$30,000 a week RV rentals seeing 'unbelievable' demand
Forget Italy or the Maldives. This summer everyone seems to be on the street. RV dealers across the country are reporting high demand as people are looking for a way to travel and stay socially distant.
The camper lifestyle can be an affordable alternative to booking flights and hotels, but there is a whole luxury camper subset that is anything but economical.
“It's a kind of world that most people are not familiar with unless you happen to happen to one on the street while on vacation. But these things are worth well over $ 2 million, "said Jer Goss, CEO of luxury motorhome company Goss RV, to the Yahoo Finance final round. “It's a big apartment. The extending walls create a lot of additional space inside. It is basically a luxurious home on wheels. "
Take the Prevost Legendary. It's a 45-foot RV with 3 TVs that is rented for $ 3,500 a day. This is a bargain compared to this Prevost marathon that Goss RV rents for $ 7,900 a day, $ 39,500 a week, or $ 158,000 a month.
"We have never seen anything like this"
"It was incredible," said Goss, describing the increase in demand this spring. In the first three weeks of May alone, inquiries rose by over 350%. It was a major reversal of the immediate COVID-19 response.
“We just came to a standstill around mid-March. And not only that, we probably had 10% sales in April. "
While one-way rentals outside of New York City started early and the economy started to open, the locks are now open and the demand for Goss RV has never been so high.
"We have never - we have many partners in this branch too. We sell them. We rent it out. And so it's easy - it's amazing. We have never seen anything like it. There are facilities where all products are sold out. We put people on the street. So it's crazy right now. "
RV shares on the move
The so-called “stay-at-home trade” was hot this spring, and Peloton (PTON) and Netflix (NFLX) benefited from people who sought protection locally. Mobile home retailing is also growing rapidly. RV and camping companies, including Winnebago (WGO), Thor Industries (THO) and Camping World Holdings (CWH), have found that their stocks are not only recovering from the year's lows, but are also turning positive.
Jen Rogers is an anchor for Yahoo Finance. Follow her on Twitter @JenSaidIt.
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