Lodgyslife AG Pursues Aggressive Expansion in Camping Market

Parmantier & Cie. GmbH has issued a "Buy" recommendation for lodgyslife AG. The company, known for its aggressive roll-up strategy, targets the fragmented camping market in the DACH region. With an institutional financing line of €50 million, lodgyslife aims for rapid inorganic growth. This strategy focuses on untapped potential in marketing and process efficiency of target campsites. Non-professionalised individual campsites are currently valued at 5-7x EBITDA, but large portfolios fetch higher multiples, creating lucrative exit options for the future.

The growth strategy has proven effective. For instance, the EBITDA margin at Campingplatz Jungfrau increased from 9% to 25% over four years. Co-founder and CEO René Müller has successfully replicated this business model three times previously. lodgyslife plans to acquire 5 to 10 campsites annually to capitalise on market opportunities. The German-speaking camping market, with its annual growth rate of about 5%, offers an accommodating environment for such consolidations.