United States: Property management company VTrips is expanding in Florida and Tennessee with strategic acquisitions of Resort Collection, Distinctive Beach Rentals and Resort Property Management.
The transactions strengthen VTrips’ presence in both states and expand the company’s portfolio to more than 3,000 exclusive homes and condominiums. Consultancy firm C2G served as a transaction consultant to VTrips.
Located in Ponte Vedra, Florida, VTrips will take over the management of the 800 properties operated by Resort Collection, which is based in popular vacation destination Panama City Beach in Northwest Florida. It follows recent purchases from Distinctive Beach Rentals in Fort Myers Beach, also Florida, and Resort Property Management in Pigeon Forge, Tennessee.
It is believed that all employees of the acquired companies have been offered new contracts to stay by VTrips.
The company now manages more than 3,000 vacation rental properties in Florida, Tennessee, South Carolina, Hawaii and Mexico. VTrips properties are typically based in non-urban resort locations, particularly ocean and mountain recreation destinations.
Speaking to VRM Intel, VTrips Founder and CEO Steve Milo said the company is well positioned to “grow rapidly” in North America as a result of its latest deals, given its profitability without getting of venture capital financing. To date, VTrips has acquired at least 15 companies, as Milo revealed in a case study interview with Barcelona-based channel manager Rentals United.
VTrips was renamed from Vacation Rental Pros in 2018.