Vacasa’s growth continues as company purchases Resort Lodging Company
STEAMBOAT SPRINGS — Vacation rental management company Vacasa continues to grow in the Steamboat Springs area after signing an agreement to acquire Resort Lodging Co. this week.
“I think it just elevates Vacasa’s name in Steamboat,” said Bob Milne, chief operating officer at Vacasa. “I’m still a part of that community, and Steamboat is special to me. From my experience at Vacasa, as well as being with Wyndham, we really got something that’s pretty unique in the industry, and that’s why we’re growing. That’s why we’re in demand.”
The deal, which will not be finalized until the end of December, means Vacasa will assume management of Resort Lodging Co.’s vacation rental inventory in Steamboat, which is estimated to include 250 properties and 11 homeowners associations.
The deal makes Vacasa one of the biggest local property management companies along with Resort Group.
Vacasa just finalized the purchase of Wyndham Vacation Rentals from Wyndham Destinations in October, growing from just over 23 properties in Steamboat two years ago to 626 vacation properties and 29 home owners associations today. The company has 2,500 vacation homes and manages 62 HOAs in Colorado and also manages properties around the globe.
“Vacasa was the right buyer because, at its core, Vacasa is a vacation rental company, unlike many other companies in our business owned by a private equity firm or a hotel company,” Milne said.
Resort Lodging Co. was founded in late 2015 with a focus on local care and growing Steamboat’s reputation as a year-round getaway. The company has 155 employees, and Milne said President Blair McNamara, Vice-President Patrick Delaney and Director of Operations Josh Miller will remain onboard moving forward. Vacasa will retain the Resort Lodging Co. central office located at 1855 Ski Time Square Drive.
“The team we have in Steamboat will stay, and we have an amazing group of people who work at RLC,” McNamara said. “Our staff is paramount to the success we have had, and Vacasa recognizes that. Owners will see that Vacasa has a gift of knowing how to drive revenue for owners, and guests will continue to see great service from the same familiar faces.”
Milne, said while the deal is expected to be final at the end of the month, the integration will continue into the spring of 2020.
“It’s a local business, right?” Milne said. “I mean it’s the local teams in the field. It’s the front desk people, it’s the housekeepers, it’s the maintenance team, it’s the operations team, and it’s the general managers. They’re the ones that do the heavy lifting, and I think they’re the ones that, you know, will elevate Vacasa’s name in Steamboat.”
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