Pathfinder Announces 17% YoY Increase in Occupancy in Q3
VANCOUVER, B.C., October 4, 2022 – Pathfinder Ventures Inc. (TSXV: RV) (OTCQB: RVRVF) (the “Company,” “RV” or “Pathfinder.”) is pleased to announce that it successfully closed its second Q3 season with a 71% occupancy from July 1st to September 30th, achieving a 17% increase from the prior year occupancy of 54% across all parks.
The blended Q3 occupancy increase stated above included 36% increase in the Agassiz-Harrison location and 40% increase in the Parksville location, which started operating last year on May 22nd and July 17th, respectively. The Q3 financial results will be released on November 28th.
Ms. Jennifer Lee, CFO of Pathfinder, commented, “In the second quarter of 2022, Pathfinder achieved an 81% increase in revenues despite lower-than-expected April occupancies caused by severe winter conditions. While the Parksville location was not operational until July of last year, the Agassiz location more than tripled the June occupancy from the prior year. Fort Langley also saw a slight growth in occupancy despite being a stable operating asset for many years. Pathfinder Camp Resorts continue to be very busy, and we have been getting inquiries and bookings for the next year already. We are pleased to see a community building in our Pathfinder Camp Resorts.”
Custom programming brings guests back
Pathfinder’s camp resorts continue to receive 5-star reviews, driven by the high quality of service and weekend programs. Pathfinder recognizes the opportunity to diversify its Pathfinder Camp Resorts with engaging, customized, and entertaining weekend programming for children and families.
“Our programs are what really set us apart from other resorts. Kids love our themed events, live music, and arts & crafts, while their parents can enjoy some peace back at their campsite or come join in the fun,” says Stan Duckworth, COO. “These unique experiences keep our guests coming back year after year.” The Company aims to build a strong returning customer base with the memorable brand it has begun to establish.
Future growth opportunities
There is still room to grow the overall occupancies, especially in the shoulder and winter seasons. The Company is already seeing increased bookings in the winter seasonal stays this year. Pathfinder’s Parksville location also announced an addition of a newly renovated suite and is reviewing plans to capitalize on the growing demands for hard roof accommodations on Vancouver Island.
Pathfinder’s Agassiz location successfully opened its heated pool in time for the July long weekend, which led to an increase in bookings and some extended stays. The Company plans to open the pool, weather permitting, 6 weeks earlier in 2023 which will help with occupancy during the shoulder season.
Pathfinder Ventures is committed to growing its portfolio of Pathfinder Camp Resorts and revenues in the RV industry, regardless of the difficult economic conditions.
About Pathfinder Ventures
Pathfinder Ventures Inc. is developing a network of branded, upscale and family-friendly RV parks and campgrounds under the “Pathfinder Camp Resorts” name. Pathfinder currently has three camp resorts located in B.C. and is focused on growing its network through both acquisitions and development. Pathfinder is also seeking to acquire RV & Self Storage facilities to take advantage of the rapidly growing market of people who want to experience the great outdoors in an RV.
On behalf of the board of directors of the Corporation:
Joe Bleackley
Chief Executive Officer, Founder and Director
Pathfinder Ventures Inc.
Company Contact:
Joe Bleackley – Chief Executive Officer, and Director
Phone: (604) 914 2575
Email: ir@PathfinderVentures.ca
Website: PathfinderVentures.ca
Investor Relations Contact:
Anthony Simone
Simone Capital Corp.
Phone: (416)-881-5154
Email: asimone@simonecapital.ca
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