Vacasa and TPW vacation rental companies partner on deal involving 87 homes in southwestern Vermont
BENNINGTON >> About 87 homes in southern Vermont are now being managed by Vacasa for short-term vacation rentals as part of a partnership with TPW Vacation Rentals of Bondville.
TPW manages 211 properties in the larger New England region and Vacasa is based out of Portland, Ore. Vacasa will assume management over residences in Killington, Stratton, Mount Snow and Okemo. The partnership will provide homeowners with additional revenue during offseason with proprietary yield management and marketing technology systems that the company says are not available elsewhere in the market.
TPW's parcels can also be found in locations such as Manchester, Bennington, Stratton, Londonderry, Winhall and Dover.
The partnership deal began in December when TPW CEO Paul Carroccio inquired about providing additional revenue to homeowners. Vacasa has 11 field employees in Vermont managing the rental properties and 917 local field employees company-wide.
"We endeavor to provide TPW clients with the best customized service possible, and we feel confident that our vacation rental customers can continue to expect the same and more from Vacasa," Carroccio said in a release.
Instead of increasing revenue seasonally, as TPW traditionally does and will continue to do, Vacasa will frequently reprice rentals depending on events happening on the weekend or other impacting factors all year round.
"Our yield optimization algorithm was developed in-house and no one has that technology. We'll reprice the homes up to four times a day depending on weather and events we'll raise prices, and conversely, if there's no demand in the area, we'll lower the prices," Kalli Bean, Vacasa public relations manager said. "Not many players in the industry are using this technology to increase revenue for homeowners in the county. You usually see more revenue with us than anyone else."
The goal is to bring people places they wouldn't normally go offseason, but also encourage economic development in the community.
"Housekeepers can grow in a national company and there's opportunity for advancement for managers and general managers in the housekeeping rank. It'll have additional folks visiting communities and spending time in the shops and restaurants." Zachary Monahan, Vacasa's director of integration, said. "The biggest difference is our rate management program. Vacasa is focused on short-term rental management and now can optimize management of these homes through a focused marketing and yield program."
"Although we're a national company, we're a lot of little local companies by sponsoring local events and donating to local organizations," Bean said. "Whatever our employees in the area are passionate about, we want a presence before the acquisition to increase our footprint in Vermont, and to be a beneficial player in the community."
For more information, visit Vacasa's website.
— Makayla-Courtney McGeeney can be reached at (802)-447-7567, ext. 118.
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