According to its fourth quarter business report, Kampgrounds of America, Inc. (KOA) increased its revenue by 33.2% over 2020 and by 33% over 2019, the company’s previous highest-grossing year.
Advanced deposits on future business are up 51% over the previous year, indicating growth will continue into 2022. Additionally, KOA added 13 new campgrounds, 13 new construction contracts and 15 owned locations in 2021.
KOA reported a 41.8% increase in short-term revenue in 2021. Short-term revenue is up over 38% from 2019, the previous record. Short-term occupancy for 2021 increased 31.4% and 21.7% over 2020 and 2019, respectively.
While slightly down compared with 2020, KOA shares increased from 2019 across long-term business. End-of-year reporting indicates that long-term registration revenue was up 9.3%.
Across all businesses, KOA’s occupancy finished 2021 up 5.6% over 2020 and 12.7% over 2019. Toby O’Rourke, KOA president and CEO, said the company is excited to enter its 60th year with its strongest recorded financial performance and strong future growth indicators.
“The pandemic served as a catalyst for many people to try camping for the first time,” O’Rourke said, “and with a 51.1% increase in advanced deposits, that is not slowing down. People are choosing to camp over other travel options and they are choosing to camp at KOAs.”
KOA reported 26 new franchise locations across the KOA system. Thirteen of the locations added in 2021 are new construction contracts, indicating demand for more camping inventory.
In the fourth quarter of 2021, KOA added five new conversion campgrounds as well as a new construction contract. These contracts add KOA campgrounds in Emporia, Virginia; Burney Falls, California; Montgomery, Alabama; Ogallala, Nebraska and Sutherlin, Oregon.
Ann Emerson, KOA franchise chief operating officer, said increased campgrounds and KOA partners are encouraging.
“Both longstanding campgrounds and new players starting from the ground up know that KOA can help them deliver a top-of-the-line experience that is trusted among campers and travelers,” Emerson said. “We are well poised to continue leading the camping market.”
KOA reported a 99% renewal rate on existing franchise contracts in 2021.
In 2021 KOA added 15 new campground locations or land for future development. In addition, KOA reports four dispositions.
In the fourth quarter of the year, KOA acquired three new campgrounds and purchased land in Florida, California and New York for future development. The three campgrounds added to the portfolio were Covert/South Haven KOA Holiday in Michigan, Sunbury/Columbus North KOA Holiday in Ohio and North Pole Resorts in New York.
Darin Uselman, KOA’s chief operating officer of owned and operated KOA assets, said the company continues to be interested in adding franchisees.
