Partnering with the local rental company Mountain Property Management, Vacasa has acquired 45 vacation rentals in Teton County. As the state’s most visited county, Teton is home to the Jackson Hole ski area and attracts tourists year-round for its nature and outdoor activities, including skiing and hunting. The properties acquired by Vacasa are chalet and cabin-style rentals ranging from one to five bedrooms.
Mountain Property Management was launched in 1989 by the local Meyring family. CEO Wendy Meyring will continue running day-to-day operations with long-term rentals and homeowner associations while the short-term properties will become available to book on Vacasa.com.
“I first discussed a partnership with Vacasa a couple years ago and, as those conversations continued and the relationship built, the timing was finally right for me and my husband to sell our short-term rental inventory and focus on other aspects of the business,” Meyring said in a press statement. “Through a combination of local operations and advanced technology, Vacasa is able to offer economies of scale that I’m confident will bring new opportunities and revenue potential to local homeowners and the community.”
Launched in 2009 out of Portland, Vacasa currently operates in 34 states and has more than 25,000 vacation properties in its portfolio. It considers itself a boutique option compared and lists its properties on vacasa.com as well as rental platforms like Airbnb and VRBO. It has also been expanding quickly and, earlier this month, announced that executives from Zillow and Angie’s List would be joining its board of directors.
“Mountain and ski destinations are key markets for us and we had been looking for the right partner to make our entry into Wyoming,” Zac Monahan, vice president of acquisitions at Vacasa, said in a press statement. “We feel fortunate to be taking over management from such a reputable company and also to have Wendy join us as a broker in this new market.”
UPDATE: An earlier version of this article stated that Vacasa manages 250,000 vacation properties. That number is actually 25,000.