Vintory Orchestrates a Win-Win-Win Deal
Two vacation rental property management companies merge to establish a new Casago market.
FOR IMMEDIATE RELEASE
MARYLAND, USA – NOV 3, 2020 – The Vintory Mergers and Acquisitions team, a team of negotiation and financial analysis experts focused exclusively on the vacation rental industry, just assisted Casago to close two acquisitions in Snowshoe, West Virginia. The acquisition and then merger of Snowshoe Properties Management and Snowshoerealestate.com represent Casago’s expansion into a new market and blends together two local businesses that will maintain community ties along with local expertise.
“This is an exciting deal for us, as we were able to meet the needs of both of our sellers while providing a new opportunity and strong financial return for our clients and their investors,” said Dylan Burgess, Mergers and Acquisitions Consultant, Vintory. “This is an excellent example of understanding our clients’ strengths to identify new growth opportunities that compound their success for all parties involved.”
As a result of the transaction, Casago will now manage over 140 properties in Snowshoe, West Virginia, merging together two companies that are well known for their trusted relationships within the community and exceptional guest hospitality. The transaction is a win-win-win for each organization as both Snowshoe Properties Management and Snowshoerealestate.com also achieved the exit strategies they hoped for. Kip Darling of SnowshoeRealEstate.com will continue to oversee the newly merged Casago operation. Joining Casago allows him to scale the business as well as leverage Casago’s technology, while maintaining important community partnerships with guests, owners, employees, and contractors that have made both of these businesses successful.
With this acquisition, Vintory was able to engineer a simultaneous closing that accomplished the goals of both buyers and the sellers. Each seller had their own motivation for selling. Vintory was able to provide one seller with an exit strategy that allowed them a path for retirement, while providing the other seller an opportunity to maintain equity in their business and align themselves with a company that will help them navigate as the vacation rental marketplace continues to evolve.
Casago, in partnership with Kip and the local team, have begun integrating the businesses by taking high quality photos, 360° tours, optimizing pricing, creating consistency in protocols for COVID, and supporting guest services and reservations staffing 24 hours a day, 7 days a week ahead of this winter season. Laura Santmyer of Snowshoe Properties Management LLC is remaining on to ensure a successful transition. While Casago continues to grow organically in its existing markets, this opportunity allowed the business to leverage its existing infrastructure to compound profitability as well as diversify its portfolio into a new ski market in the MidAtlantic market from its core business in the Southwest and Mexico.
If you’re looking to grow your business, or execute your exit strategy, visit vintory.com/ma-consulting to learn more.