YOU MUST UNDERSTAND THAT THE ONLY WAY THIS WHOLE THING WORKS IS HAVING THE TECHNOLOGY PLATFORM THAT SUPPORTS IT . YOU HAVE TO FIGURE OUT HOW TO CREATE SCALABILITY AND SKILL EFFICIENCY .
– MATT ROBERTS , FORMER CEO
1.6 million , a 17 % increase YOY , and gross booking value per night sold was US $ 411 , up 13 % year-over-year .
For the full year , Vacasa most recently projected revenue between US $ 1.16 and US $ 1.18 billion and adjusted EBITDA to be between negative US $ 7 million and break even .
THE TAILWINDS Roberts believes Vacasa will continue to benefit from broader travel trends , including the “ work from anywhere ” movement and shifting preferences towards vacation rentals . “ We have lots of tailwinds , which were accelerated by a new trial when everything was locked up except vacation rentals . The trend has been our friend for a while now , and it ’ s not letting up .”
Roberts adds that the Vacasa platform fills a void and solves a pain point that should lead to growth . “ There are 5 million vacation homes in the U . S . alone , 20 million globally . With more than 35,000 units on our platform , we ’ re still small in the big picture of the market ,” he says , adding that about 20 % of its sales each month come from new renters .
Among their targets are existing property managers that have at least a certain base level of properties . “ Those companies cover about 350,000 properties ,” Roberts says . “ So , we work on that list and build relationships with the owners of those companies . And when they ’ re ready to sell , w . e ’ re there .”
Previously , it made bigger acquisiions to achieve critical mass . In March 2021 , it added 6,000 properties by acquiring TurnKey . In 2019 , it bought Wyndham Destinations ’ Vacation Rental unit . Additional deals include the Oasis Collection and Resort Lodging Company .