Casago and Vacasa Announce Strategic Merger of Premier Vacation Rental Brands
Casago, a leading vacation rental property management company, and Vacasa, a top vacation rental management platform in North America, have officially announced a strategic merger. Under the terms of the agreement, Casago will acquire all outstanding shares of Vacasa at $5.02 per share, a price subject to adjustments outlined in the merger agreement. This deal marks a significant step toward creating a comprehensive vacation rental management platform that blends global reach with local expertise.
The companies announce that the merger combines the strengths of both to create a unique opportunity in the vacation rental industry. Casago, known for its locally-empowered, personalized service, and Vacasa, which leverages technology to enhance property management and maximize revenue for homeowners, will unite their resources to deliver superior services for both homeowners and guests. Together, Casago and Vacasa aim to announce new offerings that provide top-tier home care, ensure robust revenue streams for homeowners, and deliver exceptional guest experiences.
“We’ve always focused on providing personalized service, and our merger with Vacasa amplifies this mission,” announced Steve Schwab, Casago’s founder and CEO. “Together, we’ll be able to scale our operations globally, maintaining the high level of service that our customers expect.”
Vacasa’s CEO, Rob Greyber, echoed these sentiments, emphasizing the merger’s alignment with Vacasa’s recent strategic focus on locally-driven, homeowner-focused property management. “By combining Casago’s expertise with Vacasa’s national scale, we’re empowering local teams to elevate the vacation rental experience,” he announced.
Roofstock, a prominent proptech platform, will also play a key role in the merger, providing strategic guidance and investment. Roofstock’s platform is renowned for enhancing property management capabilities and improving liquidity for residential investors. Their involvement is expected to further elevate the new entity’s ability to optimize performance across the residential rental ecosystem.
“We’re excited to be part of what promises to be a category-defining company in the vacation rental space,” announced Gary Beasley, co-founder and CEO of Roofstock. “This investment aligns with our goal of expanding our reach and supporting the broader residential investment ecosystem.”
The transaction, expected to close by the end of Q1 or early Q2 of 2025, is subject to approval by Vacasa’s shareholders. Under the terms of the deal, Vacasa stockholders will receive $5.02 per share in cash upon completion, representing a 28% premium over Vacasa’s 30-day average share price as of December 27, 2024. Following the merger, Vacasa’s common stock will no longer be publicly listed, and the combined company will become privately held.
In the months leading up to the merger, Vacasa’s Board and management conducted a thorough review of strategic alternatives, with assistance from financial advisors. A Special Committee of the Board oversaw this process, which included receiving a fairness opinion from an independent advisor. After considering all options, the Special Committee recommended the merger to Vacasa’s Board, which was unanimously approved.
Further details on the organizational changes and operational plans will be disclosed after the deal is finalized.
Casago, which manages nearly 5,000 properties across North America, Mexico, Costa Rica, and the Caribbean, has built a reputation for delivering exceptional guest experiences. Founded in 2001 by Steve Schwab, Casago’s customer-centric approach has earned it industry recognition, with nearly 95% of its U.S.-based partners being top-tier Airbnb Superhosts or VRBO Premier Partners.
Vacasa, with its cutting-edge technology platform, offers unmatched services for homeowners and guests, optimizing rental rates in real-time to maximize revenue. The company manages thousands of vacation homes in hundreds of destinations across North America and beyond, providing a seamless experience for guests with 24/7 support.
Roofstock, which has facilitated over $9 billion in real estate transactions and manages 18,000 rental homes through its Mynd affiliate, will bring valuable expertise in technology-driven property management to the merger.
This merger represents a new chapter for the vacation rental industry, combining the best of both companies to set a new standard for service, innovation, and local expertise. As the vacation rental market continues to evolve, this unified entity, including Casago, is poised to lead the way in delivering exceptional value to homeowners and unforgettable experiences for guests. With Casago’s personalized service and Vacasa’s national scale, the combined platform is well-positioned for success in the growing vacation rental market.
Casago, together with Vacasa, has announced a new level of synergy in vacation rental management that promises to enhance service offerings for both homeowners and guests.
