Investment summary
Founded in 2002 by CEO Steve Milo, VTrips is a vacation rental management (“VRM”) company that offers its property owner clients a full-service solution consisting of internet-based customer acquisition, as well as local market operations that service and maintain vacation properties. VTrips’ mission is to deliver a superior financial outcome and concierge-level experience to its property owners, while simultaneously delivering a better and differentiated vacation experience to travelers. Today, VTrips operates in five states and a dozen markets, with the majority of its rental units in the Southeast. Having completed over 20 acquisitions to date, the vision is to dominate the Southeast market by leveraging a hub-and-spoke M&A strategy that will enable the company to aggregate market share and leverage local market operating infrastructure in 20 to 30 vacation markets.
Why we partnered
To back an entrepreneur not seeking to sell any shares and assist him in professionalizing and scaling his business
The scarcity value of the asset – VTrips represents the 2nd largest VRM operator in the US, one of a select group with a multi-state footprint
To accelerate a proven hub-and-spoke M&A strategy in an industry with over 10,000 acquisition targets
To unlock benefits to scale on internet-based customer acquisition and local market operations, which leads to increasing returns on capital as the business grows
To participate in the market tailwinds supported by the continued share gains of the vacation rental inventory category within travel & hospitality
To add value to an ongoing digital transformation that will lead to further optimization around pricing, utilization, and customer acquisition / retention
