Leading vacation rental management platform
enhances its suite of custom technology offerings focused on
elevating vacation rental owner and guest experiences across its
portfolio of 30,000+ homes
Vacasa, the leading vacation rental management platform in North
America, today announced the release of its homeowner app
connecting homeowners with insights into the management, care and
performance of their vacation rental home. The Vacasa Homeowner app
is a key addition to Vacasa’s suite of technologies to
professionalize the vacation rental experience for homeowners and
guests, and drive efficiency in home care operations.
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The Vacasa Homeowner app, available via
the App Store and Google Play, helps homeowners stay more connected
to their vacation rental with a user-friendly, mobile interface.
(Photo: Business Wire)
“The number-one requested product from our homeowners was a
mobile app to monitor the management and performance of their home.
We built our Vacasa Homeowner app based on direct feedback and
input from our customers, simplifying their ownership experience
and providing greater peace of mind around the management of their
homes,” said Mike Xenakis, Chief Product Officer of Vacasa. “This
is a great example of how our product team of nearly 200 data
scientists, engineers, product managers, and designers help Vacasa
provide custom, industry-leading tools for our homeowners that few
other vacation rental management companies can offer.”
Founded in 2009, Vacasa has developed its own technology
ecosystem purpose-built to elevate the vacation rental experience
for homeowners. From patented technologies like its homecare
scheduler algorithms, to leading yield management systems for
optimizing homeowner revenue, Vacasa technologies address the
specific needs of vacation rental homeowners, guests, and its
employees.
“At our core, Vacasa is a technology company focused on
improving our homeowners’ experience, making our guests’ vacations
more enjoyable, and increasing operational efficiencies,” said Matt
Roberts, CEO of Vacasa. “Looking ahead, we plan to triple our
investment in advancing our end-to-end technology platform through
the cash proceeds from our planned combination with TPG Pace
Solutions.”
Simplifying the vacation rental ownership experience
The Vacasa Homeowner app helps homeowners stay more connected to
their vacation rental with a user-friendly, mobile interface. With
key functionality like a revenue performance dashboard, owner hold
management tools, booking calendar views, real-time push
notifications for bookings, and facilitating easy customer support,
Vacasa offers homeowners greater transparency into the performance
of their homes, even if they live thousands of miles away.
The app joins a collection of innovations developed to simplify
and enhance the vacation rental owner experience. Powering
homeowner revenue performance, Vacasa’s proprietary yield
management system leverages pricing algorithms, proprietary pricing
data and artificial-intelligence modeling to optimize pricing and
drive greater revenue for homeowners. This system suggests unique
rates for over 30,000 properties for the upcoming 540 days,
totalling around 15 million suggested room-night prices.
Vacasa maintains an extensive distribution network for its
listings of more than 100 booking sites, including Airbnb,
Booking.com, and Vrbo, while driving more than 30% of its bookings
on Vacasa.com and the Vacasa guest app. In addition, Vacasa’s
proprietary universal channel management system instantly shares
listing details with appropriate booking sites, seamlessly pushing
any needed updates to listings or pricing changes.
Expanding the Vacasa Technology Ecosystem
Beyond the homeowner experience, Vacasa’s suite of technologies
helps enhance the guest experience, and increase efficiency in
vacation rental home operations.
Bringing the vacation rental booking and in-home experience
together, the Vacasa guest app allows guests to book a stay,
provides all the information they need about their home – including
its location, door codes and access instructions – and offers
convenient customer service channels.
When it comes to home operations, vacation rentals present
unique challenges over traditional accommodations. For instance,
while the distance between hotel rooms is often just a few feet,
vacation rentals in the same destination can be located miles
apart.
To address this, the Vacasa Field App provides local operations
teams with real-time information and updates on home maintenance
tickets, allowing them to schedule and prioritize work effectively.
