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Getting price-gouged by private equity in the UK's happiest resort (2023)

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Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#21

Post by vitus »

NeoTar wrote: post #15

> which is why it’s spelled in the somewhat Francophile Center Parcs, and not Centre Parks. (I thought this is why we did Brexit?) Pardon me? The French for center/centre is centre - the 're' ending of British English spelling is either taken from the French, or sometimes a direct reference to French spelling (i.e. 'prestige' spelling - like how some American publications will use British English spelling because the…

I imagine the "Francophile" comment is referring to "parcs" instead of "parks", but it's fascinating that they swapped out both spellings rather than choosing to be consistent with a single style.

Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#22

Post by rwmj »

jampekka wrote: post #14
zpeti wrote: post #8

So building an amazing product (as the author says), and then charging however much you can for it is “price gouging” (Thanks Kamala. The only reason I imagine this article popping up now is the price gouging wording) As far as I knew from econ 101 this is generally just supply and demand and efficient pricing. If the price is too high, don’t buy it!!

What did the PE company build here?

It says in the article the current PE company invested millions to update the sites.

Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#23

Post by scoot »

pbhjpbhj wrote: post #7
blitzar wrote: post #2

This is really a story about EBITDA. "People who use EBITDA are either trying to con you or they're conning themselves."

https://en.wikipedia.org/wiki/Earnings_before_interest,_taxe... Earnings Before Investment Taxes Depreciation & Amortisation

"earnings before interest, taxes, depreciation, and amortization"

Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#25

Post by davidt84 »

kwhitefoot wrote: post #13
lol768 wrote: post #5

This is really partially the government's fault. Parents are fined and (in a minority of cases) imprisoned for taking children out of school in term-time. Usually it's the ones who are honest that end up getting in trouble, and the others that can pass it off as sickness get away with it. During Covid and recent NASUWT/NAHT/NEU strikes though, it's seemingly not been seen as a problem for kids to miss out significant…

We took our children out of school for three months about twenty years ago because I had the opportunity to work for that period in the US. We asked the school to provide the targets for the period for each child and my wife ensured that the children did a few hours work every day, not a whole day by any means. When we got back to Norway all three of the children were ahead of their classes. In Norway there seems to…

There's a difference between withdrawing your child from school and them remaining registered but simply not attending.

Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#26

Post by lotsofpulp »

londons_explore wrote: post #10

Notably... This business owns a lot of forest in the UK. The UK doesn't have much forest. So, they can make themselves appear more valuable by pushing up the price of forest land. Forest land used to be priced based on the lumber value - which is almost nil. There was also the pricing element of the possible agricultural value if it were to be cut down (which is also almost nul, because the land is usually unsuitable…

> Most don't sell, but a few do - and thats all you need to make the basis of a new market price.

That seems like an elementary mistake for a buyer/lender (who would be appraising the property for use as collateral). Unless the lender has a too big to fail guarantee where everyone but the taxpayer wins as long as a plausibly deniable deal is made.

As an aside, the linked article has no substance to support its theory.

Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#27

Post by tomrod »

vitus wrote: post #21
NeoTar wrote: post #15

> which is why it’s spelled in the somewhat Francophile Center Parcs, and not Centre Parks. (I thought this is why we did Brexit?) Pardon me? The French for center/centre is centre - the 're' ending of British English spelling is either taken from the French, or sometimes a direct reference to French spelling (i.e. 'prestige' spelling - like how some American publications will use British English spelling because the…

I imagine the "Francophile" comment is referring to "parcs" instead of "parks", but it's fascinating that they swapped out both spellings rather than choosing to be consistent with a single style.

My naive mind thought parc was short for parcel.

Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#28

Post by snakeyjake »

I assert that if the occupancy rate is 80%, they're charging exactly what they should be charging.

If you own a hotel in the US, you are over the moon if you achieve a >70% occupancy rate. You are a hotel god. You are a master of the hospitality domain, Cornell will give you an honorary degree in Hotel Management, and you have made both supply and demand your bitch.

"Oh my! Why is this four bedroom luxury lodge with hot tub and pool table, very obviously meant to be split amongst four couples eight ways, an entire fourteen hundred bucks ($175 ea.) per night?"

Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#29

Post by NeoTar »

kwhitefoot wrote: post #13
lol768 wrote: post #5

This is really partially the government's fault. Parents are fined and (in a minority of cases) imprisoned for taking children out of school in term-time. Usually it's the ones who are honest that end up getting in trouble, and the others that can pass it off as sickness get away with it. During Covid and recent NASUWT/NAHT/NEU strikes though, it's seemingly not been seen as a problem for kids to miss out significant…

We took our children out of school for three months about twenty years ago because I had the opportunity to work for that period in the US. We asked the school to provide the targets for the period for each child and my wife ensured that the children did a few hours work every day, not a whole day by any means. When we got back to Norway all three of the children were ahead of their classes. In Norway there seems to…

There are staggered holidays, but it's uncoordinated, based around local council areas - i.e. areas with a population of a hundred-thousand to around a million people. One council may run mid-July to end-of-August, another council a week earlier, and a third a week later.

The UK summer vacation (summer holiday in British English) is significantly shorter than in other countries - only six weeks, where I understand eight or nine is common in other European countries. This probably significantly adds to the holiday congestion and higher surge pricing.

Re: Getting price-gouged by private equity in the UK's happiest resort (2023)

#30

Post by blitzar »

kamaal wrote: post #24
blitzar wrote: post #2

This is really a story about EBITDA. "People who use EBITDA are either trying to con you or they're conning themselves."

Im not able to see the context here. How is it a con?

https://brk-b.com/why-charlie-munger-despised-ebitda_240201....
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