The portfolio came out of its operator transition carrying an inherited fee structure that was taking a large share of every booking before it reached the rent line. Owner returns suffered for it, and owner returns are what keep homes on a program. Pacer rebuilt that structure. Rent per available night rose 24.8% against 12.1% across the market, and occupancy rose 4.9 points against the market's 0.7.
“The revenue management strategy helped us gain trust with our owners after a somewhat tumultuous transition. We feel confident that Pacer is the best partner to help us achieve our goals.”
Alex Pedigo · Owner, Casago Long Valley & Treasure ValleyRevPAR counts total revenue: rent plus all the other fees a booking carries. RentPAR counts only the rent, which is the line an owner statement is paid from. Most operators track one and assume it speaks for the other. It does not, and the gap between them is where owner earnings quietly leak.
80-unit same-store cohort, May 1 to August 31 2026 against the same window in 2025. All figures are per adjusted available night, net of owner stays and maintenance holds. Market is Key Data comp sets matched to each unit's own bedroom count, on the same adjusted basis. Key Data's own Same-Store Only view over this window reports the portfolio at +30.6% against a market at +12.6%, on a slightly larger 91-unit cohort.
Long Valley's revenue was never really the problem. What was out of line was how much of that revenue reached owners. Going into this summer the portfolio was carrying a fee load of 68.2% of rent, far above the market, taken off the top of every booking before it ever reached the rent line.
A portfolio can look healthy on every dashboard an operator watches while the owners inside it are deciding the returns are not good enough. Fixing that is why rent per available night grew 2.1 times faster than the market this summer.
Pacer presented the fee strategy audit on May 12 and the cleaning rebuild six days later, and Long Valley approved and implemented it in-season. From that point the fee load fell in a straight line, from 89% of rent in April to 36% in July, closing most of the distance to the market. The prior year moved the opposite direction across the same months, which is what happens when nobody touches it.
Fees as a percentage of rent, 80-unit same-store cohort, night-allocated from the Pacer production database. Lodging tax is excluded on both sides. Across the full summer window the load moved 68.2% to 44.6% against a bedroom-matched market moving 33.3% to 27.7%.
Not a blanket discount. Cutting fees is easy and usually just moves the loss somewhere else. The work was to rebuild each charge against what it actually costs to deliver, so owners earn more, guests see a cleaner price, and the operator keeps the margin it needs to run the business.
A clean costs between $100 with the in-house team and $128 at contractor rates. Guests were being charged an average of $172. Pacer reset the fee to $128, the top of the actual cost range, cutting the guest charge 26% while keeping the portfolio in margin across the mix of cleans.
The inherited waiver was charged on every night of a stay. Together with housekeeping it added 18.3% on top of nightly rent. Pacer's audit recommended repricing it to a per-stay basis, and the reductions that followed landed primarily on this program.
A model fee per bedroom class with a 30% band for occupancy and square footage, replacing outliers where a 2-bedroom carried a higher fee than a 3-bedroom in the same town. Channel markups reset to cost; pet and hot tub fees folded into the nightly rate.
What this does to an operator's revenue base. Management fees are
earned on rent, and rent per available night rose 24.8%, so the commission line rose with it. The reductions
came out of fixed add-on charges, the most fragile revenue a manager carries: capped by what a
guest will accept at checkout, flat when the portfolio performs, and the first line owners
scrutinize. Commission on rent has none of those limits and compounds with every point of
RentPAR.
Source: Pacer revenue strategy audit presented 2026-05-12 and cleaning fee
rebuild presented 2026-05-18.
80 units with real availability in both summers. Units that joined or left the program are excluded, as is one property listed twice whose listings share availability.
Adjusted metrics divide by the nights a home was actually sellable, net of owner stays and maintenance holds, so a portfolio is not measured against inventory it never had available.
Pacer went live 2026-03-01. March and April were transition months and are excluded from the headline. The window is May 1 to August 31 against the identical window in 2025, both complete.
Pacer is a preferred revenue management partner to the Casago franchise network. We will benchmark your portfolio against bedroom-matched market performance and show you where owner earnings are leaking, before you make any commitment.
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