Under Canvas lands $145M refinancing as glamping race heats up
What's the deal? Luxury camping operator Under CanvasDealroom has a profile for this one. Try Dealroom → has secured a $145 million refinancing loan package from Derby Lane Partners LPDealroom has a profile for this one. Try Dealroom →, according to a company statement. The debt deal was announced on October 19, 2026.
What does the company do? Founded in 2009, Under Canvas runs 17 resorts across 11 US states, where guests sleep in upscale, safari-inspired tents. Most sites sit near major national parks, including Yellowstone, Grand Canyon, and the Great Smoky Mountains.
Why it stands out: At $145 million, the package ranks in roughly the top 40% of comparable deals by size — a sizeable commitment that signals continued lender appetite for outdoor hospitality. The financing is not a new equity round or a change in ownership.
What's the endgame? The deal could support capital-intensive expansion. Under Canvas recently opened sites near Yosemite and in New Hampshire's White Mountains, and plans a Santa Fe property for 2027. Its growth also includes cabins, acquired independent camps, and partnerships with Hyatt and Small Luxury Hotels.
The signal: Major hotel groups are chasing the same guests. Hilton has partnered with AutoCamp, while MarriottDealroom has a profile for this one. Try Dealroom → built an outdoor offering around Postcard Cabins and Trailborn. The refinancing suggests capital is still flowing to a segment that big operators now see as a durable growth market.
Read more: Bloomberg
Image credit: lawdawg1
