Camping World

What Camping World does

Camping World Holdings, Inc. (NYSE: CWH) is the world's largest retailer of recreational vehicles and related products and services, operating a national network of 199 dealerships and service centers across 44 U.S. states as of Q1 2026 (down from 209 in Q1 2025 following a 10-store consolidation). Founded in 1966 and headquartered in Lincolnshire, Illinois, the company sells new and used RVs — motorhomes, travel trailers, and fifth wheels — alongside RV parts and accessories, maintenance and repair services, and finance and insurance (F&I) products distributed through its own retail locations and an extensive e-commerce platform (CampingWorld.com).

Revenue is generated across six streams: new vehicle sales, used vehicle sales (which grew 24.6% in unit terms in 2025), products/service/other (parts, accessories, collision work), F&I (100% gross margin), Good Sam Services and Plans (roadside assistance, protection plans, insurance), and Good Sam Club membership subscriptions. The Good Sam ecosystem — including 1.65 million paid club members, Good Sam Financial Services, and a December 2025 expanded partnership with Octane — provides recurring revenue and customer-relationship depth that extends beyond the cyclical vehicle-purchase transaction. Exclusive manufacturer partnerships with Forest River (Airelume trailer series), Thor Motor Coach (Eddie Bauer EB26 motorhome), and Keystone RV supply dealer-only SKUs that differentiate the offering from independent RV dealers.

Following FY2025 revenue of $6.4 billion (up 4.4% YoY) and Adjusted EBITDA of $242.9 million (up 35.8% YoY), the company is navigating an industry-wide RV demand softening that produced a $105.6 million FY2025 net loss, a $1.47 billion long-term debt load (5.7x net leverage), and securities fraud class action litigation alleging misstatements about inventory and demand. In January 2026 founder Marcus Lemonis retired and Matthew Wagner (a 19-year company veteran) became CEO; the Board paused the dividend in February 2026 to accelerate debt reduction, and the company has guided FY2026 Adjusted EBITDA to $275-$325 million.

Name

Camping World

Legal name

Camping World Holdings, Inc.

Website

https://investor.campingworld.com

Company type

Public

Founded year

1966

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Camping World Holdings (NYSE: CWH) is the world's largest RV retailer, operating 199 dealerships and service centers across 44 U.S. states and selling new and used RVs, parts, service, financing, and Good Sam membership products to approximately 4 million active RV consumers.

Ownership category

akta.pro rank

Product category

RV Retail and Dealership Services

NAICS

Recreational Vehicle Dealers (44121), Recreational Vehicle Dealers (441210), Recreational Goods Rental (532284)

SIC

Services-Automotive Repair, Services & Parking (7500), Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

Recreational Vehicle (RV) Finance (FSAKADAF)

akta.pro secondary industries

Tents, Shelters & Sleep Systems Retail (CRAMAMAH), Camping Furniture & Camp Kitchen Retail (CRAMAMAC)

Keywords

• RV retail and dealership
• Recreational vehicle sales
• RV parts and service
• Good Sam membership
• RV financing and insurance

Headquarters

HQ city

Bowling Green

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. New Vehicle Sales: Revenue from selling new recreational vehicles including motorhomes, travel trailers, and fifth wheels through dealership network.
2. Used Vehicle Sales: Revenue from selling pre-owned recreational vehicles, which has shown strong growth with unit sales increasing 24.6% in 2025.
3. Products, Service and Other: Revenue from RV parts, accessories, maintenance, repair and collision services through service bays.
4. Finance and Insurance (F&I): Revenue from financing arrangements and insurance products offered to customers purchasing vehicles, generating 100% gross margin.
5. Good Sam Services and Plans: Revenue from Good Sam membership programs including roadside assistance, protection plans and insurance products. The Good Sam organization provides specialized services for the RV enthusiast community.
6. Good Sam Club: Revenue from Good Sam Club membership fees, a loyalty program serving RV enthusiasts with various benefits and discounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Camping World is the world's largest retailer of recreational vehicles, selling new and used motorhomes, travel trailers, and fifth wheels through a national network of 199 dealerships across 44 U.S. states. The company complements vehicle sales with RV parts and accessories retail, maintenance and repair services, and financing and insurance products. The Good Sam ecosystem provides recurring-revenue membership programs, roadside assistance, extended protection plans, and financial services to RV enthusiasts.

