Casago and Vacasa have recently announced an agreement in which Casago will acquire all of Vacasa’s outstanding public shares for approximately $128 million, making the merged entity a private company. Additionally, pro-tech company Roofstock plans to invest in the combined company and offer strategic guidance. The merger is seen as a natural next step for Vacasa as it focuses on enhancing its services for homeowners, guests, and local teams. CEO Rob Greyber believes that combining with Casago, a company that shares their vision of locally-empowered property management, will accelerate their progress and set a new standard in vacation rental property management.
Casago, the smaller of the two property management companies, manages around 5,000 vacation rentals in the U.S., Mexico, Costa Rica, and the Caribbean. It has been working on building its brand through franchising deals with property management partners. Casago is based in Arizona, while Vacasa, the largest vacation rental manager in the U.S., is headquartered in Portland, Oregon. Vacasa currently manages 38,000 homes in various locations such as the U.S., Belize, Canada, Costa Rica, and Mexico. The terms of the deal include Vacasa public shareholders receiving $5.02 per share in cash, with adjustments possible. Current shareholders Silver Lake, Riverwood Capital, and Level Equity are expected to retain minority stakes in the combined company after the deal is finalized.
Casago’s founder and CEO, Steve Schwab, expressed excitement about merging with Vacasa, citing their shared commitment to delivering excellent service to homeowners and guests. He believes that by joining forces, the two companies can enhance their service quality on a global scale, leveraging their resources and expertise to benefit homeowners, guests, and partners alike. Vacasa has faced financial challenges since going public in a SPAC deal in late 2021, experiencing homeowner churn and a decrease in revenue. The Vacasa board began exploring strategic alternatives in early 2024, ultimately leading to the decision to approve the merger with Casago. The board has recommended that shareholders accept the agreement, with the deal expected to close in late March or early April.
The merger between Casago and Vacasa represents a significant step in both companies’ journeys, paving the way for enhanced services, a stronger focus on customer satisfaction, and a global expansion of their property management offerings. By combining their expertise and resources, the two companies aim to set a new standard in vacation rental property management, providing personalized and locally empowered service to homeowners and unforgettable experiences to guests. As Casago and Vacasa work towards finalizing the deal and integrating their operations, the industry will be watching closely to see how this partnership transforms the vacation rental market and shapes the future of property management.
The merger between Casago and Vacasa is expected to bring about a transformation in the vacation rental industry, with the combined entity set to offer enhanced services, a focus on customer satisfaction, and a global expansion of property management offerings. By joining forces, the two companies believe they can set a new standard in vacation rental property management, delivering personalized, locally empowered service to homeowners and exceptional experiences to guests. As they move forward with finalizing the deal and integrating their operations, industry observers will be watching to see how this partnership reshapes the landscape of property management and defines the future of the vacation rental market.