In addition, Vacasa developed its HomeCare Hub, including a
patented scheduler algorithm that optimizes clean scheduling across
geographic regions. The algorithm leverages hundreds of thousands
of data points on a daily basis to power efficiency, including:
drive time, housekeeper tiering and availability, home size,
specific home preferences, and a machine learning model that
calculates the predicted clean time for each home.
Vacasa’s HomeCare Hub constantly optimizes a two-week forward
view of all housekeeping job assignments, adjusting and reassigning
more than 15,000 daily housekeeping schedules over that time
period, and dispatching more than 4,000 housekeepers each day.
Through September of 2021, Vacasa’s technology has already
facilitated more than 921,000 home cleans for both guest and
homeowner stays, which is more than 32% higher than its total for
2020.
The Vacasa Homeowner App is a native app available for Vacasa
homeowners to download in the App Store for iPhones, and Google
Play for Android devices.
About Vacasa
Vacasa is the leading vacation rental management platform in
North America, transforming the vacation rental experience by
integrating purpose-built technology with expert local and national
teams. Homeowners enjoy earning significant incremental income on
one of their most valuable assets, delivered by the company’s
unmatched technology that adjusts rates in real time to maximize
revenue. Guests can relax comfortably in Vacasa’s 30,000+ homes
across more than 400 destinations in North America, Belize and
Costa Rica, knowing that 24/7 support is just a phone call away. In
addition to enabling guests to search, discover and book its
properties on Vacasa.com and the Vacasa guest app, Vacasa provides
valuable, professionally managed inventory to top channel partners,
including Airbnb, Booking.com and Vrbo. In Summer 2021, Vacasa
entered into an agreement to become a publicly traded company
through a business combination with TPG Pace Solutions (NYSE: TPGS;
“TPGS”), a special purpose acquisition company (“SPAC”). Interested
parties should refer to the registration statement on Form S-4
filed by Vacasa, Inc. with the U.S. Securities and Exchange
Commission for important information regarding TPG Pace Solutions,
Vacasa and the proposed business combination.
For more information, visit https://www.vacasa.com/press.
Additional Information and Where to Find It
This press release is being made in connection with a proposed
business combination involving Vacasa and TPGS. In connection with
the proposed transaction, Vacasa, Inc. (“NewCo”) has filed with the
SEC a registration statement on Form S-4 that includes a
preliminary proxy statement for the shareholders of TPGS, which
also constitutes a preliminary prospectus of NewCo. TPGS urges
investors, shareholders and other interested persons to read the
preliminary proxy statement/prospectus as well as other documents
filed with the SEC (including, when available, the definitive proxy
statement/prospectus) because these documents will contain
important information about TPGS, Vacasa, NewCo and the business
combination. After the registration statement is declared
effective, the definitive proxy statement/prospectus to be included
in the registration statement will be mailed to shareholders of
TPGS as of a record date to be established for voting on the
proposed business combination. Shareholders will also be able to
obtain a copy of the proxy statement/prospectus, without charge, by
directing a request to: TPG Pace Solutions, 301 Commerce St., Suite
3300, Fort Worth, TX 76102. The preliminary proxy
statement/prospectus and, once available, the definitive proxy
statement/prospectus, can also be obtained, without charge, at the
SEC’s website (www.sec.gov).
Participants in Solicitation
TPGS, NewCo, Vacasa and their respective directors and executive
officers may be deemed to be participants in the solicitation of
proxies from the shareholders of TPGS in connection with the
proposed business combination. Investors and security holders may
obtain more detailed information regarding the names, affiliations
and interests of certain of TPGS’s executive officers and directors
in the solicitation by reading TPGS’s initial public offering
prospectus, which was filed with the SEC on April 9, 2021, and the
proxy statement/prospectus and other relevant materials filed with
the SEC in connection with the business combination when they
become available. Other information concerning the interests of
participants in the solicitation, which may, in some cases, be
different than those of their shareholders generally, is set forth
in the proxy statement/prospectus relating to the business
combination. Shareholders, potential investors and other interested
persons should read the preliminary proxy statement/prospectus and,
once available, the definitive proxy statement/prospectus,
carefully before making any voting or investment decisions. Copies
of these documents may be obtained for free from the sources
indicated above.
