Introduction
The RV park and campground industry has seen significant evolution over the years, adapting to changing consumer preferences and industry trends.
Longevity and Growth
One of the key findings of the report is the longevity of many parks and campgrounds. Remarkably, 70% of the parks have been in operation for at least 20 years, with 42% operating for over 50 years. This longevity underscores the stability and enduring appeal of the RV and camping lifestyle.
Ownership and Operational Structures
The report highlights that the majority of RV parks and campgrounds are individual or independently owned small businesses, accounting for 78% of the total. Only a small fraction are corporate-owned (9%), franchised (6%), or membership-owned (4%). This trend reflects the personalized and community-oriented nature of the industry.
Expansion and Development
The report also notes an increase in available acreage for development and expansion. In 2023, 65% of parks reported having land available for development, compared to 55% in 2021. This indicates a growing interest in expanding facilities to accommodate increasing demand.
Conclusion
The RV park and campground industry continues to thrive, with long-standing operations and a strong focus on independent ownership. The industry's willingness to expand and develop further highlights its resilience and adaptability.
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August 4, 2024. Michal Mohelsky, JD, MMCG Invest, LLC
Sources: ARVC, U.S. Census Bureau, Bloomberg
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