Vacation Rental Acquisition Deal to Drive Off-Season Tourism, Add Jobs
Big Cottonwood Canyon, Utah, July 2016 — Vacasa, the leading technology-enabled vacation rental company, today announces its acquisition of Canyon Vacation Rentals, which has been operating in Big Cottonwood Canyon, Utah since 2008. Vacasa will assume management of the company’s 40 rental properties.
Founded in 2009, Vacasa provides a full-service management solution to vacation homeowners. The company backs on-the-ground staff with proprietary yield management and marketing technology solutions to drive bookings and increase revenue, while simultaneously providing guests with a consistent vacation rental experience. Leveraging its proprietary yield management technology, which reprices homes up to four times daily based on demand, Vacasa expects to drive increased year-round occupancy to the area, both during the busy winter months and traditionally slower summer months.
”Vacasa is proud to offer demand-driven pricing to our homeowners, guests, and to the Solitude Village community as a whole,” says Vacasa founder and CEO Eric Breon. “We expect our marketing and technology systems to boost off-season occupancy rates and bring increased tourism to the community, which will greatly impact local businesses that have traditionally been affected by seasonality.”
According to Vacasa, the partnership is an opportunity to gain market share in the greater state of Utah, where it currently manages 161 vacation homes. The company plans to expand in Big Cottonwood Canyon in the coming year, and says it will likely hire several additional local employees to fill operations roles.
Damon Lowe, who has owned Canyon Vacation Rentals with business partner Tyler Rippy for eight years, says he is selling the business to focus on his real estate business, Lifestyle Properties Real Estate.
“Over the years, I have witnessed incredible growth in Big Cottonwood Canyon, with more visitors coming each year to take advantage of the multitude of recreational options available here,” says Lowe. “It has been quite a balancing act to manage the increased volume of guests while also meeting the demands of running a full time real estate brokerage. Vacasa brings marketing power, management experience, and enhanced guest services to our homeowners and those vacationing in the area, and I believe they will expand the reach of this market to an even broader audience. I view the partnership with Vacasa as a win-win for our homeowners and guests.”
To learn more about Vacasa or to book a stay, please visit https://www.vacasa.com/usa/Utah/Solitude/.
Vacasa is the fast-growing technology-enabled full-service vacation rental company. Leveraging proprietary technology, Vacasa drives revenue for homeowners and provides a seamless experience for guests. Founded in 2009 and based in Portland, Oregon, Vacasa manages a growing portfolio of more than 3,500 vacation homes in the U.S., Europe, Central and South America. In seven years, Vacasa has grown from two to more than 1,000 employees, has been honored as the Oregon Better Business Bureau Large Business of the Year and was ranked ninth on the Inc. 5000 Fastest-Growing Companies list. For more information, visit https://www.vacasa.com/.