The Asset Class No One Is Talking About… But Should Be: RV & Hot-Spring Resorts

[Zander Kempf]

Most investors keep chasing the same crowded plays like multifamily and storage. Meanwhile I stumbled into a niche that has completely changed how I look at real estate. Value add RV resorts.

Here’s why I’m so bullish on them and why I think more people should at least have them on their radar:

1. Outdoor travel isn’t a trend. It’s a genuine lifestyle shift.
People want nature fresh air and experiences that feel grounding. Millennials and Gen Z are choosing road trips and outdoor stays more than ever. Occupancy numbers just keep climbing.

2. Institutions aren’t here yet.
These properties are big enough to operate like commercial assets but still too small for the big funds to care about. That leaves real opportunity for normal investors to buy quality assets without getting crushed by competition.

3. The value is created by making the experience better.
Most parks were built decades ago and barely improved since. When you add saunas cold plunges glamping units coworking and clean modern facilities guests happily pay higher nightly rates. You’re not hoping the market saves you. You’re forcing the upside.

4. Cash flow is diverse and steady.
Nightly RV stays long term pads cabins glamping units amenity passes and events create multiple income streams inside one property. If one softens another usually grows.

5. The tax benefits are some of the best I’ve seen in real estate.
RV resorts have a huge amount of depreciable assets which makes cost seg and bonus depreciation incredibly powerful.

6. Guests actually build a relationship with the property.
This surprised me the most. Once people have a great outdoor experience they come back every year. It creates long term loyalty that feels more like a community than a transaction.

For me RV resorts sit right at the intersection of outdoor wellness adventure and long term real estate wealth. And the fundamentals keep getting stronger.