Vintory Closes Purchase of Destin Palms Vacations
Vintory helps Glass Casa diversify and grow 4x larger by successfully Acquiring Destin Palms Vacations
FOR IMMEDIATE RELEASE
MARYLAND, USA – MAY 11, 2021 – Vintory’s Mergers and Acquisitions Group, experts in vacation rental industry negotiation and financial analysis, have successfully brokered the purchase of Destin Palms Vacations in Miramar Beach, Florida to Glass Casa. Glass Casa’s acquisition of Destin Palms includes over 100 short term rental management contracts, 23 long-term contracts, the real estate business and Destin Palm’s construction company. Additionally, Glass Casa purchased the office building at the Majestic Sun that houses a strategically located operations office from which all business lines are managed. Glass Casa brings a wealth of yield management, additional booking channel integration for homeowners and guests and a track record of developing deep relationships with their homeowners and employees.
“There are so many companies buying and selling at the moment to take advantage of the growth of the vacation rental industry. Having conducted acquisitions and integrations previously, Glass Casa had a good understanding of their investment thesis and how they’ll be able to create value for the homeowners, the employees, the company and the community,” said Dylan Burgess, Mergers and Acquisitions VP, Vintory. “There is a great growth story here for any vacation rental management owner to learn from. Even with a strong brand presence and word-of-mouth marketing, no VRM can grow this quickly and diversify their existing portfolio without making this kind of investment. The Destin Palms Vacations team and homeowners couldn’t be in better hands with Randy and Kim Bacik, founders and owners of Glass Casa, who are directly investing in all aspects of the company.”
Vintory’s Mergers and Acquisitions Group knew that the sellers, Destin Palms Vacations, were looking for a specific buyer who was ready to fully invest in the operational assets they felt were at the core of providing excellent service to its homeowners. Vintory represented the buyer, Glass Casa, and supported negotiations on both sides of the transaction to develop a strong connection between the parties to reach a win-win deal for everyone involved.
“Dylan and the Vintory team have the relationships, expert knowledge and serviceability to bring this deal together in a way that upheld the core priorities and values of everyone involved, including our mutual commitment to ensuring our homeowners receive the best possible service and revenue management,” said Randy Bacik, Owner of Glass Casa. “We are excited to expand our portfolio and bring a rich history of managing vacation rentals in Florida. Investing in the local office and expanding our footprint in the area ensures we will continue to have staff onsite and ready to exceed homeowner and guest expectations.”
In addition to being laser focused on developing operational efficiencies that deliver the best value to homeowners, Glass Casa is expecting to fuel post acquisition inventory growth in the 30A and Destin markets by appealing to new property owners. Randy and Kim are currently focused on speaking with every Destin Palms Vacation homeowner to ensure their listings are optimized and their properties are in prime condition. Vintory and Glass Casa worked in close partnership to ensure a successful transition to capitalize on the upcoming busy season.
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 www.vintory.com/ma-consulting to learn more.
About Glass Casa
Glass Casa Vacation Rentals is family owned and operated and our family has been exclusively managing vacation rentals since 1995. The Company was founded by Kim and Randy Bacik on Sanibel and Captiva Islands Florida, where we spent many years honing and perfecting our customer experience skills. Kim and Randy continue to manage the day to day operations of Glass Casa and are hands-on owners. We are proud to say that many of our original staff are still working with us side by side today and we are growing at a rapid rate. Learn more about Glass Casa: www.glasscasa.com/glass-casa-services.asp