US: Resort marketplace Vacatia, which provides solutions for timeshare owners, property managers and vacation rental owners, has announced the acquisition of Virginia Beach-based hospitality and vacation ownership company, VSA Resorts.
The addition of VSA’s three resorts and association management business means that Vacatia now manages 21 timeshare and 42 whole-ownership homeowners associations with 4,750 units and 50,000 owners in eight states.
Vacatia’s latest transaction comes hot on the heels of November’s announcement that it had secured $20 million in a Series B financing round and obtained a $60 million acquisition and development fund to rapidly grow its strategy of modernising independent timeshares through technology and service.
Caroline Shin, co-founder and CEO of Vacatia, said: “The addition of VSA Resorts to our nationwide network reflects Vacatia’s dedication to providing owners and guests with high-quality, hassle-free vacations in the most in-demand destinations. We are committed to enhancing owner and guest experiences by delivering new benefits and expanding the customer base at our resorts across eight states.”
VSA president Lori Overholt said: “In considering this sale, we were impressed by Vacatia’s new ideas for independent timeshare resorts, customer-centric perspective and highly capable management team. Our owners will be well served by Vacatia’s ability to enhance their existing ownerships, and our team will have increased opportunities for advancement as part of a larger, fast-growing company.”
The VSA resorts will be featured on Vacatia’s website and offered through third-party booking platforms.
While owners at the resorts will be able to participate in OwnerPLUS, enabling them to travel to Vacatia’s managed and affiliated resorts, the resorts will also be available through the company’s subscription-based membership model, VacatiaPLUS.