Vacasa to Acquire Wyndham Vacation Rentals for $162 Million

Skift | July 30, 2019

Vacasa, the vacation rental management service, will buy Wyndham Vacation Rentalsfrom Wyndham Destinations, the companies said Tuesday.Vacasa will pay $45 million in cash at closing and will give Wyndham Destinations up to $30 million of equity interest in the newly formed company. Vacasa will pay the remaining balance in either seller financing or cash, for a total of $162 million in value.The deal is a milestone for the Portland, Oregon-based Vacasa and its founder and CEO Eric Breon. It nearly doubles the startups inventory to more than 23,000 homes. The transaction makes Vacasa the largest property management service provider in North America’s vacation rental sector by revenue, though Vacasa also manages properties in some locations outside of North America.

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Travel video about destination Rio Negro in South America. PLANET TERRA takes you to each corner of the planet and helps you to discover the world with fascinating destinations, beautiful locations, great sound and colourful scenery.

Spotlight

Travel video about destination Rio Negro in South America. PLANET TERRA takes you to each corner of the planet and helps you to discover the world with fascinating destinations, beautiful locations, great sound and colourful scenery.

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DESTINATION AND TOURISM,INDUSTRY OUTLOOK

Travel Advisors See Strong Demand for Luxury Trips This Summer

Internova Travel Group | July 05, 2022

Dream destinations, multigenerational vacations and a desire for unique experiences are some of the trends driving luxury travel for the summer in 2022, according to travel advisors from the Global Travel Collection (GTC). The United Kingdom tops the list of international destinations booked by GTC travel advisors, a spot it's held for the last five years. Other places in the top 15 include Italy, France, Israel, Spain, Switzerland, Mexico, the United Arab Emirates, Greece and Germany, followed by South Africa, Ireland, Australia, the Dominican Republic and Portugal. Luxury travel advisors with GTC brands report that their clients are excited to travel again, with some booking multiple trips. And they're willing to spend more to get the vacation experience they want. But that high demand is driving up prices, and hotels are stretched thin due to staffing shortages, limiting availability. "Europe is in high demand this summer, with destinations like Greece, Spain, Portugal and Italy the most booked, My luxury travel clients do a combination of experiences, like cooking classes, hiking/biking excursions and immersive activities connecting them to the place, as well as making sure they have dining reservations at the top spots." -Tiffany Bowne, with All Star Travel Group, a brand within Global Travel Collection. Carolyn Consalvo, with Global Travel Collection's Andrew Harper, remarked that beach vacations and Alaska cruises are very popular. "I would say most people are looking for destinations where they can be outdoors a majority of the time," she said. "Bucket lists are becoming to-do lists,Many of my clients want to travel to their dream locations," with destinations as varied as the Maldives, southern Italy's Amalfi coast, Australia and Hawaii. -Shayna Mizrahi, with In The Know Experiences, also part of Global Travel Collection Remote work has also opened up new possibilities, she added. "The demographics of my most active luxury travelers today are young professionals, who now can work remotely from anywhere and are choosing to combine this with unique luxury trips. Luxury travelers are eager to make up for the time they couldn't spend seeing the world with friends and family over the past two years. I'm doing multiple multigenerational trips — grandparents not wanting to miss any more time and taking their family on an unforgettable trip of two to three weeks, said Diana Castillo, with Protravel International of Global Travel Collection. Laura Triebe, also with Andrew Harper, is also handling more requests for multigenerational vacations and bucket-list destinations like Hawaii and Africa. I think the client that calls now is more serious about traveling and is willing to adjust to an ever-changing world. With rising prices and limited availability in some vacation spots, luxury advisors are putting their skills and experience to the test. Clients are willing to pay to get what they want," and that includes upgrading their accommodations, said Michelle Summerville, with In The Know Experiences. More people want to travel in the best way possible, better than they have in the past," she said. The greatest challenge in selling luxury travel right now is the severely limited space and availability for flights and hotel rooms in the most desirable destinations, said Leslie Tillem, with Tzell Travel Group of Global Travel Collection. We are seeing extraordinary demand in luxury travel across the spectrum, leading to a lack of availability at any price. Bridget Kapinus, with Andrew Harper, concurs. Demand is high for last-minute travel. She's also contending with factors like a scarcity of hotel rooms and higher costs for flights. Travelers who had never used an advisor before started to seek them out to help navigate COVID-19 entry and testing requirements. Now, they're sold on the value of a travel professional. "Your time is precious, and you want the assistance of an expert to help you plan your vacation, said Angie Licea, President of the Global Travel Collection. Our luxury travel advisors have years of experience putting together trips for their clients, as well as firsthand knowledge of the world's most popular destinations. They stay on top of the trends in luxury travel and deliver concierge-level service. Plus, travelers have the comfort of knowing that there's a human being they can call whenever they have a question or concern. My travels throughout these past 18 months have been our best marketing,said Castillo, of Protravel International. "We have shown our clientele that travel can be pleasant and enjoyable and that we can help set up all the requirements they may need in order to make their vacation seamless. Mizrahi, with In The Know Experiences, has also been sharing details about her travels, something her clients appreciate immensely. Her firsthand experience "is something that no Google search or website can provide. About Global Travel Collection Global Travel Collection (GTC), a division of Internova Travel Group, is the world's largest collection of international luxury travel agencies, including the well-established networks of Protravel International, Tzell Travel Group, and Colletts Travel, as well as Andrew Harper, In the Know Experiences, All Star Travel Group and R. Crusoe & Son. GTC advisors and agencies are industry leaders in providing premium travel services to leisure travelers, corporate executives and the entertainment industry. The combined global reach and leverage translates into value, recognition, and preferential treatment for its world travelers. About Internova Travel Group Internova Travel Group is one of the largest travel services companies in the world with a collection of leading brands delivering high-touch, personal travel expertise to leisure and corporate clients. Internova manages leisure, business and franchise firms through a portfolio of distinctive divisions. Internova represents more than 70,000 travel advisors in over 6,000 company-owned and affiliated locations predominantly in the United States, Canada and the United Kingdom, with a presence in more than 80 countries.

