Vacasa, the vacation rental service which has a major base of operations in Boise, is bulking up.
The Portland-based vacation rental business will buy Wyndham Vacation Rentals in a deal valued at $162 million, the companies announced.
Vacasa will increase its inventory to more than 23,000 rental homes around the world. The deal will add brands like ResortQuest, Vacation Palm Springs and Hatteras Realty to Vacasa’s portfolio.
“We are excited to partner with the pioneering company in the short-term rental industry that helped make vacation homes popular for so many families around the world,” Vacasa founder & CEO Eric Breon said in a statement. “Combining Wyndham Vacation Rentals’ decades of operational excellence with Vacasa’s next-generation technology will deliver the industry’s best vacation rental experiences.”
Vacasa said it would book $1 billion in sales and $500 million in total revenue.
The deal will come through a combo of cash, debt and equity in Vacasa. Wyndham Destinations, which is separate from the hotel chain, will still operate vacation club properties like Club Wyndham.
Vacasa operates out of Downtown Boise with more than 150 employees.