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A Convertible Note is debt that converts to equity. If you invest, you're betting Posh Outdoors, Inc. will be worth more than $12M in the future.
A portmanteau of “glamorous” and “camping”, the term only entered the Oxford English Dictionary in 2016, yet the sector has seen meteoric growth in recent years. After a huge boom during the COVID-19 pandemic, growth has continued to be impressive post-pandemic, with a 68% increase in households going glamping between 2021 and 2023 (KOA, 2024).
Much of this growth has been driven by millennials. Glamping speaks to their desire for experiential travel, offering a chance to reconnect with nature in an upscale way. It is also a highly “Instagrammable” stay, with direct bookings through social media made achievable thanks to beautiful scenery and unique accommodations.
As the popularity of glamping has grown among consumers, so too have the levels of innovation employed by operators. The breadth of unique structures available to book has increased significantly, with the term now incorporating overnight stays in safari tents, geodesic domes, mirror cabins, treehouses and more.
The high daily rates enjoyed by operators, ranging from $400-$1,000+, makes a luxury glamping operation an attractive business model. Bountiful exit opportunities have already been shown, with Under Canvas being acquired for $100+ million with just 8 seasonal locations in 2018 (Mixergy, 2012). Posh Outdoors board member Ben Wolff’s 11-unit operation in Fredericksburg was also acquired at a $7 million valuation in 2022, after just 14 months of operations (Business Wire, 2022).
The luxury glamping market in the USA and Canada has a Total Addressable Market (TAM) of $12.6 billion*, but with only 2,118 units in operation**, there is a staggering 111,066-unit shortage. At the current development rate, supply doesn't catch up to TAM in our lifetime due to the long lead time for traditional ground-up development including land acquisition, site planning, zoning, permitting, and financing barriers in addition to the occasional fierce local opposition.
Posh Outdoors supplies owners of iconic properties with high-end glamping accommodations and backend support, at no up-front cost to the landowner, through an attractive revenue share model. Targeting existing tourism businesses, Posh enables operators to add unique lodging experiences with minimal capex. This enables Posh to avoid many of the lengthy and expensive pitfalls associated with ground up developments.
Posh Outdoors has developed a highly scalable platform comprised of: (1) the supply and installation of turn-key, unique, all-season modular glamping units with award winning eco-friendly designs, (2) a menu of tech-centric, labor-light hospitality and revenue management services, (3) an innovative revenue share program to partner with outdoor tourism businesses such as wineries, ski resorts, ranches, and existing glamping operators.
The Posh revenue share program provides partners with turn-key luxury glamping units and services with minimal up-front cost to the partners, enabling them to add unique experiential lodging to existing tourism operations. The Posh program generates more demand for a partner’s existing tourism operations, and existing tourism customers represent built-in demand for the new Posh Outdoors lodging.
Investors in the current Posh Regulation CF offering of convertible debt expect to benefit from the company's scalability and a projected average unlevered yield on cost (UYOC) of approximately 30%, significantly higher than the typical 7-12% range for hotels and apartments. With the first location secured and a large pipeline of other North American locations, Posh Outdoors is poised to rapidly scale its number of keys while avoiding the costs and risks associated with traditional ground-up developments.
Posh Outdoors has developed a scalable, boutique luxury glamping platform that fills a gap between ultra-luxury glamping resorts ($2,000+ per night) and larger mid-range luxury operators like Autocamp and Under Canvas ($300-$600 per night).
This is what boutique luxury glamping entrepreneur-operators, such as Posh Outdoors’ board member Ben Wolff’s Onera, have done with huge success, but nobody is yet doing it at scale due to the aforementioned barriers. The Posh Outdoors solution breaks down those barriers.
In the rapidly evolving glamping industry, Posh Outdoors is positioned as a partner for operators of existing high-end tourism businesses with a need to add unique accommodations to their locations. Traditional ground up glamping developments struggle with multi-year site design, planning, zoning, & permitting efforts in the face of local opposition, plus costly infrastructure and common area investment.
The Posh model mitigates these risks and accelerates time to market during this critical 3 to 5 year period for operators to build market share and brand recognition.
Video: Connor Schwab, Vice President of Outdoor Hospitality at Sage Outdoor Advisory, explaining why he invested in Posh
Revenue Share Partnerships with Existing Tourism Businesses Solve Key Supply-Side Issues
Robust Partner Pipeline
Posh Outdoors has no shortage of landowner partners seeking to join the platform. Posh has access to a consistent stream of leads from landowners interested in adding luxury glamping to their properties thanks to:
See "Future Projects" section for more details.
