Question · Q3 2025
Amadeo Ocasana asked about the $0.10 gap in the core FFO guidance range so late in the year, inquiring what factors drive the upper or lower end. He also asked about initiatives to convert transient business to annual stays and the success of these conversions.
Answer
Paul Seavey, EVP and CFO, stated there was no specific signal for the range difference, mentioning potential volatility from storm events (not factored), meaningful MH occupancy acceleration, or expense changes (e.g., tariffs). Patrick Waite, President and COO, noted that 15-20% of annual customers previously stayed as transient or seasonal, indicating a consistent pipeline. He emphasized the focus on providing high customer service and offering longer-term stays to guests on site.