Kampgrounds of America (KOA) reported revenue growth in the third quarter of 2.1% over the same period last year, based on a same-store basis.
The company said that advanced deposits on future business are up 4.5%.
KOA is coming off a record-setting year for revenue in 2021, it said.
The bulk of KOA’s business, short-term leisure travel, posted a 1.5% increase in same-store registration revenue over the first three quarters of last year. Conversely, occupancy decreased for the quarter by 6.6% as business adjusts to a new level established in 2021. Short-term occupancy for the period was up 29% from 2020 and 11.5% from 2019, the company said.
“Our business saw an exponential jump over the past two years. Rather than returning to pre-pandemic levels of occupancy, a new higher bar has been set.” said Toby O’Rourke, president and CEO of Kampgrounds of America. “Legions of new campers were drawn to the outdoors and that interest is poised to continue. Many of those who started camping over the past two years report that they plan to continue, particularly in the current economic climate as camping is largely viewed as an affordable vacation option. With deposits on future business sitting comfortably above this time last year, we are very optimistic about what lies ahead.”
Looking long-term, Kampgrounds of America said it posted a nearly 6% increase in registration revenue. Occupancy fell slightly and finished the quarter 4.2% behind 2021.
In the third quarter of 2022, KOA added two franchise locations to its network – one each in Colorado and Alaska and the one in the Land of the Midnight Sun brings that state’s total to four.
“Alaska has made a splash growing from zero locations to four in less than five years,” said Ann Emerson, chief operating officer of Kampgrounds of America Inc.’s franchise system. “It’s encouraging to grow new markets where we can introduce camping audiences to the service and hospitality of KOA.”
The company also expanded its corporate campground portfolio by one with an acquisition in Bakersfield, California.