Forward-Looking Statements
Certain statements made in this press release are
“forward-looking statements” within the meaning of the “safe
harbor” provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements may be identified by the use of
words such as “anticipate”, “believe”, “expect”, “estimate”,
“plan”, “outlook”, and “project” and other similar expressions that
predict or indicate future events or trends or that are not
statements of historical matters. These forward-looking statements
reflect the current analysis of existing information and are
subject to various risks and uncertainties. As a result, caution
must be exercised in relying on forward-looking statements. Due to
known and unknown risks, actual results may differ materially from
TPGS’s or Vacasa’s expectations or projections. The following
factors, among others, could cause actual results to differ
materially from those described in these forward-looking
statements: (i) the occurrence of any event, change or other
circumstances that could give rise to the termination of the
definitive agreement for the business combination between TPGS and
Vacasa (the “Business Combination Agreement”); (ii) the ability of
the combined company to meet listing standards following the
transaction and in connection with the consummation thereof; (iii)
the inability to complete the transactions contemplated by the
Business Combination Agreement due to the failure to obtain
approval of the shareholders of TPGS or other reasons; (iv) the
failure to meet the minimum cash requirements of the Business
Combination Agreement due to TPGS shareholders redemptions and one
or more defaults by the investors in the private placement that is
being undertaken in connection with the business combination, and
failing to obtain replacement financing; (v) costs related to the
proposed transaction; (vi) changes in applicable laws or
regulations; (vii) the ability of the combined company to meet its
financial and strategic goals, due to, among other things,
competition, the ability of the combined company to pursue a growth
strategy and manage growth profitability; (viii) the possibility
that the combined company may be adversely affected by other
economic, business, and/or competitive factors; (ix) the continuing
or new effects of the COVID-19 pandemic on TPGS and Vacasa and
their ability to consummate the transaction; and (x) other risks
and uncertainties described herein, as well as those risks and
uncertainties discussed from time to time in other reports and
other public filings with the SEC by TPGS and NewCo.
Additional information concerning these and other factors that
may impact TPGS’s and Vacasa’s expectations and projections can be
found in TPGS’s periodic filings with the SEC, in the preliminary
proxy statement/prospectus included in the registration statement
on Form S-4 filed with the SEC by NewCo., and in the definitive
proxy statement/prospectus when available. TPGS’s and NewCo’s SEC
filings are available publicly on the SEC's website at
www.sec.gov.
The foregoing list of factors is not exclusive. Readers are
cautioned not to place undue reliance upon any forward-looking
statements, which speak only as of the date made. Neither TPGS nor
Vacasa undertakes or accepts any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statements to reflect any change in its expectations or any change
in events, conditions or circumstances on which any such statement
is based, subject to applicable law.
No Offer or Solicitation
This press release does not constitute a solicitation of a
proxy, consent or authorization with respect to any securities or
in respect of the proposed business combination. This press release
also does not constitute an offer to sell or the solicitation of an
offer to buy securities, nor will there be any sale of securities in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
will be made except by means of a prospectus meeting the
requirements of Securities Act of 1933, as amended, or an exemption
therefrom.
No Assurances
There can be no assurance that the transactions described herein
will be completed, nor can there be any assurance, if such
transactions are completed, that the potential benefits of
combining the companies will be realized. The description of the
transactions contained herein is only a summary and is qualified in
its entirety by reference to the definitive agreements relating to
the transactions, copies of which have been filed as exhibits to
the Current Report on Form 8-K filed by TPGS with the SEC on August
3, 2021.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211102005432/en/
Adam Pedowitz adam.pedowitz@vacasa.com
Grafico Azioni TPG Pace Solutions (NYSE:TPGS)
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Da Nov 2024 a Dic 2024
Grafico Azioni TPG Pace Solutions (NYSE:TPGS)
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