Ten weeks in, booked revenue on the same homes is running +108% ahead of last year.

The same homes flipped from below the island to above it, while ADR rose 24 to 30 percent year over year in those months. That is the difference between owning a premium portfolio and pricing one.

Across all 16 homes the window produced 174 bookings and $1.17M in rent, against 94 bookings and $425.8K in the same window last year. Revenue that actually stayed inside the window, same homes: $666.8K vs $379.3K last year, up 76 percent on 34 percent more occupied nights.

The shape of the lift is the point. Every week under Pacer produces 47 percent more booked revenue than the average pre-Pacer week, and none of it comes from panic pricing: the rate is 18 percent higher, stays are longer, the booking lead time is essentially unchanged, and far-out demand (bookings more than 180 days ahead) is selling at the same weekly pace at higher dollars, $16.9K vs $14.7K per week. Fewer of the bookings fall apart too: cancellations dropped from 9.4 to 5.5 percent of bookings taken.

September, directly: September is Anna Maria's shoulder season. The whole market drops to 45 percent occupancy this month. The portfolio is running 50 percent, above the market on occupancy while carrying an ADR 144 percent above it, and September RevPAR is up 111 percent year over year against the market's 55. A quieter calendar in September is the island's shape, not a pricing failure, and this portfolio is beating the island at it.

On the month in question: last September this home produced $0 in rental revenue. The mechanism matters: the inherited annual minimum rate of $950 priced the home out of shoulder-season demand entirely. Pacer opened that floor to $825 for shoulder nights, accepting into the low $700s inside the booking window, and September sold: the calendar is fully open with no owner holds and already has $12.7K and 13 nights booked at a $975 average rate, above the old floor anyway, with more than two weeks still open to sell in a market that averages 45 percent occupancy this time of year. Zooming out: bookings taken on this home since the takeover are up from 7 to 12, booked rent from $29.2K to $62.2K, at a 17 percent higher ADR. August did finish 22 percent light on this house, and we say so; September, October, and December have already more than paid it back. The home already has more revenue booked for July through December than it earned across that entire stretch last year, with three and a half months still to book.

Reading the declines honestly: Cloud 9's drop is a single $35K fourteen-night stay that landed in last year's window and had no repeat this year; excluding that one reservation the home is ahead. "Record" marks a nightly rate above anything in the home's full reservation history before July 6, 2026. Homes marked new to data joined the program mid-2025 or later and have no same-window baseline.

Individual wins booked under Pacer pricing: a $40.7K fourteen-night summer 2027 direct stay at Serendipity Deux, a $38.6K seventeen-night Feb–Mar direct stay at Serendipity Gulf, Thanksgiving and New Year's weeks at Shangri-La for $24.9K and $22.1K, and Christmas week at Serendipity Deux for $23.5K.

A one-platform book is a fragile book. The direct, Vrbo, and Wander growth came on top of Airbnb growth, not instead of it. That mix protects the portfolio from any single channel's algorithm, fee changes, or demand swings, and the direct-channel surge keeps the most margin in the owner's pocket.

Even crediting the market for its share: if the same homes had simply grown with the Anna Maria market's 27 percent, the window would have booked about $527K of rent. It booked $862K. The commission on the roughly $335K above market trend is $60.3K, still more than $5 back for every $1 paid, all-in. Put another way: the commission on the all-homes lift, $133.6K, equals 42 months of Pacer fees at the current unit count, earned in ten weeks.