AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Vacasa Grows Investment in Colorado Through Acquisition of Resort Lodging Company

December 17, 2019 GMT

PORTLAND, Ore.--(BUSINESS WIRE)--Dec 17, 2019--

Vacasa, North America’s largest vacation rental management platform, has signed an agreement to acquire Resort Lodging Company. The deal will be finalized before the end of December, and the integration will be complete in the spring of 2020. At this time, Vacasa will assume management of Resort Lodging Company’s vacation rental inventory in Steamboat Springs, Colorado, estimated to be 250 properties at the time of closing. With this acquisition, Vacasa will also bring on 11 homeowners associations (HOAs).

Resort Lodging Company was founded in late 2015, with a focus on local care and growing Steamboat Springs’ reputation as an idyllic year-round getaway. Resort Lodging Company employees, estimated to be 155, are expected to continue employment following the ownership transition, including the leadership team comprised of president, Blair McNamara; vice president, Patrick Delaney; and, director of operations, Josh Miller. Vacasa will retain the Resort Lodging Company central office located at 1855 Ski Time Square Drive, and all operations will continue as usual.

“For the past four and a half years, our team has taken tremendous pride building Resort Lodging Company into a leader in Steamboat property and community management, and we look forward to the next phase of our journey with Vacasa,” said Blair McNamara, president of Resort Lodging Company. “We have always believed in the importance of community and localized care, and I feel confident that Vacasa will strengthen the values our team upholds, while creating new opportunities rooted in next-generation technology.”

Homeowners whose vacation rentals were managed by Resort Lodging Company will now benefit from Vacasa’s industry-leading dynamic pricing, marketing and booking expertise, and partnerships with top listing sites such as Airbnb, Booking.com and Vrbo that drive year-round bookings and increased revenue.

“We are thrilled to begin caring for Resort Lodging Company’s portfolio of beautiful vacation rentals, providing new options to our guests who love Steamboat Springs as much as we do,” said Bob Milne, chief operations officer of Vacasa. “The talented Resort Lodging Company team will be a great asset to Vacasa, as we build relationships with homeowners and continue to scale in Colorado.”

Vacasa Community Association Management launched its services in Colorado in 2018 and with the addition of Resort Lodging Company’s current associations under management, will manage 62 HOAs across the state from Steamboat Springs to Summit County and the Vail Valley. The Vacasa Community Association Management team led by Milne and Vacasa’s director of community association management, Meghan Lutterman, brings more than five decades of experience to association management, and is uniquely positioned to support vacation rental HOAs with a full suite of services.

“Colorado was one of the first states where we launched Vacasa Community Association Management due to its high number of second home-focused associations within key vacation destinations,” said Lutterman. “We look forward to working with Resort Lodging Company’s tenured employees in providing best-in-class services to our new HOA board partners.”

Vacasa’s recent acquisition of Wyndham Vacation Rentals will add 1,200 Colorado vacation homes to the company’s portfolio once the integration is complete, anticipated in 2020. With the addition of Resort Lodging Company, Vacasa will manage more than 2,500 vacation homes across Colorado.

About Vacasa

Whether travelers are looking to book a weekend getaway or the trip of a lifetime, Vacasa is the trusted partner for all things vacation rental. Vacasa homeowners enjoy industry-leading financial returns on their vacation homes, delivered by the company’s unmatched technology platform that adjusts rates in real time and ensures revenue is always maximized. Guests can relax comfortably in one of Vacasa’s 25,000+ professionally managed homes around the world, knowing that 24/7 local teams are just a phone call away. In the past 10 years, Vacasa and its licensed subsidiaries have grown to become North America’s largest vacation rental management platform and employ more than 5,000 people who are passionate about providing best-in-class service to homeowners, guests, real estate investors and partners. For more information, visit https://www.vacasa.com/press.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191217005296/en/

CONTACT: Anni Murphy

PR Manager, Vacasa

anni.murphy@vacasa.com

KEYWORD: OREGON COLORADO UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE VACATION LODGING CONSTRUCTION & PROPERTY DESTINATIONS TRAVEL

SOURCE: Vacasa

Copyright Business Wire 2019.

PUB: 12/17/2019 11:00 AM/DISC: 12/17/2019 11:00 AM

http://www.businesswire.com/news/home/20191217005296/en