About KCN
At KCN, we see the Outdoor Hospitality sector at the forefront of a transformational growth cycle—one that mirrors the evolution of other major real estate asset classes over the past several decades. Historically, fragmented asset classes such as residential, multi-family, commercial, and industrial properties were dominated by owner-operators, many of whom inherited or directly purchased properties. But as the investment potential of these assets became evident, aggregation began. First, smaller investors entered the space, followed by institutional players including hedge funds, private equity firms, and family offices. These shifts redefined each asset class, unlocking new levels of scale, sophistication, and profitability.
We believe Outdoor Hospitality is on the verge of a similar inflection point. Demand is surging, market fundamentals are strong, and institutional capital is beginning to take notice. However, the sector remains in an early stage—a rare window of opportunity for first-movers to gain meaningful exposure before broader institutional saturation. At KCN, we are capitalizing on this moment by aggressively assembling a world-class portfolio of outdoor hospitality properties that meet our strict investment criteria and offer significant short- and long-term upside.
Recent data supports our thesis. According to KOA’s 2024 North American Camping and Outdoor Hospitality Report, approximately 88 million U.S. households now identify as campers, with 54 million households taking at least one camping trip in 2023. The U.S. campground and RV park sector generated $10.5 billion in revenue in 2023, and broader outdoor recreation spending continues to climb. Glamping, extended stays, and remote work flexibility are reshaping traveler behavior and fueling demand for experiential, nature-focused accommodations.
Institutional awareness is rising. Notably, major firms like Brookfield Asset Management and Sun Communities have entered the space in recent years, acquiring large-scale RV park portfolios and signaling increasing confidence in the asset class. Private equity activity is also increasing, particularly among firms with hospitality or infrastructure expertise.
The COVID-19 pandemic accelerated consumer interest in outdoor travel, but the shift has proven durable well beyond the public health crisis. Demand remains strong as consumers prioritize open spaces, flexible accommodations, and unique experiences. This secular shift continues to drive higher occupancy, longer stays, and revenue growth across outdoor hospitality.
At KCN, we are strategically positioned to lead this new chapter. By combining rigorous underwriting, a proprietary evaluation model, and operational expertise, we are building a portfolio designed for resilience, appreciation, and long-term value creation. The window is open—and we’re all in.