MARYLAND, USA – January 15, 2022 – Vintory’s Mergers and Acquisitions Group, experts in vacation rental industry negotiation and financial analysis, have successfully brokered the purchase of Starfish Luxury Vacation Rentals in Manzanita, Oregon to AvantStay. AvantStay’s acquisition of Starfish Luxury Vacation Rentals includes 36 units and 18 bedrooms in the Oregon Coast market. AvantStay brings a wealth of revenue management, operational expertise, and a track record of developing deep relationships with their homeowners, team and community partners.
Dylan Burgess and the Vintory Group began working with Starfish Luxury Vacation Rentals nearly a year prior to the Closing Date to guide Starfish through the acquisition process. “We helped Starfish create industry standard vacation rental agreements that were previously missing key commercial and legal language like assignability to ensure continuity of care for Starfish’s homeowners and minimized potential churn for AvantStay. This is a key point and one that should be emphasized. If you want to sell your company now or in the future, ensure your homeowner agreements are assignable,” said Dylan Burgess, Mergers and Acquisitions VP, Vintory.
Vintory’s Mergers and Acquisitions Group knew the sellers were looking to place the daily operations of the company in the hands of an experienced operator of luxury vacation rentals. Vintory represented the seller, Starfish Luxury Vacation Rentals and supported negotiations with AvantStay to develop a strong connection between the parties to reach a win-win deal for everyone involved.
Dylan and the Vintory team have worked together for months on end creating a deal that would be the best option for both parties. Geoff Kittell, of Starfish Vacation Rentals, says “Many thanks for [Vintory’s] help in brokering the deal!” Danña Kittell will take a role within AvantStay to maintain and grow the carefully curated portfolio of luxury inventory on the Oregon Coast. Danña said, “We have selected the premier luxury, short-term vacation rental company to scale the operation and take Starfish Vacation Rentals to the next level on the North Oregon Coast.” This includes a commitment to the local office to develop a laundry facility and assist with recruiting staff in a small market.
In addition to being laser focused on developing operational efficiencies that deliver the best value to homeowners, AvantStay Inc, is growing quickly. The expansion to the Oregon Coast represents a new market entry for them. They have made commitments to have a local presence by keeping staff in place in addition to resourcing the portfolio with technology for owners and guests, additional cross coverage for after hours and emergency contact, as well as increased distribution that will lead to increased bookings.
About Vintory M&A Consulting Solutions
The Vintory M&A Group are experts in deal negotiations and financial analysis in the vacation rental industry. Vintory offers confidential consulting services to buyers looking to grow their business and helps to identify growth opportunities they may not have thought about or had access to. Vintory helps sellers achieve the exit strategy they are looking for with a buyer that is best positioned for a successful transition. Vintory works directly with their buyers and sellers on valuations, outreach, timing, contracting, identifying risks and more, from inception to closing.
If you’re looking to grow your business, or execute your exit strategy, visit https://vintory.com/ma-consulting-and-solutions/ to learn more.
About Starfish Vacation Rentals
Starfish Vacation Rentals provides concierge-level services and delivers a world-class experience for their guests. They offer the most luxurious properties on the Northern Oregon Coast coupled with the most distinctive amenities that you would find at a boutique hotel. Danña Kittell, owner of Starfish Vacation Rentals, and Geoff Kittell, have spent years creating a vacation experience that guests will never forget.
AvantStay is the premier next generation hospitality platform redefining the way in which people travel, transact, and invest. AvantStay delivers a highly curated experience customized to guests’ needs, using a proprietary tech platform to power bookings, seamlessly operationalize in-field and remote management, and activate authentic and elevated consumer touch points. AvantStay currently operates in over 100 cities, with a drive-to market approach, including 1,000+ premier properties across their diversified portfolio, and an AUM of more than $2B. In 2019, AvantStay became one of the initial twelve partners of Homes & Villas by Marriott International, and currently offers distribution on more than 60 OTAs. AvantStay was founded by experienced real estate and technology entrepreneurs Sean Breuner and Reuben Doetsch.