Camping, by 2027 market over one billion

Open-air tourism - which includes campsites, villages and glamping - is booming. In Italy, the total value of the Italian camping market (data 2022) was 900 million. But the segment is estimated to grow to 1.3 billion by 2027 (cagr +5.9%), making Italy Europe's second largest market in this segment.

Clearwater, one of Europe's leading independent corporate finance companies focused on the mid-market, took a snapshot of the market. Driving the sector is a growing demand for sustainable, nature-based experiences; flexible regulations on mobile facilities in several EU countries; and a focus on value for money. But also the transformation of campsites into family resorts, complete with services (kids club, swimming pools, restaurants).

In Europe, the hospitality market is expected to reach EUR 223 billion by 2027, with a cagr of +6.1% (2022-2027). As of 2022, the European camping segment was worth EUR 7.6 billion (4.6% of the market) and will reach EUR 9 billion by 2027. In 2023, Europe will account for 53% of the global camping market.

This is an interesting growth path that has been attracting more and more private equity and infrastructure funds abroad for some time, thanks to cyclical resilience and stable cash flows; scalability through acquisitions; and the real estate potential of facilities, including through sale & lease-back transactions. In France and Southern Europe, large private groups already hold more than half of the market thanks to intensive acquisition activity. The aim is to reach a critical size to improve access to credit and investment capacity and to exploit commercial synergies.

'In contrast to France,' explains Niccolò Querci, managing partner of Clearwater, 'Italy remains a fragmented market, but with increasing attention from private equity funds and international operators, especially in areas with a greater presence of services and infrastructure. Club del Sole is one of the main players, the first to open its capital to institutional investors, and is now backed by The Equity Club and NB Aurora. Cuirca a year ago, Hines entered as the first partner in The Human Company together with Clessidra. A 120 million operation. The Italian players, in any case, operate with very high Ebitda margins (30-40%), thanks to hybrid management models'.