In addition to the fundraising and the Series B acquisition fund, Vacatia announced that it has finalized agreements for the acquisition of Liberté Management Group of Treasure Island, Florida, and serve as the management company for Gold Point Resort of Breckenridge, Colorado. Consequently, Vacatia now manages 15 resorts with 30,000 owners in seven states.
Liberté Management Group specializes in the management and marketing of resort style communities on that of Florida gulf coast.
Dennis DiTinno, CEO of Liberté, said: “After 30 years deciding to sell was difficult, but knowing that our owners and employees will be in good hands with the talented team at Vacatia reassures me. Their hospitality-driven culture, technological solutions and innovative revenue-generating products and services are the future of the timeshare industry.
“I am delighted that the Liberté resorts and our owners are at the forefront of such innovation,” he added.
Gold Point Resort Chairman of the Board Harvey LeCato said, “Their modern approach to rental, membership and even housekeeping and maintenance has resonated with members of our board of directors. “
The consumer-focused VacatiaPLUS product offers subscriber members exclusive access, VIP privileges and the lowest price guarantee in resort condominiums. Participating resorts can generate new income from unused inventory while introducing new consumers to the benefits of timeshares.
Meanwhile, the manager and investor of private equity and real estate, Dustin M. Gillman, will join the board of directors of Vacatia.
Shin continued, “With this injection of capital, Vacatia will expand our resort management footprint and continue to develop innovative technological solutions to help timeshare resorts thrive. The recent pandemic has once again proven the appeal of timeshare as a superior means of vacationing, and Vacatia is helping these resorts build lasting relationships with consumers and attract younger audiences.
According to the American Resort Development Association, the American timeshare industry has annual revenues of $ 10.5 billion and 1,582 seaside resorts. Almost ten million, or 7.7 percent of American households, are said to own timeshares.
Founded in 2013, Vacatia’s consumer products include resort condominium rentals, subscription travel products and timeshare resale. Its B2B solutions, provided through Vacatia Partner Services, include rental, resale, subscription products and property management.