–Vacasa Grows Investment in Colorado Through Acquisition of Resort Lodging Company
–Company Will Add 250+ Steamboat Springs Vacation Homes to its Portfolio
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.
View source version on: https://www.businesswire.com/news/home/20191217005296/en
