Investor Presentaiton
COMPELLING SUPPLY - DEMAND FUNDAMENTALS
Continued Demand for Affordable Vacationing
Despite Declining RV Sales
Growth in annual RV shipments and historical RV revenue growth
RV
Annual Active Camping Households
(in mms)
8% CAGR
4.8%
0.8%
46.2%
57
58
48
6.6%
4.2% 5.4%
13.2% 4.9%
42
35
37
39
39
32
-32.9%
-30.1%
2008
2009
2010
■RV Shipments (1)
2011
■RV Revenue (2)
2012
2014
2015 2016
2017 2018
2019 2020 2021 2022
■ Installed base: 11.2 million households own an RV
versus 1.7 million RV campsites in the U.S.
■ From 2008-2012, RV revenue for a portfolio of
independent, single park operators grew at a 4.4% (2)
CAGR
■ ~169K new guests visited a Sun RV community in
2022
■ RVs stay in Sun's communities for ~8 years on
average (3)
■ Over 6 million new camping households in 2022 vs.
an average of 2 million per year 2015-2019
■ 64% of campers camped more or replaced other types
of trips with camping in 2022
Sun's RV communities offer affordable vacations
where the average trip is 2-3 hours from a customer's
home address
■ 11% of RV campers rented from a private owner using
a peer-to-peer listing service in 2022
Source: Company information, KOA and RVIA. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2023, as well as Press Releases and SEC Filings after September 30, 2023, for additional information.
Refer to information regarding non-GAAP financial measures in the attached Appendix.
1)
New RV shipments.
SUN
2)
3)
Represents a portfolio of independently owned and operated RV community franchises that the Company did not have an interest in until after the period shown.
Annual Average (January 2021 - September 2023) and excludes transient RV sites.
SUN COMMUNITIES, INC.
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