US: VRM Intel has reported that Vacasa has purchased Sterling Resorts, one of the largest vacation rental management companies on the Florida Gulf Coast.
The management company currently manages 450 homes spanning across destinations along the Gulf Coast, following its previous purchase by Pacifica Companies in 2015. Since that time, Sterling Resorts has reported no inventory growth.
Meanwhile, Vacasa’s latest acquisition means it will now manage up to 13,000 exclusive vacation rentals and it will consolidate its place as the largest vacation rental management company in North America.
The firm has raised over $200 million from outside funding and the latest purchase represents a significant milestone in establishing Vacasa’s presence in traditional vacation destinations, such as Alabama, Colorado, Florida and South Carolina.
The largest area rivals for Sterling include Southern Resorts, which has been expanding on a regional scale, and Wyndham Vacation Rentals. The latter recently announced it was looking into strategic alternatives for its rental businesses in North America, including its locations in Northwest Florida.
For more information, visit the Sterling Resorts website here.