Vacasa, the largest vacation rental platform in North America, has a emerged from a dark period with good news – an USD108 million fundraising. Financing was led by existing investor Silver Lake – which recently invested in both Airbnb and Expedia.

“Like many companies in the travel sector, Vacasa experienced challenges as the COVID-19 pandemic took hold. We are incredibly fortunate for the continued support of our investors,” said Matt Roberts, CEO of Vacasa.

“As we begin to emerge from this global crisis with an infusion of capital, we are in a very strong financial position to capture consumer demand.

“We believe there will be a preference shift from hotels to professionally managed vacation rentals as privacy and cleanliness rise to be top priorities for travelers.”

It marks a new chapter for Vacasa. Founder and former CEO Eric Breon stepped aside in February, bookings dived during the peak of COVID-19 (but are now picking up) and an unspecified number of staff were laid off.

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