Vacasa Announces First International Acquisition in Venice, Italy
July 20, 2016
Portland, Ore., July 20 , 2016 — Vacasa, the leading technology-enabled vacation rental company, today announces its first international acquisition with the purchase of Rentalinitaly in Venice, Italy. As a result of the deal, Vacasa will assume management of 70 properties in Venice, Florence, Rome, and more -- expanding its Italian portfolio by more than 250 percent.
Headquartered in Portland, Oregon, Vacasa employs more than 1,300 people globally and manages a growing portfolio of 3,700 homes in 14 U.S. states and 5 countries. Following its recent $35 million Series A financing round, Vacasa announced that it would direct the additional capital to fuel continued expansion in the U.S. and abroad, making its first investment in the $164 billion European travel accommodation market (Euromonitor International, ETOA). This acquisition marks its most significant international development to date.
“Vacasa’s long-term goal is ubiquity,” says the company’s founder and CEO, Eric Breon. “We strive to offer a simple, reliable vacation rental experience to vacationers and vacation rental owners in every market in the world, and this deal is an exciting step in that direction.”
Vacasa signed its first acquisition deal in late 2014, and since then has fueled growth through acquisitions at a rapid rate. To date, the company has closed more than 30 deals and has added a dedicated corporate development department to integrate each acquisition into the Vacasa fold. The team carefully identifies opportunities and works behind the scenes to ensure a smooth onboarding process for homeowners, guests, and employees.
“Vacasa has the expertise and innovation needed to revolutionize the vacation rental industry, and I am thrilled for the opportunity to work with them to develop the vacation rental experience in Venice, says Rentalinitaly owner Lorenzo de Pieri, who will join the Vacasa team to develop its Venice-area portfolio. “I am personally very excited to put my experience and knowledge to work to help Vacasa grow in this beautiful country.”
Vacasa first connected with Lorenzo De Pieri -- who has owned the company for more than 20 years -- at the industry’s popular VRMA European Seminar in March. De Pieri founded Rentalinitaly in 1996, and since has managed more than 35,000 reservations and 14,000 clients. He will now join the Vacasa team to help grow the company’s Italian portfolio and ensure effective on-the-ground operations.
Vacasa currently employs a fast-growing team in Europe, where the company manages close to 200 properties after just six months in operation there. As the company continues to expand, it will add team members both locally and at its Portland, Oregon headquarters to support acquisition development and international expansion.
To learn more about Vacasa or to book a stay, please visit https://www.vacasa.com/.
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About Vacasa
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/.
