Vacasa now largest vacation rental company in North America
October 03, 2018
This article was first published by Inman.
Vacasa has become the largest vacation rental management company in North America after the acquiring Oasis Collections, a home-sharing company that operates in 17 major cities across Europe and the Americas, for an undisclosed amount.
With the deal, Vacasa gained 200 new properties, pushing its total inventory to 10,600 — at least 600 more than its closest competitor, Wyndham Vacation Rentals. It also expands the company’s footprint on an international scale, adding cities such as Barcelona, Chicago, London, Milan, Paris and Santiago to its list.
“For us, it’s crucial that in every market we manage homes, we offer our guests the same, high-quality experience that they have grown accustomed to across the world with Vacasa,” said Vacasa founder and CEO Eric Breon in a prepared statement. “Our acquisition of Oasis enables us to enter new and popular urban markets in international destinations, while bringing on employees in those areas that know the local communities.”
The nine-year-old Oasis Collections hinges on a “home meets hotel” philosophy with their team conducting 50-point inspections on each prospective home before listing it on their site. After the home is approved, Oasis will work with owners to take professional photos, create a pricing strategy and marketing plan, provide professional cleaning, as well as handle reservations, security deposits and guest vetting.
Before each stay, all Oasis properties are fully stocked with bedroom, bathroom, and kitchen essentials, and each guest has access to a sidekick — a concierge who will give them a tour of the home and surrounding neighborhood as well as schedule any activities, such as a late-night dinner.
Last year, Oasis received an undisclosed investment from Hyatt after early backer AccorHotels consolidated its rental brands and stopped investing in the brand, according to an interview Oasis founder and CEO Parker Stanberry gave travel site Skift. With the Hyatt deal, Oasis became part of Hyatt’s distribution system and loyalty systems, which will continue.
In a press release, Stanberry said the deal with Vacasa will allow his company to improve its property management and marketing systems, and pricing scale technology.
“Building Oasis has been an amazing and rewarding experience, and I’m excited to see what the future holds with Vacasa,” Stanberry said. “While our companies have targeted different geographies, we share the same core philosophy of bringing professionalism and service to home-sharing, with a focus on local teams in every market in which we operate.”
“Vacasa’s scale and expertise in property management and marketing, paired with its industry-leading pricing technology will elevate the experience for our homeowners and guests,” he added.
Vacasa says it will keep all of Oasis’ employees, and Stanberry will join the Vacasa executive team to help grow its international operations.