Vacation rental management firm Vacasa has sealed a deal to buy Wyndham Destinations’ vacation rental business.
Portland-based Vacasa will buy Wyndham Vacation Rentals for $162 million, which includes more than $30 million in Vacasa equity.
The acquisition will increase Vacasa’s portfolio of homes by more than 23,000 across the Americas, Europe and Africa.
Vacasa says it is on track to bring in more than $1 billion in gross bookings and about $500 million in net revenue over the next year.
"We are excited to partner with the pioneering company in the short-term rental industry that helped make vacation homes popular for so many families," said Vacasa founder and CEO Eric Breon.
The transaction is expected to close in the fall.
