Kampgrounds of America, Inc. (KOA) said its third-quarter revenue through September is up 37% from the same time a year ago.
KOA said revenues are 29% ahead of the third quarter of 2019, which was KOA’s highest-grossing year in its 59-year history.
“We continue to see impressive growth as we progress through 2021,” said Toby O’Rourke, KOA president and CEO.
The 2021 success includes a 43.4% increase in advanced deposits on future business over 2020, KOA said. KOA also grew franchise contracts and its company-owned portfolio, adding two new campgrounds, four new construction contracts and two owned locations.
“The pandemic served as a catalyst for many people to try camping for the first time and we are not only seeing a lot of these new campers continuing to enjoy camping, but we are seeing them choose to do it at KOA,” O’Rourke said. “We believe the strong momentum we saw this quarter will continue through the remainder of the year and well into 2022.”
KOA reported a 45.9% increase in short-term, year-to-date revenue through September over the same period in 2020. When compared with 2019, short-term revenue through the third quarter is up nearly 34%.
Occupancy improved during the first three quarters of 2021. Occupancy is 35.6% ahead of 2020 levels and 18.1% over 2019.
KOA added six franchise contracts, including four new construction contracts. In the third quarter, campgrounds in Waterloo, New York and Elko, Nevada converted to KOA system
Four new construction contracts signed with KOA in the second quarter of 2021. These new contracts join nine new construction contracts secured in the first two quarters.
“The continued growth of new construction within KOA is unprecedented,” O’Rourke said. “The value of owning a campground is attracting business owners who want to create a top-of-the-line experience from the ground up. With nearly 60 years of industry knowledge, KOA is positioned to help these campgrounds succeed from the moment they break ground.”
KOA is expanding its owned campground portfolio. In the third quarter, KOA acquired two new campgrounds and bought land in Texas for future development.
“KOA has a continued interest in adding additional franchised locations and owned properties to the KOA brand,” O’Rourke said. “While there is a financial component to building our owned portfolio, it also improves our work as franchisors because our team understands the ins and outs of camping and campground ownership. This makes the KOA brand a true leader within the camping industry.”