Vacasa is buying TurnKey Vacation Rentals

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A TurnKey-managed vacation rental property in Fort Lauderdale.
A TurnKey-managed vacation rental property in Fort Lauderdale.

Vacation rental management group Vacasa has agreed to acquire TurnKey Vacation Rentals for an undisclosed sum. 

Founded in 2012, TurnKey manages approximately 6,000 premium vacation rentals across more than 80 destinations in the U.S.

The deal will expand Vacasa's footprint into several "premier destination markets," including Los Angeles and Napa, Calif.; Asheville, Black Mountain and Holden Beach, N.C.; and Santa Fe, N.M.

"Our companies have a similar focus on delivering exceptional service to our homeowners and guests, and we are excited to do that together at a key juncture for the highly competitive vacation rental industry," said Vacasa CEO Matt Roberts in a statement. "The vacation rental sector continues to see significant gains in market share for accommodations."

Vacasa, which has offices in Portland, Ore., and Boise, Idaho, will continue to maintain TurnKey's headquarters in Austin, Texas.

Vacasa's expansion comes as the short-term vacation rental sector sees faster rebound trends than the traditional hospitality industry in the U.S.

Established in 2009, Vacasa has an existing vacation rental management portfolio of approximately 25,000 homes across North and Central America.

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