United States: VTrips has purchased Carolina Retreats, Silver Sands Vacation Rentals, Tybee Vacation Rentals and Miss Kitty’s Fishing Getaways.
The latest acquisitions will see VTrips add over 1,200 properties to its portfolio, bringing its total to 7,000. As a result, VTrips will expand its presence in North Carolina (Carolina Retreats), Texas (Silver Sands Vacation Rentals and Miss Kitty’s Fishing Getaways ) and in Georgia (Tybee Vacation Rentals).
According to VTrips founder and CEO Steve Milo, the purchases were funded by company profits and commercial bank debt.
Carolina Retreats in Topsail, North Carolina includes the largest of the four acquisitions by number of properties (435). Mike Harrington, Founder and Past President of the Vacation Rental Management Association (VRMA), said in a statement: “Effective June 1, Carolina Retreats has partnered with VTrips Holdings, a Florida-based vacation rental management company led by my good friend, Steve Milo.
“Steve and I go back over a decade when Steve was one of my earliest mentors as I started out in the vacation rental management industry. We served together on the VRMA Board of Directors , where Steve has been instrumental in helping me bring back innovative ideas to help improve income and care for our owners and delight our guests.
Harrington will play a business development role at VTrips and retain ownership of his hospitality business, Intel VRM reported.
Carolina Retreats, Tybee Vacation Rentals and Silver Sands were advised by Ben Edwards of Weatherby Consulting on the deal.
Milo said: “The involvement of Ben and the team at Weatherby Consulting ensures a professional process and that a deal can be done at lightning speed. We also know that Ben and his team have personally reviewed businesses, making them more attractive. »
C2G Advisors president Jacobie Olin represented Miss Kitty’s Fishing Getaways. Olin said: “It was a pleasure to represent Dawn Huff at Miss Kitty’s Fishing Getaways thanks to the acquisition. She’s built a strong brand in Rockport, and we’re happy to see VTrips leading the business into the future. It was a transparent and professional process working with the VTrips team throughout the transaction. »
The four additions to VTrips’ portfolio come at a time when the company is growing rapidly. This year, VTrips announced the acquisition of Southern Vacation Rentals and Taylor-Made Deep Creek Vacation Rentals.
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