Vacasa Merges With Fellow Vacation Rental Firm Casago

Vacation rental property management companies Casago and Vacasa are becoming one.

Casago will acquire all Vacasa’s stock in a $128.6 million deal, MarketWatch reported Monday (Dec. 30).

“This transaction combines the strengths of both companies and accelerates progress toward a shared vision: empowered local teams, delivering best-in-class home care and revenue for homeowners, and providing superior hospitality for guests,” a Monday news release said. “Combining Casago and Vacasa will create an unmatched vacation rental management platform, pairing the advantages of an international brand with the personalized care of local management.”

The combined company will become a private company following the completion of the transaction, expected to become final near the end of the first quarter or the early part of the second quarter of 2025, according to the release.

Vacasa has nearly eight times as many properties in its portfolio as the company acquiring it, PhocusWire reported Monday. Vacasa has struggled since going public in 2021, with revenue for its most recent quarter down 17% year over year. The company has held two rounds of layoffs this year and lost its chief operating officer, John Banczak, who now holds the same title at Casago.

Also Monday, the companies announced in the press release that Roofstock, a property-tech platform, plans to invest in and provide strategic guidance to the combined company.

“Roofstock brings deep real estate expertise through its service offerings and software solutions, including helping more than 300,000 property owners with nearly 1 million units optimize the performance of their rental properties,” the release said.

In other news from the sector, Hostaway announced earlier this month that it secured a $365 million investment to bolster its vacation rental software and management system designed for short-term rental property owners and managers.

The company plans to use the new financing to fuel its international expansion, product development and artificial intelligence initiatives.

Hostaway CEO and co-founder Marcus Räder said at the time the investment would also be used “to further expand our footprint across the world, especially in key markets like France, Spain and Italy.”