Vacasa moves into Portland headquarters in preparation for IPO

Portland: Vacasa has moved into its recently-built 61,000-square-foot headquarters in Portland’s Pearl District, in preparation for a potential initial public offering (IPO).

The Portland headquarters will represent a showcase office for the vacation rental management company, which is headed by Vacasa chief executive, Eric Breon.

Anticipating a surge in growth, Vacasa retained a lease on its former headquarters across the street when it moved into the new office in August. The company has 400 employees in Portland now and expects to hire hundreds more in the coming years.

Its new office is designed to be a recruiting tool in the city’s highly competitive technology job market.

Designed by GBD Architects, Vacasa’s new and larger headquarters hold 409 desks with 26 private rooms, 17 nooks and 25 communal spaces. All of the conference rooms have exterior windows and some of the common spaces are outdoors, on little decks carved out of the floor plan to give workers another option to get some air during their busy workday.

Propelled by a private equity deal totalling $103.5 million last year, Vacasa hopes to transform the vacation rental management business. In doing so, it is acquiring small vacation rental management businesses in destinations around the world and listing clients’ rental homes online.

The company employs more than 2,500 staff in total – most of them cleaning and maintenance staff – and lists more than 10,000 vacation homes altogether on its online site.

Vacasa announced last week it had paid an undisclosed amount to buy a short-term rental company called Oasis Collections, which listed vacation homes in cities such as Barcelona, London, Milan, Paris, Santiago and Chicago.

In addition to Portland, Vacasa has satellite offices in Florida, Chile and in Idaho. The latter is also where the company employs 145 staff in a newly-renovated office in Boise.