Glamping Resort Feasibility Study Near Oak Hill, West Virginia: 26 Units at New River Gorge on a USDA B&I Loan

Park demand has grown every year since redesignation, and the gap in local supply is real: purpose-built domes, safari tents and hot-tub cabins are thin within 25 miles, while the two big adventure resorts sell lodging as a companion to rafting and zip lines. That gap is the subject's opening. But per-unit rental revenue in Oak Hill is falling as new listings capture the growth, and the low season averages 28% occupancy. Underwritten at local rates, the resort earns $254,514 of net operating income. At the program's 25% equity tier that covers debt only 0.77 times. Sized to 1.25x, the market supports a $2.06 million B&I loan, and the sponsor carries just over half the cost.

National glamping surveys put the average daily rate at $251 (2025 report) and $304 (2026 report), and the 2026 edition restated 2025 at $239 [15]. Those are operator surveys with self-selected respondents. Locally, the best-documented hot-tub cabin in Oak Hill lists from $289 a night, and the main adventure resort's hot-tub cabins start at $249. The study prices domes at $255 and cabins at $235, inside the local band, and treats the national figures as upside. Camping demand nationally supports the format: KOA counts 52.16 million camping households in 2025, glamping at 29% of camping, and 54% of campers planning to glamp in 2026 [16].

Year-round units are underwritten at 45% annual occupancy, between AirROI's 39.6% and AirDNA's 53%, with the winter trough already inside that average. Tents are underwritten at 52% over their six-month season. Operating expenses total $542,966: payroll of $220,291 for a general manager, guest services, housekeeping and maintenance with a 20% burden; booking channels and card processing at 9% of lodging; utilities of $36,000; insurance of $40,000; property tax of $30,000 (a model assumption, since the county's total Class III levy was not found); and a 4% replacement reserve, set high because tent and dome covers wear quickly. Net operating income is $254,514, a 31.9% margin. The downside case cuts every rate 10% and occupancy 5 points, to $644,418 of revenue and $143,607 of net operating income. That mirrors the documented supply growth and Fayetteville's 11.8% ADR decline.

1. NPS monthly visitation for 2025 and 2026 pulled directly from the park's statistics system, current state traffic counts for I-64, I-77 and US 19, and a licensed 4- and 6-hour drive-time demographic study.
2. A paid comparable set (AirDNA or Key Data) for hot-tub cabins and glamping units within 25 miles, by month, to settle the 13-point occupancy gap between vendors.
3. A zoning officer's letter confirming the parcel's district under the county's Unified Development Code, and the status of the county's RV park regulations (Section 7001).
4. Plan review under 64CSR18 at least 45 days before construction. The campground permit expires each June 30, is not transferable on a change of ownership, and caps density at 25 sites per acre with 1,200 sq ft per site [23]. A ruling from WV DEP on whether the wastewater design flow triggers a state permit.
5. The county's 2026 Class III levy, utility tariffs and an insurance quote.
6. A parcel-level result on the USDA Eligibility Map. Unincorporated Fayette County near Oak Hill is far from any city of 50,000 [24].