Product overview

Camping World operates as a multi-brand retail and service platform for the RV lifestyle, combining a national dealership network with subscription-based membership services. The core retail business encompasses new and used RV sales, parts and accessories retail, and maintenance/repair services across 199 locations in 44 states. Supporting the retail operations, the Good Sam ecosystem provides recurring revenue through membership subscriptions (Good Sam Club with 1.6M+ members), roadside assistance programs, protection plans, and financial services. Exclusive branded products include the Airelume travel trailer series and Eddie Bauer motorhome line, distributed exclusively through Camping World in manufacturer partnerships.

Differentiator

Problem solved

Functional benefit

Products and services

• New and Used RV Sales Sales of new and pre-owned recreational vehicles including motorhomes, travel trailers, and fifth wheels through Camping World's national network of 199 dealerships across 44 U.S. states. Targeted at individual RV enthusiast consumers and households.
• RV Parts and Accessories Retail Retail sale of parts, accessories, and supplies for recreational vehicles available through Camping World physical store locations and the CampingWorld.com online shop. Targeted at RV owners seeking replacement parts and accessories.
• RV Maintenance and Repair Service Service and repair facilities offering RV installation, collision work, customer pay services, and warranty repairs at Camping World dealership service bays across 44 states. Targeted at RV owners needing maintenance or repair work.
• Good Sam Club Membership Recurring membership program for RV enthusiasts providing access to discounts, member benefits, roadside assistance, and community resources, with 1.65 million members as of Q1 2026. Targeted at RV owners seeking ongoing support and community engagement.
• Good Sam Services and Plans Specialized services including roadside assistance, extended protection plans, and related RV-ownership support products offered under the Good Sam brand. Targeted at RV owners requiring post-purchase support and continuity of coverage.
• Good Sam Financial Services Financial services offerings for RV customers including RV financing arrangements, insurance products, and F&I products generating 100% gross margin, delivered in partnership with Good Sam Financial Services and Octane. Targeted at RV purchasers needing financing and insurance solutions.
• Airelume Travel Trailer Series (Forest River exclusive) Exclusive Forest River Airelume travel trailer product line distributed solely through Camping World, including the Airelume 172 (entry-level couples model), Airelume 255 (mid-size twin-axle), and Airelume 285 (mid-entry family floorplan). Targeted at RV buyers seeking exclusive, Camping World-only inventory across multiple floorplan configurations.
• 2027 Eddie Bauer EB26 Motorhome (Thor Motor Coach exclusive) Exclusive Thor Motor Coach Eddie Bauer EB26 compact Class A motorhome sold exclusively through Camping World, featuring Ford E-Series chassis with 7.3L V8 engine, part of the Eddie Bauer exclusive series. Targeted at RV buyers seeking a compact premium Class A motorhome only available through Camping World.
• 2027 Keystone Montana High Country 391TB Fifth Wheel 2027 Keystone Montana High Country 391TB fifth-wheel travel trailer measuring 42 ft 11 inches with total weight capacity of 18,000 lbs, distributed through Camping World as a key dealer partner. Targeted at buyers of premium fifth-wheel RVs.

Quantifiable outcome

• 13% market share in combined new and used RV market
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered minor and core.

