- Acquisition adds +6,000 units to Vacasa’s +30,000 travel-oriented housing options
- TurnKey Vacation Rentalshad units in more than 80 destination
Vacasa Acquires One of its Biggest Competitor
As it has done in the past, Vacasa last week announced that it had acquired one of its major rivals, TurnKey Vacation Rentals. TurnKey brought more than 6,000 travel-oriented units in +80 destinations around the nation to Vacasa’s already thousands of rental options sprinkled across the world.
With rental options in “premier destinations” such as Santa Fe NM, California’s Napa Valley, and Los Angeles, TurnKey’s rental options well complement Vacasa’s some 30,000 rental options in both North and Central America and Mexico.
Synchronistic Management Styles
In the recent announcement, Vacasa stated, “Like Vacasa, TurnKey invests in solutions to simplify the vacation rental ownership process for owners and provides exceptional experiences for guests.” Matt Roberts, Vacasa CEO, said he was looking forward to “welcoming TurnKey employees, homeowners and guests into the Vacasa family upon closing of the transaction.” (The transaction is expected to close in a month.)
Vacasa Now Largest Vacation Rental Management Firm in North America
Founded over a decade ago by Eric Breon who “stepped down” last year, Matt Roberts, formerly CEO of OpenTable, stepped in. Today, Vacasa manages rentals on behalf of owners, entire communities and even provides interior design services.
Roberts follows Breon’s example of acquiring rivals as he did in 2019 with the acquisitions of Wyndham Vacation Rentals and Sterling Resorts. TurnKey is Roberts’ first acquisition effort.
Technology Considered “Important Factor” in Each Company’s Management
John Banczak, CEO of TurnKey, said that technology, going forward as part of Vacasa,“…will continue making …vacation rental homeownership more efficient and more profitable for owners…together, we expect to deliver on our shared vision of developing innovative solutions to meet the evolving needs of our homeowners, and offer a consistent, reliable hospitality experience to our guests.”
Thanks to Inman.
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