VTtrips acquires Carolina Retreats, Silver Sands, Miss Kitty’s and Tybee Vacation Rentals
VTrips Has recently announced the acquisition of four vacation rental management companies, expanding its portfolio to 7,000 properties and 1,000 employees nationwide.
Obtained VTrips Carolina Retreat Located in Topsail, North Carolina, there are 435 properties. Silver sand vacation rental Located in Port Alansus, Texas, there are 320 properties. Thai bee vacation rental Located near Savannah, Georgia, there are 300 properties.When Miss Kitty Fishing Getaway Located in Rockport, Texas, there are 150 properties.
Founder of Carolina Retreat Vacation Rental Management Association (VRMA) has provided the following statement to the company’s real estate owners: “As of June 1, Carolina Retreats is affiliated with VTrips Holdings, a Florida-based vacation rental management company led by my best friend Steve Milo. Steve, Stuart (Puck, Vice President of Carolina Retreats) And COO), and back over a decade when Steve was my early mentor when I started in the vacation rental management industry. We were together on board the Vacation Rental Management Association (VRMA). There, it helped Steve bring back innovative ideas, improve homeowner profits and real estate care, and delight guests. “
Harrington retains full ownership of the hotel business, but also plays a business development role at VTrips.
According to Steve Milo, founder and CEO of VTrips, VTrips provided equal or better wages and benefits to all employees of Carolina Retreats, Tybee Vacation Microsystems, Silver Sands and Miss Kitty’s Fishing Getaways.
“VTrips believes that employees are the lifeline of these companies and we are doing everything we can to create a positive environment for our employees. Certain large domestic. As buyers operate like “open pit mines” in the industry, more and more sellers are looking for buyers who can hire all staff, protect their brand and heritage, and live proudly. “Community,” said Milo.
According to Miro, the recent acquisition came from the company’s operating profit and commercial bank debt. “Profitability is important, and VTrips remains the top leader in national vacation rental companies for EBITDA (interest, taxes, depreciation and revenue before amortization), year-over-year growth in EBITDA, and EBITDA margins on revenue. . “
Ben Edwards Weatherby consulting Advised Carolina Retreat, Thai Bee Vacation Rental, and Silver Sands to sell the company. “The involvement of Ben and the Weatherby Consulting team guarantees a professional process and allows us to move transactions at super-fast speeds,” says Milo. “I also know that Ben and his team personally scrutinize the company and make it more attractive.”
Jacobie Olin, RSPS, President C2G Advisor Represented Miss Kitty’s Fishing Getaway during the acquisition. “We were delighted to represent Dawn Huff at Miss Kitty’s Fishing Getaway through the acquisition. She is building a strong brand in Rockport and we are pleased that VTrips will lead the company to the future. This is a transaction. Throughout, it was a seamless and professional process that worked with the VTrips team, “Olin said.
“We are telling sellers that this is an option if certain large domestic buyers move to another state or country to change their mobile phone. Some sellers find this interesting. Whenever I meet a seller in person, I can share a lot of good stories, “Miro added. “Most sellers have devoted their lives to building heritage and creating great memories for guests and employees, and they want buyers who share the same values.”
According to Miro, VTrips can win the industry-leading competition in the North American resort vacation rental market.
“As a business-friendly Florida-based company that continues to be responsible for its founders and owners and supports the industry with advocacy and volunteering, VTrips is expanding rapidly, while other large companies are in leadership and equity turmoil. We are in a position to deal with this, “he said. .. Milo also Florida Professional Vacation Rental Union, Raised over $ 250,000 in the last two years. He is also a member of the VRMA Advocacy Commission, which has raised more than $ 470,000 so far in 2022.
“Some companies and CEOs are passionate about the future of the industry, and some are outside the industry concerned about quickly withdrawing from the industry before operational problems occur. “I’m a person,” said Miro, who once had a sleepy vacation rental industry that is changing rapidly. “With these changes, some vacation rental owners have decided to remove the tip from the table, and the company they choose to sell may be the biggest factor.”
These additions to the VTrips portfolio are the latest in a series of recent acquisitions, including: Southern Vacation Rental in Destin, FloridaWhen Taylor Deep Creek Vacation in Deep Creek, Maryland..