US: Vacation rental management platform Vacasa has announced it has acquired the assets of Redwood Coast Vacation Rentals.
After the deal closed on 30 December, the addition of 125 new homes means Vacasa now manages more than 1,680 vacation rentals in the state of California.
Headquartered in McKinleyville, California, Redwood Coast Vacation Rentals opened its doors in 2007 with only a couple of vacation rentals under management locally. The company aimed to increase tourism along the Northern California coastline, demonstrating what makes the region unique to visitors, and driving business for fellow locally-owned companies.
In connection with the acquisition, Vacasa has hired Redwood Coast Vacation Rentals’ 22 employees, including its former owner Mike Reinman, who now serves as a community manager.
Reinman said: “When I started Redwood Coast, I was leading a double life as a local business owner and a high school math teacher. I found immense meaning in both jobs, but ultimately made the call to prioritise the short-term rental world.
“My eventual decision to sell my company was driven by the organic growth we achieved, and the understanding that I needed a company with sophisticated resources, including around-the-clock customer care and revenue management expertise, to better serve our homeowners and guests.
“It’s a win-win with Vacasa; in addition to operational support, my staff and I have also gained more career growth opportunities and a better work-life balance,” he added.
Homeowners whose vacation rentals were managed by Redwood Coast Vacation Rentals will now benefit from Vacasa’s dynamic pricing, marketing and booking expertise, as well as partnerships with top listing sites such as Airbnb, Booking.com and Vrbo that drive year-round bookings and increased revenue.
Vacasa regional director Kristen Taylor said: “We jumped at the opportunity to begin caring for Redwood Coast’s beautiful homes. The company’s coastal inventory is special to us, and the acquisition allowed us to expand sustainably in the region.
“The staff we brought on have already proven to be an integral part of our team, and we’re excited to continue learning from one another,” she added.
For more information, visit the Vacasa website here.