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Vacasa being bought out?

Vacasa being bought out?




I just read in the Island Free Press that Vacasa was being bought out by Casago (sp?). The new company’s business model is to sell off some of the local assets under franchise agreements. Any of y’all who know the rental market well, is this good or bad, for homeowner or renters?


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RE: Vacasa being bought out?




I would stay far, far away........vacasa has been crap since day one....would not surprise me if come to find out that Casago is just a spin off of Vacasa ownership looking to salvage something they've already lost. I'm afraid 3rd party ownership of any property management company will be a nightmare for someone, either renters or owners, or both. Much better off to stick with the established local companies, ......quicker and better resolution to issues for all involved.


RE: Vacasa being bought out?




"Vacasa currently doesn’t have any franchises while Casago operates both company-led businesses as well as franchises." - Click to follow link...

=> "In other merger-related news not widely reported, John Banczak, the former Vacasa chief operating officer who parted ways with the company in March, was hired as Casago’s chief operating officer in December.

The Deal Price May Not Be the Deal Price
The announced $128 million merger, which would see Vacasa shareholders receive $5.02 per share in cash, could be adjusted downward depending on homeowner churn, and Vacasa’s liquidity." - same article

"In a strategy that hasn’t been reported until now, Casago plans on trying to sell off some of the merged company’s local operations and then entering into franchise agreements with the new owners, according to a source. That’s in keeping with Casago’s existing franchise model.

In so doing, the new company can make money in two ways — selling off local assets, and then earning franchise fees after the sales." - same article
______________

merger blurb from casago.com Click to follow link...

"Existing Vacasa shareholders Silver Lake, Riverwood Capital and Level Equity will continue to have minority investments in the combined company following the closing. Roofstock, Inc.has provided Casago with equity commitments for the transaction and will be investors in the combined company. The transaction, which is expected to be completed towards the end of the first quarter or the early part of the second quarter of 2025, is subject to certain customary closing conditions, including approval by Vacasa’s shareholders."



RE: Vacasa being bought out?




www.sec.gov/Archives/edgar/data/1874944/000114036124050635/ny20040790x3_ex99-1.htm

Here are the three players as described in an SEC filing:

"About Casago
Casago is a premier vacation rental management company, overseeing nearly 5,000 properties across 72 cities in the United States, Mexico, Costa Rica, and the Caribbean. Founded in 2001 by former Army Ranger Steve Schwab, Casago has earned a reputation for delivering exceptional guest experiences and reliable property management services. With a customer-centric approach, the company empowers local teams to provide personalized, responsive support for both homeowners and guests. Casago's commitment to quality is reflected in its industry recognition: it is the only property management company of its scale to be rated in the Top 1% by Comparent. Additionally, nearly 95% of U.S.-based local operating partners are Airbnb Superhosts, VRBO Premier Partners, or both.

About Roofstock
Roofstock’s mission is to power the residential investment ecosystem for the benefit of all. The company’s award-winning, tech-enabled end-to-end platform helps investors buy, sell and manage single-family rental properties in over 40 markets around the U.S. Founded in 2015, Roofstock is backed by a blue-chip roster of investors including Khosla Ventures, Bain Capital Ventures, QED, Lightspeed Venture Partners, Canvas Ventures, Invesco and SoftBank Vision Fund 2. Roofstock has facilitated more than $9 billion in buy and sell-side transactions on its platform to date, manages 18,000 rental homes through its Mynd affiliate, and provides asset management software for over 300,000 landlords owning nearly 1 million units through its affiliate Stessa.

About Vacasa
Vacasa is the leading vacation rental management platform in North America, transforming the vacation rental experience by integrating purpose-built technology with expert local and national teams. Homeowners enjoy earning significant incremental income on one of their most valuable assets, delivered by the company’s unmatched technology that is designed to adjust rates in real time to maximize revenue. Guests can relax comfortably in thousands of Vacasa homes in hundreds of destinations across the United States, and in Belize, Canada, Costa Rica, and Mexico, knowing that 24/7 support is just a phone call away. In addition to enabling guests to search, discover and book its properties on Vacasa.com and the Vacasa Guest App, Vacasa provides valuable, professionally managed inventory to top channel partners, including Airbnb, Booking.com and Vrbo."


RE: Vacasa being bought out?




Purely as a renter I got turned off from Vacasa (formerly Hatteras Realty) several years ago when reporting a maintenance issue had me talking to someone in Oregon. We have been very happy with Midgett the last three years. Was just curious about what this might have for the local scene.



RE: Vacasa being bought out?




I'm guessing it would depend on if they can find a buyer or buyers who want to be a franchisee and try to overcome the disruptions and competition in the local market. And the economy.
Or maybe they will sell an office or offices in certain areas and concentrate their focus instead of being spread out up and down the OBX.
Or maybe the whole deal falls through. The lawyers are circling. See below.
________________

www.businesswire.com/news/home/20250106083433/en/VACASA-INVESTOR-ALERT-by-the-Former-Attorney-General-of-Louisiana-Kahn-Swick-Foti-LLC-Investigates-Adequacy-of-Price-and-Process-in-Proposed-Sale-of-Vacasa-Inc.-VCSA

"VACASA INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Vacasa, Inc. - VCSA

January 06, 2025 05:47 PM Eastern Standard Time

NEW ORLEANS(BUSINESS WIRE)Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Vacasa, Inc. (NasdaqGS: VCSA) to Casago. Under the terms of the proposed transaction, shareholders of Vacasa will receive $5.02 in cash for each share of Vacasa that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit Click to follow link... to learn more."


RE: Vacasa being bought out?




What if we could crowd source a means for Super Wings to purchase one of the new franchises? It's a win-win! Free hermit crabs with every new check in!


RE: Vacasa being bought out?




No thanks, I'm on a diet. My wife made banana bread this morning and then only nibbles on it. She weighs 104 and thinks a loaf of the stuff should last 2 weeks.

She frequently says things such as, "Where's that bag of chips? I just opened it last Friday."
She will eat one Hershey Kiss in the evening before bed. I show her where the bag says, "Serving Size = 1 bag." and it makes no difference.

Meanwhile, can you imagine being an early VACASA investor and being sort of promised as much as $5.02 per share?

On May 1, 2021 the stock closed at $198.00.




RE: Vacasa being bought out?




Run.
Casaga is simply a rebranded Vacasa. As others above have stated it is the same players from Vacasa in a newer format. Vacasa has been a disaster for owners that I know who were absorbed from their purchases of Hatteras Realty and Outer Beaches Realty on hatteras Island.
From an owners' perspective there is absolutely no quality control on the cleaning and no continuity of damage being reported so when the owner finally finds out something is broken due to the total inattention there is no way to find out who is responsible and the owner is stuck with everything.
We watched our neighbors house (4 bedroom house 2 baths 2 levels) get "cleaned" by one person in 24 minutes and that included changing the sheets on the beds. They never ran a vacuum in that trip .

We never saw the same cleaner at the house for the 4 weeks we were down and the hot tub cleaner simply gravity vacuumed the sand out refilled the tub then simply shocked the tub and we never once saw a midweek cleaning or chem check. They left Vacasa as soon as the lease agreement was up. Many other owners have left them as well.


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