VTrips plans to invest more than $250 million in acquiring vacation rental management companies in the near future.
The company says it will leverage funds received via a “significant minority equity investment” from Hudson Hill Capital to speed up its acquisition strategy.
In a statement, the Florida-based vacation rental management specialist says it also plans to boost its technology offering.
Steve Milo, founder and CEO of VTrips, says: “Our new investors have placed a significant vote of confidence in our vision, our people and our technology that will further enhance the customer experience. This investment, combined with Hudson Hill’s track record of scaling businesses like ours will help us extend our market leadership through a carefully designed acquisition strategy that will further build our category defining technology and service offering.”
He adds that the investment is “another key milestone for the company” with the booming vacation rental resort market in North America and demand exceeding supply.
VTrips already has acquired three companies in 2021 including Tennessee-based Resort Property Management and Distinctive Vacation Rentals and Resort Collection, both based in Florida.
Milo has said recently that he expects further consolidation in the vacation rental space.
Of the investment, Eric Rosen, managing partner of Hudson Hill, says:
“Steve has built VTrips into the leading independent vacation rental management platform and one of only a select number of operators with a multi-state footprint. Perhaps more notable about VTrips is its proven ability to operate effectively and profitably over multiple decades.”