Setting your dockage rates each year has an enormous impact on the success of your season; it's possible you are setting them too low. As...
What is revenue per available linear foot (RevPFL)
We admit, it's not the easiest acronym to say, but RevPLF is a powerful one. Revenue per Available Linear Foot (RevPLF) is a combination metric of occupancy and average daily rate that enables you to assess your property's productivity over a given period of time.
What is needed to calculate a marina's RevPLF?
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Occupancy Rate
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Average Daily Rate
How to calculate a marina's RevPLF
Revenue per Linear Feet can be calculated using the following formula:
(Occupancy Rate) x (Average Daily Rate)
You can find formulas for Average Daily Rate and Occupancy Rate at the bottom of this post.
If you've measured it right, your RevPFL should be something like $1.69/ft - though the number will vary widely be marina. RevPLF is the key to unlocking your marina’s potential revenue which, if you were gearing up to sell your marina, is a major factor in benchmarking your value. If you have a good comp set of similar marinas on the market you can compare yourself against that index.
Even if you aren't selling your property, however, RevPLF is an incredibly helpful metric to understand for getting a view into your performance and opportunity. You can see if you are running ahead or behind your past averages and benchmark against peers in your comp set. See the image below with fsample data from a fictional marina.
Related Marina Metrics
