Vacation Rental Manager VTrips Ramps Up Dealmaking and Mulls Going Public
Photo Credit: The view from a porch of a vacation rental with 5,000 square feet of space and ocean front views at Cinnamon Beach, Florida. It was recently bookable via VTrips, a property management company for vacation rentals. The Florida-based startup has acquired Resort Collection and plans to go public. VTrips
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VTrips all but outright says that it's more profitable than its larger rival Vacasa. But we'll only know for sure if they both file to go public.
Vacation rental companies are ramping up their merger activity in hopes that a scale game will help them make the most of a domestic boom in bookings.
VTrips, a vacation rental property management company based in Ponte Vedra Beach, Florida, said it acquired Resort Collection and its 800 properties. The deal, announced June 1, boosted VTrips' inventory by roughly a third, to 3,000 properties under exclusive contracts. The company paid cash, but it didn't disclose the terms of the deal.
"We anticipate we will go public someday and file an S-1," said founder and CEO Steve Milo. "It will be a bad day for companies who do not have anywhere near the profitability despite a larger unit count."
Milo wholly owns VTrips. He argued that his company takes a smarter approach to consolidate the vacation rental industry than other better-known players thanks to a different strategy on branding, operations, and technology. His private company hasn't released financials, but Milo said the com
