Vacasa
Vacasa is a vacation-rental management company that operates and markets professionally managed holiday homes across North America and selected international destinations.
Last updated August 31, 2026
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Overview
Vacasa is a vacation-rental management company headquartered in Portland, Oregon. Founded in 2009 by Eric Breon and attorney Cliff Johnson, the company emerged from the founders' difficulty arranging reliable rentals and local operations for a family vacation home in Long Beach, Washington. Rather than functioning only as an online booking marketplace, Vacasa built a managed-service model combining property marketing, reservations, guest support, housekeeping, maintenance, pricing, and local field operations. The company expanded rapidly during the 2010s as demand for professionally managed vacation homes grew. It used a combination of organic expansion, technology, local operating teams, and acquisitions to build a large portfolio. Its acquisition of Oasis Collections in 2018 broadened its presence in professionally managed urban and resort accommodations. In 2019, Vacasa bought Wyndham Vacation Rentals from Wyndham Destinations for $162 million, a transaction that materially increased its geographic reach and helped make it the largest vacation-rental management company in North America at that time. In 2021, it completed the acquisition of TurnKey Vacation Rentals, adding more than 6,000 homes and taking its reported portfolio above 30,000 units. At its larger scale, Vacasa reported managing more than 35,000 vacation rentals across 34 U.S. states, Canada, Belize, and Costa Rica. Vacasa's operating proposition is built around a technology-enabled local service network. Its systems include tools for coordinating maintenance and field work, algorithmic scheduling for cleaning operations, owner-facing performance information, and distribution of listings through digital travel channels. The company also developed complementary services for vacation-home owners and investors, including vacation-rental brokerage and real-estate support, community association management, multifamily services, and interior design. The business attracted substantial private investment after initially being bootstrapped. It raised a $35 million financing round in 2016, expanded that round to $40 million later the same year, and subsequently announced large Series B, Series C, and Series D financings. In 2019, its Series C financing valued the company at more than $1 billion. In 2021, Vacasa announced a merger with TPG Pace Solutions, a special-purpose acquisition company sponsored by TPG Pace Group. The transaction closed in December 2021 and brought Vacasa to the Nasdaq as a public company under the ticker symbol VCSA, with an announced equity valuation of approximately $4.5 billion. The public-company period was difficult. Vacasa experienced continuing net losses, a major decline in its share price, and successive workforce reductions. It announced a cut of approximately 5% of staff in February 2024 and a further reduction of about 13%, affecting roughly 800 employees, in May 2024 as part of a restructuring effort. In 2025, Vacasa agreed to be acquired by Casago in an all-cash transaction. Casago completed the acquisition on May 1, 2025, at an announced value of approximately $130 million, or $5.30 per share. Vacasa became privately held and its Nasdaq listing ended after the transaction. The brand therefore represents a transition from venture-backed technology growth company and public market business to a privately owned vacation-rental management platform.
History
Vacasa was established in 2009 by Eric Breon and Cliff Johnson after the founders encountered practical difficulties managing a family vacation home in Long Beach, Washington. The original problem was operational rather than purely technological: owners needed a dependable way to coordinate bookings, guest communication, cleaning, maintenance, and local oversight. Vacasa developed a full-service management approach intended to handle those functions on behalf of homeowners while also marketing properties to travelers. The company expanded rapidly through the 2010s. In 2014 it received recognition for exceptional growth from the Portland Business Journal and Inc. magazine. In 2016 it was included in Deloitte's Technology Fast 500, reflecting the technology component of its operating model. Vacasa's growth combined local market teams with centralized systems for reservations, distribution, pricing, homeowner reporting, and service coordination. It also formed a partnership with Google to make available rentals discoverable through travel-related search results, an early example of a vacation-rental manager integrating its inventory directly into a major search environment. Vacasa broadened its physical and service footprint during the late 2010s. In 2018 it announced an expanded Portland headquarters in the Pearl District and launched or developed adjacent offerings including Vacasa Real Estate, community association management, multifamily services, and interior design. The Oasis Collections acquisition in October 2018 added another professionally managed accommodation platform. In 2019 Vacasa acquired Wyndham Vacation Rentals for $162 million. This transaction brought a substantial number of homes and operating locations into Vacasa and helped it become North America's largest vacation-rental management company by reported scale. The company also raised increasingly large private financings, including a $103.5 million Series B in 2017, a $64 million Series B extension in 2018, a $319 million Series C in 2019, and a $108 million Series D in 2020. Leadership changed in 2020 when co-founder Eric Breon left the CEO position. Matt Roberts, a Vacasa board member and former OpenTable chief executive, initially served as interim CEO and later became permanent CEO. During the same period, Vacasa continued expanding its technology and portfolio. It completed the acquisition of TurnKey Vacation Rentals on April 1, 2021, adding more than 6,000 properties and increasing its reported managed inventory to more than 30,000 units. The company also introduced the Vacasa Homeowner app in 2021, providing owners with a mobile interface for property performance and related information. Vacasa entered public markets through a merger with TPG Pace Solutions, a special-purpose acquisition company sponsored by TPG Pace Group. The transaction closed on December 7, 2021, giving Vacasa an announced equity valuation of approximately $4.5 billion and a Nasdaq listing. Rob Greyber, formerly associated with Expedia, was selected to replace Matt Roberts as CEO in 2022. The public-company phase brought substantial pressure. Vacasa faced continuing net losses, a steep fall in its share price, and several rounds of workforce reductions. It reduced staff by approximately 5% in February 2024 and announced a further reduction of about 13%, affecting roughly 800 employees, in May 2024. These measures were presented as restructuring actions intended to address the company's financial performance. Vacasa subsequently agreed to be acquired by Casago after the company's share price had fallen sharply. Casago completed the transaction on May 1, 2025, in an all-cash deal announced at approximately $130 million, equivalent to $5.30 per share. The closing made Vacasa privately held and resulted in the delisting of its Nasdaq shares. Vacasa's history thus spans the development of a local-operations vacation-rental model, rapid acquisition-led expansion, venture financing and public-market growth, and a later return to private ownership under Casago.
