Polaris Inc. (NYSE: PII) shares poked ahead Tuesday, on news its Polaris Adventures arm reached a milestone of one million customer rides as it brings the adventure offered by powersports vehicles to an ever-growing audience. Due to its ongoing and the growing popularity of adventure tourism, Polaris Adventures recently opened an Outfitter location in Mexico and is expanding to New Zealand later this month.
In October, Polaris Adventures added its first international location with an off-road Outfitter in Todos Santos, Mexico, on Mexico’s Baja California Peninsula. This month, Polaris Adventures will expand to Wanaka, New Zealand with the opening of an Indian Motorcycle Rentals location. Situated at the southern end of Lake Wanaka, Wanaka is a resort town in the Otago region of the South Island, an area known for breathtaking roads that run from coastline through mountain passes.
“Adventure tourism is one of the fastest-growing segments within the tourism industry, people want experiences, they want to be active and see the outdoors,” according to its senior vice-president Vic Koelsch. “We see current riders, as well as people who have never tried powersports riding with us. It comes down to being able to explore the outdoors in a whole new way. This broad appeal has led to our growth as well as fuels our continued momentum.”
Since its launch in 2017, Polaris Adventures has been growing its U.S. presence and today has nearly 200 Outfitters operating across 39 states, including Hawaii and Alaska. These small business owners share their knowledge of must-see nearby attractions, hidden gems, and the most scenic routes – all things that help customers enjoy safe, memorable adventures. Every year, Polaris equips Outfitters with a new fleet and each vehicle is equipped for customer safety and comfort and comes with integrated navigation capabilities.
PII shares cleared breakeven by four cents to $111.50.