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Vacation rental management group Vacasa has agreed to acquire Wyndham Vacation Rentals from Wyndham Destinations for roughly $162 million.
Vacasa plans to finance the deal through a combination of cash and equity, with the sale set to be comprised of $45 million cash at closing, up to $30 million of Vacasa equity and a remaining balance in either seller financing or cash at closing. The transaction is expected to close this fall.
The acquisition will grow Vacasa’s management footprint to a total of 23,000 homes worldwide.
The move will also bring Wyndham Vacation Rentals’ regional and local brands, including Hatteras Realty, ResortQuest, ResortQuest Whistler, Smoky Mountains Property Management, Kaiser Realty, Corolla Classic Vacations and Vacation Palm Springs, under the Vacasa umbrella.
Launched in 2009, Oregon-based Vacasa has expanded aggressively in recent years, making a total of 52 acquisitions in 2018 alone. The company says it expects more than $1 billion in gross bookings in the next 12 months.