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TRAVEL TECHNOLOGY

HUAWEI INVESTS $100M IN STARTUPS, MAKES FIRST TRAVEL MOVE IN MIDDLE EAST

Huawei | August 26, 2021

As part of its move away from hardware, Huawei is scaling up its cloud services and startup support in Asia Pacific and, while travel and hospitality is not top of mind yet, its move into this vertical seems inevitable with the expansion of its headquarters in Singapore and a recent first move in the Middle East. Huawei, facing pressure in Western markets and a slowdown in consumer business amid U.S. sanctions, has been steadily moving its focus away from manufacturing to become a tech and software company that believes “deeply in the power of digital technology to provide fresh solutions to the problems the world is facing right now. "We will keep on innovating to help build a low-carbon, intelligent world,” said Eric Xu, Huawei’s Rotating Chairman, at the release of business results for the first half earlier this month. In the Middle East, travel marketplace Wego is the first travel player to sign a partnership with Huawei’s Petal Search to integrate the travel app into Huawei smartphones. “The world of travel and hospitality has entered a new era of m-commerce, as more than 60% of travellers rely entirely on smartphone applications when making their travel plans. Pre-installing the Wego app into smartphones is part of our continuous efforts to enable these travellers to get the best deals and options when shopping for their holiday,” says Mamoun Hmedan, Wego managing director for MENA and India. From May, all Huawei smartphones EMUI 5 and above bundled with the Wego app will be made available across stores in the United Arab Emirates, Saudi Arabia, Oman, Bahrain, Kuwait, Iraq, Egypt, Lebanon, Jordan, Morocco, Algeria, Tunisia and Pakistan. “Over the last few years, we have been noticing a significant rise in the number of Wego users on Huawei devices. Interestingly, it has also been noted that Huawei smartphone users tend to spend more on travel than the average Android user,” says Hmedan. In the startup space, Huawei announced its plan to invest $100 million in the ecosystem, with the funds going towards its Spark Program in the Asia Pacific region over the next three years. Singapore, Hong Kong, Malaysia and Thailand are the priority markets and at the Huawei Cloud Spark Founders Summit in July, it announced the programme would develop four additional startup hubs – Indonesia, the Philippines, Sri Lanka, and Vietnam. The overarching aim is to recruit a total of 1,000 startups into the Spark accelerator program and shaping 100 of them into scaleups. Speaking at the Summit, Huawei senior vice president and board member Catherine Chen said 34 years ago, Huawei was a startup with just $5,000 of registered capital. “Recently, we have been thinking: How can we leverage our experience and resources to help more startups address their challenges? Doing so would allow them to seize the opportunities posed by digital transformation, achieve business success, and develop more innovative products and solutions for the world.” Alexis Lee, Spark program manager at Huawei Cloud and AI Asia Pacific, who joined the team in January, told WebInTravel that 40 startups came through in the first cohort and about eight to 10 were identified to enter the “Spark Fire” programme, an accelerator. Zhang Ping’an, senior vice president of Huawei, CEO of Huawei Cloud BU, and president of Huawei Consumer Cloud Service, announced at the Summit that “we have already helped four of these startups launch new products and completely transform their businesses, while helping eight enter new markets”. It is currently in the midst of selecting the second cohort – entries closed last week. Lee, who previously worked in the investor space and was at Grab for two years, said how Huawei differentiated from other accelerators in Singapore is in its business development strength. “We introduce startups to clients, obviously in China, as well as global. China is obviously the most attractive market for scale up.” It does not take equity, rather it invests in kind, offering cloud infrastructure support in credits as well as a strong mentoring and investor network. “The programme is about building up the startup community, and sharing our resources. We have the tech know-how and the client network to help startups scale.” Areas of interest include anything to do with AI, ML or 5G and industry verticals include fintech, logistics, smart cities, ad tech and insurance tech. Huawei says its global HMS ecosystem is the world’s third largest mobile app ecosystem, serving 4.5 million developers in over 170 countries and regions. The goal is to cultivate over 100,000 HMS cloud-native developers in Asia Pacific over three years. Huawei Cloud is second in China and fifth in the global IaaS market.

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BUSINESS TRAVEL

Uplift Adds New Credit Line of $68 Million for Travel Payments Service

Uplift | January 13, 2021

Uplift has finished another credit line of $68 million for its travel payments service. Financing for the purchase currently pay-later brand was given by Atalaya Capital Management. Travel is as of now returning, as per California-based Uplift, with the organization anticipating fast development amid pent-up demand for booking travel for the summer and autumn. Uplift has now brought about $695 million up in value and obligation including a $250 million credit line in December 2019, which came ahead top of $123 million in subsidizing in January of the very year. Uplift affirmed the new financing on LinkedIn and in a Crunchbase meet, with Brian Barth, CEO of Uplift saying the organization intends to move past travel in 2020. Uplift hopes to surpass $1 billion in exchanges throughout the next 18 months. Different organizations offering a comparative assistance including Fly Now Pay Later are likewise foreseeing the pent-up demand. The London-based organization landed $47 million in Series A financing in May and is getting ready for a $135 million subsidizing bundle in the second half of 2021 as indicated by Jasper Dykes, its chief executive. He adds that the Uplift credit line shows the proceeded with obligation to the area and says Fly Now Pay Later, which as of late launched its buyer beta in the U.S., has seen "ferocious appetite for the product."

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