Open Road Resorts (ORR), an outdoor hospitality platform managing RV parks across the United States, has secured a “strategic investment” from L Catterton, THOR Industries, Long Light Capital, and Chesapeake Partners.
The partnership aims to enhance ORR’s ability to expand its portfolio of RV parks and campgrounds nationwide. Established in 2019 by Chase Becker and Jim Omstrom, ORR provides “clean, safe, highly amenitized, family-friendly” parks for campers seeking outdoor experiences.
The investment consortium combines experience in the outdoor, hospitality, and adventure sectors. L Catterton, a global consumer-focused investment firm, leads the group, which includes THOR Industries, a manufacturer of recreational vehicles.
Currently, ORR operates five parks in Idaho, Montana, Nebraska, and Texas, offering family-friendly amenities to enhance the outdoor experience.
Chase Becker, co-founder of Open Road Resorts, expressed excitement about the new partnership, stating that the combined expertise of the investors would enable the company to scale its operations and expand its presence across the country. “With partners such as L Catterton and THOR, we believe we will be able to meaningfully scale our operations and geographic presence,” Becker said.
Jim Omstrom, a fellow co-founder of ORR, echoed this sentiment, noting that their vision for ORR involves building a collection of RV parks offering consistent, “high-quality guest experiences.” “We believe this investment will help us achieve that goal,” Omstrom added, pointing to the company’s commitment to creating “desirable camping destinations” for families and outdoor enthusiasts.
According to a press release, the investment will support ORR’s strategy to expand its portfolio and enhance the guest experience at existing parks. Improvements in amenities and infrastructure, combined with increased investment in marketing and brand-building, are expected to strengthen ORR’s presence.
THOR Industries, a partner in the investment consortium, emphasized the strategic value of the partnership. Todd Woelfer, senior vice president and chief operating officer of THOR, highlighted the potential to offer superior experiences to their customers through the ORR platform. “Partnering with ORR allows us to accomplish this goal by ensuring their access to the next great brand in outdoor hospitality,” Woelfer said.
Matt Nugent, a partner in L Catterton’s Growth Fund, also commented on the investment, expressing confidence in ORR’s ability to capitalize on the popularity of the RV market and outdoor recreation.
“We are huge believers in the long-term growth of the RV market and in outdoor participation more generally,” Nugent said.