Vacasa makes two major acquisitions in California and Alabama
United States: based in Portland seasonal rental management platform Vacasa made two major acquisitions in California and Alabama.
The company has confirmed the purchase of SeaBreeze Vacation Rentals, a leading management company in Southern California, and Meyer Vacation Rentals and Meyer Services SH companies, on the Gulf Coast of Alabama.
With the SeaBreeze transaction, Vacasa will add more than 400 luxury homes and condos in sought-after beachfront vacation destinations including La Jolla, Del Mar and Malibu, and support continued growth with an investment in local operations. The company will now manage nearly 600 vacation rentals in the region.
Zac Monahan, vice president of business development at Vacasa, said, âSouthern California beaches have mass appeal as top tourist destinations and are profitable locations for second home owners. who wish to invest in vacation rentals. Vacasa has a seasoned team and an established presence in Orange and San Diego counties, already delivering an exceptional level of service, but this investment in premium inventory, operations and infrastructure SeaBreeze will allow us to introduce more owners and guests to the trusted Vacasa experience. . “
Jonah Mechanic and Vanessa Neff started SeaBreeze Vacation Rentals in 2002 with Mechanic’s unique vacation home in San Diego and made it one of the region’s leading vacation rental management companies along the California coast. The company expanded into a multi-city operation when the couple partnered with brothers Brian and Jeff Bosson in early 2015, creating SeaBreeze Vacation Rentals as it is known today.
Vacasa will welcome 130 employees to its operations and management teams under the agreement, and will maintain five SeaBreeze offices and laundries in Southern California. Mechanic, Neff and the Bossons will also stay with Vacasa during the transition.
All SeaBreeze Vacation Rentals will be listed and bookable on Vacasa.com, as well as the SeaBreeze Vacation Rentals website, by this fall.
Mechanic said, âAll of us at SeaBreeze Vacation Rentals are extremely proud of the business we have created and the close relationships we have developed with our owners. Vacasa has given us the opportunity to take the business to the next level, and I trust them to continue and develop our heritage.
âVacasa understands our region and how to market and optimize revenue for this caliber of vacation rental, and our customers can benefit from Vacasa’s advanced technology and revenue management system. I am delighted to see this transition succeed, knowing the opportunities ahead and that our owners, guests and vendors will receive the same level of care and service, âhe added.
Vacasa has also confirmed the purchase of Meyer Vacation Rentals and Meyer Services from SH Enterprises, in order to double its short-term rental footprint along the Alabama Gulf Coast. Following the transaction, Vacasa will assume management of 980 vacation properties, primarily in Gulf Shores and Orange Beach, Alabama, and Perdido Key, Florida.
Founded in 1967, Meyer Vacation Rentals has grown into one of the largest property management companies on the Alabama-Florida coast. The popularity of the region is supported by Vacasa 2021 Vacation Rentals Search and Reservation Report, in which cities on the Gulf Coast have been ranked among the top four most searched destinations on Vacasa.com over the past 12 months.
Vacasa Senior Vice President of Operations Bob Milne said, âCustomer demand for vacations on the Alabama Gulf Coast and the Florida Panhandle is booming, so we’re excited to expand our portfolio and operations in the region, and help more owners capitalize on the opportunities ahead. . Our teams, along with our cutting edge technology and marketing, have proven that Vacasa can optimize vacation rental owners’ income.
To support the expansion of the portfolio and the maintenance of service standards, Vacasa will maintain the Meyer Vacation Rentals Gulf Shores office and the Meyer Services office in Foley, Alabama, in addition to welcoming more than 200 employees to its field team and management.
Michelle Hodges, owner of Meyer Vacation Rentals, said, âMeyer has been a local business serving customers for generations. When we discussed the future of the business and how best to take care of owners while opening up new opportunities for employees, this sale was the best way forward for everyone.
âBy moving to Meyer Vacation Rentals by Vacasa, we have a proven growth partner who can improve owner ROI and create upward mobility for our incredibly talented team,â she added.
Meyer Vacation Rentals homes are expected to be fully integrated and bookable on the Vacasa website by October.
Vacasa to go public via merger with ad hoc acquisition company [SPAC] TPG Pace Solutions before the end of the year, for a valuation of approximately $ 4.5 billion.
It follows the company’s significant acquisitions of Wyndham Vacation Rentals for $ 162 million in October 2019 and TurnKey Vacation Rentals’ portfolio of 6,000 high-end homes in April, which brought Vacasa’s inventory to over 30 000 homes in North America, Belize and Costa Rica.