Vacasa Paid $619 Million for TurnKey Vacation Rentals in Mostly Stock
Photo Credit: The poolside view of a vacation rental property in La Quinta, California, near the Indio Hills that's professionally managed by TurnKey. Vacasa, an online vacation rental company backed by private equity, has acquired TurnKey Vacation Rentals, a manager for 6,000 properties, for $618.8 million. TurnKey
Skift Take
Riding the hot vacation rental market, TurnKey Vacation Rentals did well for its investors — especially if the Vacasa stock price holds up in its pending public market debut.
In one of the top handful of online travel and short-term rental deals of the year, Vacasa paid $618.8 million to acquire rival property management company TurnKey Vacation Rentals, with the vast majority of it transacted in Vacasa common stock.
The purchase price, which had been disclosed in financial filings in mid-November, hasn't been reported in the press until now.
In the deal, which closed in April, Vacasa paid TurnKey ju