Strong Glamping Unit Supply Chain
Rapid deployment of luxury glamping units requires a reliable supply chain of multiple manufacturers with a proven ability to deliver at scale. Founder Edward Haynes' EJH Distribution currently has agreements with 4 manufacturers along with expertise in unit delivery and installation.
By leveraging these advantages, Posh Outdoors can establish a dominant position in the luxury glamping market, by rapidly deploying glamping units while our competitors entangle themselves with lengthy and expensive land acquisition, site planning, zoning, permitting, and construction of infrastructure and common area amenities already in place on Posh targeted sites.
Posh Outdoors' unique approach to glamping development and operations results in attractive unit economics for both the company and its partners.
This is made possible by Posh's unique blend of:
Projected Average Operating Metrics
When evaluating potential partnerships, Posh Outdoors seeks locations that offer:
Posh Outdoors has secured an agreement for its first revenue share project. Skyridge Glamping is slated to open up to 10 Posh Outdoors units on an iconic 6.7 acres of Canadian Rockies Crown Land. The opportunity is tied to a 20yr lease with a 30% revenue share. The first 5 Posh units are scheduled for delivery and installation during Q4 of 2024.
All units will have ensuite luxury baths & kitchenettes, decks & iconic views. The property and surrounding area offers awe-inspiring views of rugged peaks, glacial waters, and abundant wildlife. The property is a short drive from Calgary and its international airport and is the perfect “base camp” to explore the areas world class hiking, water sports, golf courses, skiing, mountain biking, fishing, and everything in-between – including Banff National Park, recognized as one of the top parks and beautiful areas in the world.
Learn more at: Skyridge Glamping website
Key Details
Financials (assuming 10 units)
Timeline
As mentioned in the competitive advantages section, Posh Outdoors has no shortage of landowner partners seeking to join the platform. Founder Nick Purslow’s Glampitect North America, Founder Edward Haynes’ EJH Distribution, and an investor list that includes principals of Sage Outdoor Advisory, generate a consistent stream of leads from landowners and business owners interested in adding luxury glamping to their properties.
While signing additional agreements is dependent on Posh Outdoors securing access to adequate capital, discussions for future sites is active and ongoing. Posh will prioritize iconic sites with qualified local operators and permits in hand. Example of sites in active discussions include:
Through its partnership with EJH Distribution, Posh Outdoors has access to a variety of year-round, luxury glamping structures from several reputable manufacturers. This diversity of units will be key to tailoring the Posh Outdoors experience to different regions and climates.
Available units include:
With compelling unit economics and a clear path to scale, Posh Outdoors presents an attractive investment opportunity.
As the portfolio grows, Posh Outdoors will be well-positioned to generate shareholder liquidity through a sale or recapitalization with institutional investors seeking exposure to this rapidly growing segment of the hospitality industry. The Company will also evaluate the potential conversion to a private REIT.
Hundreds of millions of dollars of institutional capital is flowing into the nascent glamping asset class.
Developed by Posh Outdoors Board Member Ben Wolff, Onera Fredericksbury, a luxury glamping retreat in the Texas hill country, exemplifies the success of Posh Outdoors' innovative approach to outdoor hospitality. Onera Fredericksburg features 12 thoughtfully designed glamping units that blend style, comfort, and natural immersion. By implementing a pioneering social revenue management system, Onera achieved remarkable performance metrics that resulted in a $7 million exit to Summit Hotels after just 14 months of operations.
Through its innovative revenue share model, Posh Outdoors exploits the huge supply gap in the booming glamping market. With a stunning first location and a robust pipeline of future landowner partners, Posh is in the ideal position to implement the high-ROI model of boutique luxury glamping at scale.
With the founding team combining industry expertise and proven entrepreneurial track records, Posh Outdoors is primed to take advantage of the incredible opportunities ahead.
Got questions? Email [email protected]
Experiential tourism is surging with 66% of travelers also prioritizing eco-friendly lodging. Yet few immersive eco-friendly lodging retreats exist – amounting to a massive 100,000 unit shortage in North America. Posh Outdoors unique business model enables rapid scaling of eco friendly luxury glamping units.
The build up to this critical moment in this category can be tracked over the last 5-10 years.
2014 | New Era: Airbnb Reaches Mass Market
2017 - 2020 | Birth & Rise of Unique Stay
2021 | Airbnb Takes Notice
2021 -2024 | Unique Hospitality Gathers Momentum
2024 - 2030 | New Concepts Needed to Meet Demand
With an estimated shortage of 100,000 units in the luxury glamping category, there is a desperate need for new means & methods of creating these properties that avoids zoning & financing pitfalls.
