Four months
after announcing
plans to go public via a special purpose acquisition company (SPAC) created
through a business combination with TPG Pace Solutions, vacation rental
management platform Vacasa begins trading today, under the ticker symbol VCSA.
The Portland-based
company, founded in 2009, debuts with a valuation of $4.4 billion and more than
$340 million in gross cash proceeds, coming off a strong
Q3 earnings report when the company reported revenue of $330 million and
adjusted EBITDA of $57 million.
“The short-term rental industry has been
professionalizing over the last few years. We have been seeing and expect to
see further consolidation in the industry as consumer demand and expectations
from vacation rentals grow,” says Charuta Fadnis, Phocuswright’s senior vice
president of research and product strategy.
“By 2025, Phocuswright projects that larger hosts and
property managers managing 50+ units will account for over half…
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