Looking forward to 2025
Montana is just a different dynamic. Demand from paying customers well exceeds supply. Then factor in weather and the lack of competition for sports entertainment and you have a recipe for success with premium seating. Davis has more supply than demand and as Fugawe astutely points out, the capex associated with traditional suites does not present a compelling economic opportunity. What a lot of schools are doing now is building a club experience in one of the end zones. This provides a differentiated experience (aka an expensive bar) that generally pencils from year 1.