• Keystone RVminorStrategic or Co-development Partner · 1 May 2026Camping World was invited to preview the 2027 Montana High Country 391TB fifth-wheel trailer ahead of its official release. The company serves as a key dealer partner for Keystone products.
• Fox NewsminorGTM or Marketing Partner · 1 April 2026Partnership with Fox News 'FOX & Friends' show for the 'For All America' cross-country road trip celebration. Camping World Freedom Traveler RV offered as sweepstakes prize.
• Forest RivercoreStrategic or Co-development Partner · 1 January 2026Exclusive partnership with Forest River to launch the Airelume travel trailer series comprising 13 floorplans. The Airelume 255 is a mid-size twin-axle model featuring the Luma Lounge hybrid dinette/lounge space. Camping World serves as the exclusive dealer for this product line.
• Thor Motor CoachcoreStrategic or Co-development Partner · 1 January 2026Exclusive dealer partnership for the Eddie Bauer EB26 compact Class A motorhome, a second-generation model featuring Ford E-Series chassis with 7.3L V8 engine. Sold exclusively through Camping World as part of the Eddie Bauer exclusive series.
• NASCARcoreGTM or Marketing Partner · 1 January 2026Camping World is a corporate partner of NASCAR, sponsoring the Anduril 250 street race at Naval Base Coronado in San Diego. Camping World branding covers the track, cars, and Prime Video telecast as one of 35 corporate partners.
• CostcocoreStrategic or Co-development Partner · 1 January 2026Exclusive partnership with Costco mentioned as a positive catalyst for Camping World. The partnership drives sales through Costco's会员 base.
• Octane (Good Sam Financial Services)coreStrategic or Co-development Partner · 1 December 2025Good Sam and Good Sam Financial Services announced expanded partnership with Octane to provide enhanced financial services offerings to RV customers.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• General RV Center: One of the largest family-owned RV dealership networks in the U.S., operating superstores across multiple states. Competes directly with Camping World on new and used RV sales, parts/service, and F&I in overlapping geographies.
• Lazydays Holdings: Previously operated a national chain of RV dealerships directly competing with Camping World. Despite financial restructuring, it remains the most direct historical comparable on multi-state dealership scale, F&I revenue, and service operations.

Broad incumbents

• Winnebago Industries: Major U.S. RV manufacturer (Winnebago, Grand Design, Newmar brands) supplying vehicles to Camping World's dealerships. Competes indirectly through its branded dealer programs and Towables business, plus adjacent marine and specialty vehicles.
• Thor Industries: World's largest RV manufacturer (Thor Motor Coach, Airstream, Keystone, Jayco). Functions as both supplier (Thor Motor Coach Eddie Bauer exclusive series) and indirect competitor through its network of competing dealers.
• Forest River: Major U.S. RV manufacturer producing travel trailers, motorhomes, and fifth-wheels. Camping World's exclusive Airelume travel trailer series partner; competes indirectly via other dealer relationships and brand presence.
• REV Group: Manufacturer of specialty vehicles including Class A, B, and C motorhomes (e.g., American Coach, Fleetwood, Holiday Rambler) sold partly through Camping World. Competes indirectly via dealer-network dynamics and luxury motorhome positioning.

Others

• Blue Ox Towing & RV Accessories: Leading manufacturer of towing products, weight distribution hitches, and tow bars sold through Camping World's parts/accessories business. Adjacent ecosystem participant tied to RV lifestyle customers.
• Progressive (RV Insurance): Major provider of RV-specific insurance products that competes with Good Sam Financial Services and Good Sam Insurance Agency for the same RV owner's wallet share on insurance and protection plans.

Emerging players

• Cruise America: Largest RV rental operator in North America, providing motorhome rentals for leisure travel. Partially overlaps Camping World's rental program and caters to consumers considering RV ownership, making it adjacent competitive ground.
• Outdoorsy: Peer-to-peer RV rental marketplace connecting RV owners with renters. Provides alternatives to traditional ownership and competes for the same RV-lifestyle demographic that Camping World's customer base targets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/campingworld
• Facebookfacebook.com/campingworld

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries4 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A21 records

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Camping World