Vacasa, a North American vacation rental management platform, closed the acquisition of Wyndham Vacation Rentals from Wyndham Destinations (NYSE: WYND), the global leader in vacation ownership and exchange, for $162m, as announced in July.
Vacasa, which financed the acquisition of Wyndham Vacation Rentals through a combination of cash and equity, will immediately begin to migrate the Wyndham Vacation Rentals portfolio of 9,000+ homes in 50 destinations into its platform.
Led by Eric Breon, founder and CEO, Vacasa will manage more than 23,000 homes across North America, Europe, Central and South America, and Africa.
Founded in 2009, the company will integrate Wyndham Vacation Rentals signature brands including Corolla Classic Vacations, Hatteras Realty, Kaiser Realty, Oceana, ResortQuest, ResortQuest Whistler, Smoky Mountains Property Management and Vacation Palm Springs onto its platform over the next 12 months.
The full integration is expected to be complete by the fall of 2020.
In addition to acquiring Wyndham Vacation Rentals property management contracts, the company will absorb management of 140 homeowners associations (HOAs), which will fold under Vacasa Community Association Management. Short-term rental-focused HOAs in Alabama, Colorado, Delaware, Florida, South Carolina and Utah will transition to the platform, bringing the total HOAs under management to 156.