10
  us
• 54:10
  for
• 54:10
  another
• 54:11
  episode
• 54:11
  of
• 54:11
  MC
• 54:11
  Fireside
• 54:12
  Chats.
• 54:12
  A
• 54:12
  great
• 54:13
  discussion
• 54:13
  on
• 54:13
  2022,
• 54:14
  looking
• 54:14
  forward
• 54:14
  to
• 54:15
  having
• 54:15
  these
• 54:15
  conversations
• 54:16
  with
• 54:16
  all
• 54:16
  of
• 54:16
  you,
• 54:16
  with
• 54:16
  all
• 54:17
  of
• 54:17
  the
• 54:17
  people
• 54:17
  who
• 54:17
  were
• 54:17
  watching
• 54:18
  going
• 54:18
  forward
• 54:18
  as
• 54:18
  we
• 54:19
  continue
• 54:19
  to
• 54:19
  push
• 54:19
  forward
• 54:20
  with
• 54:20
  these
• 54:20
  different
• 54:20
  kinds
• 54:20
  of
• 54:20
  stations
• 54:21
  on
• 54:21
  the
• 54:21
  show.
• 54:21
  So
• 54:21
  as
• 54:22
  a
• 54:22
  reminder,
• 54:22
  we
• 54:22
  are
• 54:22
  available
• 54:23
  as
• 54:23
  a
• 54:23
  podcast,
• 54:24
  apple,
• 54:24
  Google,
• 54:24
  Spotify,
• 54:25
  all
• 54:25
  that
• 54:25
  kind
• 54:25
  of
• 54:25
  stuff.
• 54:25
  You
• 54:25
  can
• 54:26
  see
• 54:26
  this
• 54:26
  episode
• 54:26
  and
• 54:26
  the
• 54:26
  other
• 54:27
  ones
• 54:27
  at
• 54:27
  MC
• 54:28
  Fireside
• 54:28
  Chats
• 54:28
  dot
• 54:29
  com
• 54:29
  as
• 54:30
  well
• 54:30
  as
• 54:30
  a
• 54:30
  few
• 54:30
  other
• 54:30
  places.
• 54:31
  And
• 54:31
  we
• 54:31
  will
• 54:31
  see
• 54:31
  you
• 54:32
  next
• 54:32
  week
• 54:32
  for
• 54:32
  a
• 54:33
  super
• 54:33
  secret
• 54:35
  thing
• 54:35
  that
• 54:35
  I
• 54:35
  can
• 54:36
  talk
• 54:36
  about.
• 54:37
  But
• 54:38
  it's
• 54:38
  going
• 54:38
  to
• 54:38
  be
• 54:38
  really
• 54:39
  cool.
• 54:39
  And
• 54:39
  it's
• 54:40
  an
• 54:40
  exciting
• 54:40
  thing.
• 54:40
  That's
• 54:40
  never
• 54:41
  happened
• 54:41
  before.
• 54:42
  We're
• 54:42
  going
• 54:42
  to
• 54:42
  give
• 54:42
  the
• 54:42
  whole
• 54:43
  show
• 54:43
  over
• 54:43
  to
• 54:43
  this
• 54:43
  topic.
• 54:44
  So
• 54:44
  we'll
• 54:44
  promote
• 54:45
  that
• 54:45
  probably
• 54:45
  tomorrow
• 54:46
  we'll
• 54:46
  set
• 54:46
  up
• 54:46
  the
• 54:46
  announcements
• 54:47
  and
• 54:47
  the
• 54:47
  alerts
• 54:47
  and
• 54:47
  stuff,
• 54:47
  but
• 54:48
  nobody's
• 54:48
  going
• 54:48
  to
• 54:48
  know
• 54:48
  what
• 54:48
  happens
• 54:49
  until
• 54:49
  it
• 54:50
  actually
• 54:50
  happens.
• 54:50
  So
• 54:52
  want
• 54:52
  to
• 54:52
  tune
• 54:52
  in,
• 54:53
  it's
• 54:53
  gonna
• 54:53
  be
• 54:53
  a
• 54:53
  really
• 54:53
  cool
• 54:53
  show.
• 54:54
  We've
• 54:54
  never
• 54:54
  done
• 54:54
  anything
• 54:54
  like
• 54:55
  it
• 54:55
  before,
• 54:55
  so
• 54:56
  I'm
• 54:56
  not
• 54:56
  even
• 54:56
  gonna
• 54:57
  lead
• 54:57
  it.
• 54:57
  Like
• 54:57
  it's
• 54:57
  going
• 54:57
  to
• 54:58
  be
• 54:58
  interesting
• 54:58
  cause
• 54:58
  I'm
• 54:59
  not
• 54:59
  going
• 54:59
  to
• 54:59
  lead
• 54:59
  it.
• 55:00
  So
• 55:00
  we
• 55:00
  definitely.
• 55:05
  Okay.
• 55:05
  Thank
• 55:05
  you
• 55:05
  guys.
• 55:06
  Appreciate
• 55:06
  it.
• 55:06
  And
• 55:06
  we
• 55:06
  will
• 55:06
  see
• 55:07
  you
• 55:07
  next
• 55:07
  week.
• 55:07
  Take
• 55:08
  care
• 55:08
  guys.
• 55:08
  Happy
• 55:08
  20.