WASHINGTON: Through the first three quarters of 2015, the Cajun RVera showed operating revenues up more than 30 percent compared to the same period last year. That said, RV park officials still are striving to generate enough income to cover debt payments on the $5 million borrowed to construct the $7.5 million facility.
According to figures from the Iberia Parish Government Finance Department, revenue increased by $177,379 from Jan. 1 through Sept. 30 of this year, representing a 32.11-percent hike over last year’s revenue of $552,366 for the same period.
A comparison of RVera operations for 2014 and 2015 are slightly unbalanced because there were no revenue and expenses for almost all of the first quarter because the facility opened at the end of March 2014.
Acadiana Fairgrounds Commission member Charlie Sanders, however, said the vital time between Easter and Labor Day are included. “That’s where you make your real money,” he said. Rentals for recreational vehicle pads — rates for which vary by day, week, month or during a holiday — improved from $247,277 last year to $341,711 this year, a 38.19-percent increase.
Day passes which allow guests not camping at the park to use the pool area, increased from $104,132 last year to $135,262 this year, a 29.89-percent increase. The passes are $10 per person Monday through Friday and $20 per person on weekends. However, guests who are accompanying campers pay $10 per pass on weekends. “I can tell you, very few pay $20,” said Carroll Boudreaux, who recently resigned as AFC chairman.
According to RVera point-of-sale numbers, the pool area’s bar revenue increased from $108,643 last year to $146,324 this year, a 34.7-percent increase, with concession stand sales adding $56,769 last year and $80,839 this year, a 42.4-percent increase.
Operating expenses for everything except debt payments for the RVera were $419,195 for the first three quarters last year, with that number increasing to $546,845 for the same period this year, an increase of more than 30.5 percent.
At this point, the RVera has covered its operating expenses, but to this point, Iberia Parish Government has had to pay principle and interest payments toward the $5 million borrowed for the project. Debt payments added $359,419 to expenses in 2014 and $370,824 in the first three quarters of this year.
Although operating figures showed a “profit” of $133,171 in the first three quarters of 2014 and an operating profit of $182,899 during the same period in 2015, a 37.3 percent improvement, neither includes debt payments, which were covered by parish government.
When looking at all income and expenses, including debt payments owed, RVera showed a deficit of $226,248 at the end of the third quarter of 2014 and is in the red for the same period for 2015 by $187,924, an improvement of 17 percent.
Overall occupancy also has taken strides forward. Occupancy is calculated by comparing the number of spaces rented to the total number available in a given month. With 185 pads for RVs and motor homes, a 30-day month has a total of 5,550 available rentals, for example. July this year represents the highest one-month period of the RVera’s tenure, with 3,819 total rentals out of 5,735 available spots.