VTrips Expands Portfolio with Business Acquisitions in Texas and Maryland
United States: Florida-based vacation rental management company VTrips has expanded its portfolio in Maryland and Texas with the acquisition of Taylor-Made Deep Creek Vacation Rentals and Ryson Vacation Rentals.
The combined purchases add 701 additional properties to VTrips’ portfolio and 263 team members to the company’s workforce.
VTrips CEO Steve Milo has confirmed that the Taylor-Made Deep Creek Vacation Rentals and Ryson Vacation Rentals brands will be retained. Additionally, Jodi Taylor Refosco, Chad Taylor and Joe Refosco of Taylor-Made will become shareholders of VTrips.
Liz Overton, Managing Director of Ryson, said, “We are thrilled to be the newest members of the VTrips family. Ryson Vacation Rentals has been a leader in our region for many years and we believe our new partnership with VTrips and the VTrips management team will continue to allow us to grow in a positive direction.
The addition of Ryson and Taylor-Made follows recent acquisitions of Resort Collections by VTrips in Panama City Beach and Distinctive Beach Rentals in Fort Myers Beach [both Florida], as good as Management of resort properties in Pigeon Forge, Tennessee.
Milo said, “VTrips believes that employees are the lifeblood of these businesses, and we do everything we can to create a positive environment for them. Vendors have dedicated their lives to creating great memories for their guests and employees, and they wanted a buyer who shares their same values. »
To date, VTrips has completed more than 20 acquisitions as part of the company’s strategic growth plan and manages 3,000 exclusive vacation rental properties in traditional resort destinations ranging from Florida to Hawaii.
In August, it was announced that the company had received a “significant” minority investment from private investment firm Hudson Hill Capital. [HHC], the entire capital being financed on the balance sheet.
At the time, VTrips said it planned to leverage the investment to accelerate the company’s acquisition strategy and further strengthen its technology offering. Additionally, it plans to deploy more than $250 million in the near term to acquire attractive vacation rental management companies that align with its growth strategy.
Speaking last year, Milo also told Skift that he plans to go public with VTrips in the future.