- 2025
Casago takes Vacasa private
[1]Casago completes its acquisition of Vacasa, after which Vacasa's Nasdaq listing is removed.
- 2021
TurnKey acquisition and public-market transaction
[1]Vacasa completes its TurnKey acquisition and later becomes a Nasdaq-listed company through a merger with TPG Pace Solutions.
- 2019
Wyndham Vacation Rentals acquisition
[1]Vacasa acquires Wyndham Vacation Rentals for $162 million and announces a $319 million Series C financing.
- 2018
Expansion of services and portfolio
[1]Vacasa expands its Portland office, launches additional owner-oriented services, and acquires Oasis Collections.
- 2016
First outside financing
[1]Vacasa announces a $35 million financing round and later expands it to $40 million.
- 2014
Early growth recognition
[1]Vacasa receives recognition from the Portland Business Journal and Inc. for rapid private-company growth.
- 2009
Vacasa is founded
[1]Eric Breon and Cliff Johnson establish Vacasa after experiencing difficulties managing a family vacation rental in Washington state.
Products and positioning
A full-service, technology-enabled vacation-rental manager combining centralized marketing and booking with locally delivered housekeeping, maintenance, guest support, and homeowner services.
Property management · 2009
Vacasa Vacation-Rental Management
Vacasa's core offering is end-to-end management for vacation homes. Services combine listing distribution, reservations, guest communication, pricing, arrival support, housekeeping, maintenance, and local field operations. The model is designed for homeowners who want professional administration of short-term rental properties rather than managing every operational task themselves.
Operations software
Vacasa Field App
The Vacasa Field App supports local operations teams by providing real-time information about maintenance tickets, property tasks, and service updates. It is part of the company's effort to coordinate geographically distributed staff and standardize the execution of cleaning, repairs, inspections, and guest-readiness work across managed homes.
Operations software
HomeCare Hub
HomeCare Hub is an operational platform associated with Vacasa's home-service network. Its scheduling capabilities use geographic and task information to help optimize cleaning assignments and coordinate home-care work across regional portfolios.
Owner technology · 2021
Vacasa Homeowner app
Introduced in 2021, the Vacasa Homeowner app gives property owners a native mobile experience for viewing information about home performance and their relationship with the management service.
Real-estate services · 2018
Vacasa Real Estate
Vacasa Real Estate supports buyers and sellers of vacation-rental properties through a network of agents familiar with the economics and operational requirements of holiday homes. The business expanded through brokerages in states including Arizona, Florida, Hawaii, Oregon, and South Carolina.
Marketing campaigns
- 2019Google vacation-rental search integration
United States
Vacasa partnered with Google to integrate available vacation rentals into search results, helping travelers discover Vacasa-managed homes through a major search and travel-discovery channel.
Outcome. The initiative increased the direct discoverability of Vacasa inventory and was described as a first for a vacation-rental management company.
Brand decisions
2025
Accept Casago acquisitionM&ABackground
After a substantial decline in Vacasa's share price and repeated cost reductions, the company agreed to a private acquisition.
Action taken
Casago completed an all-cash acquisition of Vacasa on May 1, 2025, at approximately $5.30 per share.
Aftermath
Vacasa became privately held and its Nasdaq listing was delisted following closing.
Transaction value. Approximately $130 million (2025)
2024
Restructuring and workforce reductionsStrategyBackground
Vacasa reported continuing net losses and sought to reduce its cost base during a difficult public-company period.
Action taken
The company announced staff reductions of approximately 5% in February and approximately 13%, affecting about 800 employees, in May.
Aftermath
The reductions formed part of a restructuring effort before the company was later acquired and taken private.
2021
Acquire TurnKey Vacation RentalsM&ABackground
Vacasa pursued additional U.S. portfolio density and operating capability through acquisition.
Action taken
It completed the acquisition of TurnKey Vacation Rentals on April 1, 2021.
Aftermath
More than 6,000 properties were added, taking Vacasa's reported managed portfolio above 30,000 units.
2021
Become a publicly traded companyStrategyBackground
Vacasa pursued access to public-market capital and a higher-growth corporate structure.
Action taken
It agreed to merge with TPG Pace Solutions, a TPG-sponsored special-purpose acquisition company.
Aftermath
The merger closed on December 7, 2021, and Vacasa began trading on Nasdaq at an announced equity valuation of approximately $4.5 billion.
Announced equity valuation. $4.5 billion (2021)
2019
Acquire Wyndham Vacation RentalsM&ABackground
Vacasa sought to accelerate geographic and portfolio growth in the vacation-rental management market.
Action taken
It acquired Wyndham Vacation Rentals from Wyndham Destinations for $162 million.
Aftermath
The transaction substantially increased Vacasa's North American scale and contributed to its position as the continent's largest vacation-rental management company by reported portfolio.
Acquisition price. $162 million (2019)
Recent events
Vacasa launches homeowner app[2]
Reported:
Vacasa released the Vacasa Homeowner app, which lets homeowners on its platform access information about property management and performance, including reservations, maintenance and revenue.
Vacasa announces plan to acquire TurnKey Vacation Rentals[3]
Reported:
Vacasa said it plans to acquire competitor TurnKey Vacation Rentals. The deal would add 6,000 listings to Vacasa’s platform, and TurnKey’s 475 employees would join Vacasa.
Sources3 sources
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