Pathfinder Ventures (TSX-V:RV) Inc has said it plans to aggressively add to its three operating RV (recreational vehicle) resorts under the Pathfinder Camp Resorts brand in 2022.
In a corporate update, the company said it is committed to developing the business opportunities that exist given the growing trend of people looking to explore, vacation, and reside in RVs.
"In 2022, Pathfinder is well-positioned to become the largest RV & Campground brand in British Columbia, and we are excited to enter the RV & Self Storage market to complement our RV Resorts and better serve our customers year-round," said Joe Bleackley, Pathfinder Ventures founder and CEO.
READ: Pathfinder Ventures inks deal to expand its RV resort in Agassiz, British Columbia
Pathfinder Ventures said plans are already in place to expand its Agassiz location while the company is also targeting a number of other properties in British Columbia (BC), executing a roll-up strategy to increase assets and cashflow. The company is targeting additional properties in the Southern Okanagan, Kootenays, and Sea-to-Sky regions
The company also noted that strong RV, boat, and outdoor recreation sales have also led to an increased demand for RV & self-storage. To complement its RV resorts, Pathfinder Ventures said it is looking at acquiring operational or developable land suitable for RV & self-storage businesses within close proximity to its Pathfinder Camp Resort locations.
Pathfinder achieved several milestones over the past year, while the RV industry remained strong and demand for modern RV parks continued. According to the RVIA Industry Report, Pathfinder noted, 2020 saw a year-on-year increase in RV shipments in North America of 6% due to a surge in sales, despite an RV industry shutdown that lasted 2 months. RV shipments increased over 39% in 2021 compared to 2020. In March 2021, monthly RV shipments hit a record 54,291 units, which was broken in September, and then again in October for a total monthly shipment of 57,971 units.
RV shipments in North America totaled 600,090 in 2021, a 39.45% increase from 2020. 11 out of 12 months broke shipment records for their respective months, the exception being December. The record for most RV shipments in one month was broken 3 times in 2021, with the new record of 57,971 - an increase of 12.3% over the previous monthly record set in 2018. RV shipments remained strong to close out 2021. Total shipments hit a record high in Q4 2021 compared to any other Q4 on record, and an increase of 13.23% compared year-on-year with 2020.
Significant milestones and achievements for Pathfinder in 2021 included:
- Two RV Camp Resorts fully renovated and open for business in 2021
- Major infrastructure upgrades at two locations with respect to water, sewer, electrical & WiFi to accommodate the modern-day RV requirements
- Three brand new playgrounds, 1 new pool and 1 refurbished pool added to Agassiz and Parksville
- Company reports strong Q3 financials, demonstrating steady RV and Camping demand
- 100% Winter Program occupancy at Fort Camping in Fort Langley
- Expansion plans in place as the company entered into an agreement to acquire a 1.892-acre property adjacent to its existing Pathfinder Camp Resort location in Agassiz British Columbia
- Company goes public and begins trading on the TSX Venture Exchange under ticker symbol RV.
- Pathfinder Ventures adds two members with over 60 years combined experience to its Advisory Board, Shenoor Jadavji and Randy Hendrickson.
- Agassiz and Parksville Under Extensive Renovations and Upgrades
Pathfinder Ventures is developing a network of premier branded, upscale, and family-friendly RV parks and campgrounds under the 'Pathfinder Camp Resorts' name. Pathfinder currently has three camp resorts located in BC and is focused on growing its network through both acquisitions and new construction. The corporation is taking advantage of the rapidly growing market of Canadians who want to experience the great outdoors in an RV.
Pathfinder Ventures Q3 2021 financial results for the three months ended September 30, 2021, showed revenues of C$1,175,226 and an adjusted EBITDA of C$559,92
Contact the author at jon.hopkins@proactiveinvestors.com