2.13.5Segment

Outdoor Recreation & Adventure

Campgrounds, ski resorts, outdoor adventure operators, and eco-tourism companies providing nature-based recreation.

4
Verticals

Overview

Outdoor Recreation & Adventure covers campgrounds and RV parks, ski resorts, marinas, adventure operators, and eco-tourism. Several sub-categories have become institutional asset classes — ski (Vail's Epic, Alterra's Ikon pass networks), marinas (Safe Harbor, Suntex), and RV resorts and campgrounds (KOA, Sun Communities) — drawing heavy private-equity and REIT capital.

Demand grew strongly with the outdoor and experiential-travel boom, and recurring pass and slip/site revenue supports attractive economics. Consolidation of fragmented marinas, campgrounds, and ski assets has been a defining trend.

Market snapshot

Market size
~$31B
Growth
~7.7%CAGR (2017–22, nominal)
Companies
~28,700
FragmentationConsolidating

U.S. Census Bureau 2022 CBP/Economic Census, NAICS 713920 (skiing) + 713930 (marinas) + 713990 (other recreation) + 532284 (recreational-goods rental).

Business model & economics

Revenue model
Passes, slip/site rentals, admissions, and rentals
Recurring revenue
Moderate–High — season passes and recurring slip/site fees
EBITDA margin
Strong for scaled pass and marina/campground operators
Capex intensity
High
  • Ski, marinas, and campgrounds became institutional asset classes.
  • Recurring pass and slip/site revenue underpins economics.
  • Heavy PE and REIT capital consolidating fragmented assets.

M&A deal context

High deal activity

Who’s acquiring

Ski, marina & campground platformsPE-backed and REIT consolidatorsOutdoor-recreation operators

What’s driving deals

  • Consolidation of marinas, campgrounds, and ski assets.
  • Outdoor and experiential-travel demand.
  • Recurring pass and slip/site revenue.

Verticals in this segment

  • 2.13.5.1Bike Rental & Eco-Tourism

    Outdoor bike rental and eco-tourism activity operators.

  • 2.13.5.2Campgrounds & RV Parks

    Campsite and RV park operators serving outdoor recreation guests.

  • 2.13.5.3Outdoor Adventure Operators

    Companies guiding hiking, rafting, kayaking, and adventure trips.

  • 2.13.5.4Ski Resorts & Mountain Recreation

    Mountain resort operators offering skiing and seasonal recreation.

Find Outdoor Recreation & Adventure acquisition targets

Search Acquisera’s index for companies classified under Outdoor Recreation & Adventure (2.13.5) and build a targeted deal pipeline.

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