Milestone reflects momentum driven by consumer demand, as Outdoorsy Group advances its bold vision.
The Outdoorsy Group, a travel and hospitality company that operates a consumer marketplace for recreational vehicles, insurance, and real estate has reached a major milestone surpassing $3 billion in all time transactions.
https://mma.prnewswire.com/media/2511114/The_Outdoorsy_Group.jpg
“The Outdoorsy Group has leveraged its strategic advantages to thrive even amidst the economic challenges that have impacted consumers and leisure travel over the past 12 months,” said Jeff Cavins, The Outdoorsy Group Founder and CEO. “Reaching $3 billion in transactions is just the beginning. Our team remains focused on executing our bold vision and is eager to share exciting updates on our upcoming geographic expansion.”
Scaling growth internationallyAlready operating in 11 countries and 4,800 cities, The Outdoorsy Group’s $3 billion in sales achievement underlines the company’s rapid growth, which is set to be accelerated by notable product innovations across its global insurance platform. With this growth, the company is projecting it will reach $8 billion in transactions by 2029.
“While the outdoor recreation industry represents a $1.1 trillion total addressable market,and contributes 2.2% to the U.S. GDP, many still lack access to our greatest resources, like National and State Parks. Technology is the key to unlocking these experiences. We’re transforming outdoor travel by using technology to make it more convenient and accessible,” said Cavins. “Outdoorsy.com offers the ease of booking trips online, allowing travelers to plan their adventures from anywhere, while Roamly provides a fully digital experience for binding insurance policies—a major leap forward in an industry still dominated by traditional methods. Together, we are streamlining both travel and protection, making outdoor experiences safer and more convenient. Our focus remains on making strategic investments to increase access and deliver exceptional returns for the long term.”
In addition to strengthening its core business, Cavins highlighted the company’s growth initiatives: “We are expanding our insurance partnerships to increase risk capacity while implementing go-to-market strategies to reach customers in new geographies. With Roamly expanding its insurance partnerships and go-to-market strategies globally, we’re on track to generate $665 million in premiums over the next five years.”
Empowering partners through value creation”Surpassing the $3 billion milestone is not just a financial achievement for the Outdoorsy Group—it represents a profound contribution to the livelihoods of our marketplace hosts and campgrounds operating their businesses on the Outdoorsy.com marketplace,” said Cavins. “A significant portion of these transactions has flowed directly to the country’s GDP and household incomes of hardworking Americans, offsetting the impact of inflation and providing much needed reward for their entrepreneurship. We have also achieved this by helping American families enjoy more than 7m nights outdoors.”
A network effected ecosystem”Since reaching $2 billion in transactions in 2022 and achieving profitability in 2023, The Outdoorsy Group has been laser-focused on scaling our operations and unifying the vision across our three core businesses,” said Cavins. “Roamly, our digital insurance company; Outdoorsy.com, the leading RV rental marketplace; and the Outdoorsy Destination Network, our hospitality real estate division, to deliver innovative products and services designed to serve the 92 million outdoor-loving American households.”
Outdoorsy’s marketplace and insurance offerings work together, creating a network where more participation strengthens the platform for both hosts and travelers. As the largest outdoor travel ecosystem, they attract more users and providers, boosting the quality of offerings. The network effects set the stage for The Outdoorsy Group’s continued success across the following strategic growth pillars:
— Roamly will expand its online insurance and travel protection products across North America and Europe through new insurance partnerships, while Roamly RAC™ will power insurance markets globally in 2025 and bringinnovation and coverage solutions to travelers worldwide.
— Outdoorsy.com will continue to dominate the RV rental market by boosting supply quality to exceed customer expectations. The marketplace enabled by Wheelbase, its SaaS fleet management software, is considered the benchmark software platform and used by 95% of U.S. pro hosts and by many of Europe’s professional caravan fleet operators.
— Outdoorsy’s Destination Network will continue to invest in iconic outdoor destinationsand premier properties, including RV Parks and glamping retreats, located in some of the most breathtaking outdoor locations. The network is designed to elevate the outdoor travel experience by providing easy access to unique and scenic destinations.
Ensuring simple, safe outdoor travel”Young Americans are increasingly drawn to the outdoors because they crave authentic experiences that connect them with nature and offer an escape from the digital world. According to a 2023 Outdoor Industry Association report, 72% of millennials and Gen Z say they value outdoor activities as a way to reduce stress and improve mental health. This growing demand for meaningful outdoor experiences is why Outdoorsy is positioned to be a high-growth company. By offering a seamless, all-in-one platform for booking RVs and campsites, we’re tapping into this powerful cultural shift and providing the next generation of adventurers with the tools they need to explore the outdoors in new and exciting ways,” — says Jennifer Young, Co-founder and Chief Marketing Officer, The Outdoorsy Group.
The Outdoorsy Group is transforming how people experience travel in the outdoors by offering unparalleled safety, security, and memorable destinations for families.
For more information on the Outdoorsy Group, visit https://core-experience-web-plg-8.preview.outdoorsy.com/about/outdoorsy-group
About The Outdoorsy GroupFounded in 2015, the Outdoorsy Group has pioneered access to the outdoors by creating the world’s leading outdoor travel ecosystem. Millions of guests trust Outdoorsy to help them create lifelong family memories and partners rely on their products and innovations to grow their businesses and provide life changing sources of revenue. Outdoorsy’s lines of business include Outdoorsy.com, the largest outdoor travel and hospitality marketplace; the Outdoorsy Destination Network, a portfolio of campgrounds and glamping retreats in the backyard of our nation’s most beautiful landscapes; Roamly, its proprietary insurtech that underpins Outdoorsy.com and serves as a transformative insurance platform to power global marketplaces. Outdoorsy’s businesses are united by a long-term mission to restore our relationship with the outdoors, and each other.
Media Contact: Lydia Davey, lydia.davey@outdoorsy.co
https://c212.net/c/img/favicon.png?sn=DA11854&sd=2024-09-24
View original content to download multimedia:https://www.prnewswire.com/news-releases/the-outdoorsy-group-exceeds-3-billion-in-sales-plans-european-expansion-302255696.html
SOURCE Outdoorsy
https://rt.newswire.ca/rt.gif?NewsItemId=DA11854&Transmission_Id=202409240600PR_NEWS_USPR_____DA11854&DateId=20240924
COMTEX_458106752/1005/2024-09-24T06:00:34