b'INDUSTRY NEWSJellystone Parent Sun Communities Revenue Up 41%Sun Communities Inc. reported thatInc. for a total purchase price of $23.0 revenues increased $158.2 million, ormillion. LSI is the franchisor for the Yogi 41.2%,duringthecompanysfourthBears Jellystone Park Camp-Resort sys-quarter, which ended on Dec. 31.tem. SunCommunities,aSouthfield,Development Activity Mich.-basedrealestateinvestment Sun completed the construction of trust that owns and operates manufac- nearly 450 sites in six ground-up develop-tured housing communities, RV resortsments and over 250 expansion sites in and marinas, is the parent company ofthree MH communities and three RV re-Sun Outdoors.sorts. It was announced in late December Sun completed the construction of to Yogi Bears Jellystone Park Camp-Re- over 1,030 sites in eight ground-up de-sort franchisees that Leisure Systemsan incredibly productive year for SunUK, an owner and operator of holidayvelopments and re-developments, and Inc. (LSI), the franchisor of more thanCommunities, where we made mean- communities in the United Kingdom,nearly 580 expansion sites in six MH 70 Jellystone Park locations in Northingful progress in each of our internalfor 950 million, or approximately $1.3communities and five RV resorts. America,hadbeenacquiredbySunand external growth initiatives, saidbillion. The company anticipates thatThefirmacquiredeightland Outdoors.Gary A. Shiffman, chairman and CEO.the closing of the Park Holidays acqui- parcels, which are located across the Total revenues for 2021 increased by During and subsequent to the yearsition will occur in mid-March of 2022.U.S and U.K. for the potential develop-$874.3million,or62.5%,toapproxi- ended Dec. 31, the company acquiredThe closing of the Park Holidays Acqui- ment of nearly 3,300 sites, for total con-mately $2.3 billion compared to $1.456 properties totaling 16,045 sites, wetsition is subject to the receipt of a re- sideration of $165.1 million. billion for the same period in 2020.slips and dry storage spaces, and 1,062quired regulatory approval. There can Sun acquired 11 land parcels, which Acquisitions totaled $385.4 millionsites for expansion for a total purchasebe no assurances as to the actual clos- are located across the United States and during and subsequent to the quarterprice of $1.5 billion.ing or timing of the closing, Sun indi- the United Kingdom, for the potential ended Dec. 31, including 12 RV resorts During the quarter ended Dec. 31,cated.development of nearly 4,000 sites for a and seven marinas.the company entered into a definitive During the quarter ended Dec. 31,total purchase price of $172.8 million.A strong fourth quarter concludedagreementtoacquireParkHolidaysthe company acquired Leisure SystemsWCMPathfinder Ventures Update Highlights GrowthPathfinder Ventures Inc. highlightedchange under ticker symbol RV. its growth in a business update to in-Two RV camp-resorts are fully reno-vestors at the beginning of February. vated and open for business in 2021. The investment firm currently owns Major infrastructure upgrades at two three parks in Canada and plans to ex- locations with respect to water, sewer, pand.Itannouncedinmid-Februaryelectrical and Wi-Fi to accommodate the that it had entered into a letter of intentmodern-day RV requirements. (LOI) with Black Sheep Income Corp. Three brand new playgrounds, one (BSIC), a private British Columbia com- new pool and one refurbished pool were pany with RV and self-storage assets, toIts clear that electric vehicles are theadded to Agassiz and Parksville. acquire all of the shares of BSIC for away forward, and RVs are no exception, The company reports strong Q3 fi-combination of Pathfinder shares andsaid Joseph Bleackley, founder and CEOnancials, demonstrating steady RV and cash.at Pathfinder Ventures. Pathfinder Ven- camping demand. Camping WorldPathfinder will also acquire the con- tures is pledging to support electric RVs 100% winter program occupancy at tracts from BSIC to purchase two existingwith charging stations and the requiredFort Camping in Fort Langley. Reports RecordRV parks and campgrounds, one locatedelectrical infrastructure at each of our Expansion plans were in place as the in Columbia Valley along the Kooteneyparksastheycomeavailable. Wearecompany entered into an agreement to River of B.C. and the other along thebuilding our Pathfinder Camp-Resorts toacquire a 1.9-acre property adjacent to $6.9B in RevenueNorthSaskatchewanRiverinthesupport the customers of today and forits existing Pathfinder Camp Resort loca-foothills of the Rocky Mountains of Al- the next 50 years.tion in Agassiz B.C. CampingWorldberta.Someofthe West Vancouver,B.C., Pathfinder Ventures adds two mem-Holdings Inc. has re- The company also made a commit- companys highlights in 2021 include: bers with over 60 years combined experi-ported results for thement to invest in electric vehicle technol-The company goes public and be- encetoitsadvisoryboard,Shenoor fourthquarterandogy at its parks. ginstradingontheTSXVentureEx- Jadavji and Randy Hendrickson. WCMfull-year ended Dec. 31,highlightedbyBlue Water Continues Aggressive Acquisitive Pacefull-yearrevenueof $6.9billion,anin- Blue Water, a real estate investmentfirst in Kentucky and its second Jelly-crease of $1.5 billion,Marcus Lemonis andoutdoorhospitalitymanagementstone Park collaboration, after the Yogi or 26.9%. company based in Ocean City, Md., con- BearsJellystoneParkatDelaware Fourth quarter revenue was a record oftinues to expand its portfolio through ac- Beaches, which was acquired in Novem-$1.4 billion, a hike of $243.8 million, orquisitions. ber 2020. 21.5% for the nations largest RV dealer.At the end of January, the companyBlue Water also acquired Outlanders Since we took the company public at theannounced a partnership with Virginia- River Camp in Luray, Va., rebranding it end of 2016, we have almost doubled our an- basedNationalLandLeaseCapitalLuray RV Resort on Shenandoah River. nual revenue to $6.9 billion and more than(NLLC) as a new management client forThe property currently has three deluxe tripled our annual net income and AdjustedTropic Island Resort and Island RV Re- NLLC plans to continue expanding itscabins, 42 RV sites and approximately 15 EBITDA to $642 million and $942 million, re- sort, a portfolio of almost 400 sites re- partnership with Blue Water, with theplatforms for camping. Over the course spectively, stated Marcus Lemonis, chair- centlypurchasedbyNLLCsaffiliatedoverall goal to assemble a national port- ofdevelopment,BlueWaterwillbe man and CEO of Camping World Holdings Inc.fund management business. folioofcampgroundsandRVresortsadding approximately 150 additional RV It is our management teams plan toThe ownership group and real estatewith a target value of $200 million withinsites, 75 new cabins and 60 new glamp-continuepositioningthecompanyforinvestment company, NLLC, is led bythe next two years or less. Blue Watering tents. growth over the next five years. The long- Yogi H. Singh, Stewart M. Garland andproperties include 25 RV resorts.Luray RV Resort on Shenandoah River term trends along with our strong cashPushkal Basavaraj. NLLC specializes inAlong with that announcement, Blueis the seventh campground and ninth flow have us focused on three things:the acquisition, development, manage- Water also made a splash when it ac- Blue Water property overall in Virginia.growing our business, repurchasing ourmentandrepositioningofadiversequired the Yogi Bears Jellystone Park atBlue Water is also working with the shares, and returning capital to our share- spectrumofrealestateassetswithaMammoth Cave in Kentucky. The prop- Mashantucket Pequot Tribe on a 300-site holders, he added. WCM focus on the outdoor hospitality sector.erty, located in Cave City, is Blue Waterspark development in Connecticut.WCM4 April 2022 Woodalls Campground Magazine'