Guest reservations for May were six times higher than in April, suggesting increased interest in leisure travel. During the height of the crisis, Vacasa had guest bookings in only 357 U.S. cities. This has expanded to 723 U.S. cities
Fremont, CA: North America's largest vacation rental management platform Vacasa raised USD 108 million in a strategic investment round led by existing investor Silver Lake with participation from other existing investors Riverwood Capital and Level Equity. The company is already experiencing strong recovery as stay-at-home restrictions lift and popular vacation destinations reopen. Recent data from Vacasaa shows there has been a substantial increase in daily reservations in more cities, and a reduced booking window between the time a guest books their vacation and the date of their expected vacation.
"Like many companies in the travel sector, Vacasa experienced challenges as the COVID-19 pandemic took hold. We are incredibly fortunate for the continued support of our investors," said Matt Roberts, CEO of Vacasa. "As we begin to emerge from this global crisis with an infusion of capital, we are in a very strong financial position to capture consumer demand. We believe there will be a preference shift from hotels to professionally managed vacation rentals as privacy and cleanliness rise to be top priorities for travelers."
Guest reservations for May were six times higher than in April, suggesting increased interest in leisure travel. During the height of the crisis, Vacasa had guest bookings in only 357 U.S. cities. This has expanded to 723 U.S. cities. Vacasa's booking window peaked in April, reaching 142 days, indicating that guests were booking trips further out. Since mid-May, Vacasa's booking window is back down to 40 days, in line with 2019 averages.
"We are excited to continue our partnership with Vacasa, which has spent the past decade delivering exceptional experiences to its guests and strong financial returns to its homeowners," said Joerg Adams, managing director at Silver Lake. "We believe in the team, the business model and the customers and communities Vacasa serves, and that this investment enables the company to continue to innovate and to maintain its strong growth trajectory."
Vacasa was founded in 2009 with a professional team of housekeepers who have serviced and cleaned homes with a set of consistently high standards. The company recently launched Vacasa Premium Clean, a new program that meets or exceeds all currently published CDC recommendations and follows the Vacation Rental Management Association's SafeHome guidance. Vacasa's goal is to provide even more protection, and support to everyone in the communities it serves as the demand for vacation rentals continues to increase.