StayTerra invests in Florida-based Cape & Coast

US: Vacation rental management platform StayTerra has invested in luxury vacation rental company Cape & Coast Premier Properties, a luxury vacation rental management company based in Cape San Blas, Florida, as it continues to expand its footprint in the US vacation rental market.

The investment strengthens StayTerra’s presence in Florida, with Cape & Coast operating across the state’s “Forgotten Coast”, including St George Island and Mexico Beach. Financial terms of the deal were not disclosed.

StayTerra said the partnership would provide Cape & Coast with access to additional growth capital, technology resources and operational support, while allowing the platform to expand further into the Florida Panhandle.

Mary Lynn Clark, chief executive of StayTerra, said Florida remains a core market for the company’s long-term growth strategy, with the Forgotten Coast representing a new regional expansion.

Haire said the investment would support Cape & Coast’s next phase of growth while maintaining its focus on locally guided, premium vacation rental experiences.

Founded in 2016, Cape & Coast manages a portfolio of high-end vacation homes and provides property management services supported by a 24-hour guest services team. The company is led by Heather Haire, who was promoted to chief executive earlier this year after serving as chief revenue officer for more than nine years.

Cape & Coast becomes the latest brand to join the StayTerra platform, which also includes Florida-based operator Prime Vacations and Colorado Rockies specialist Moving Mountains. StayTerra is backed by private equity firm Garnett Station Partners and venture capital investor Bessemer Venture Partners.

Highlights:

• StayTerra has invested in Cape & Coast Premier Properties as it expands its footprint in the US market.
• The vacation rental management platform said that the partnership would enable Cape & Coast to expand further into the Florida Panhandle.