Vacasa was once the biggest name in vacation rentals — a $4.5 billion powerhouse that raised over $830 million and acquired companies like TurnKey and Wyndham. But by 2025, its valuation had dropped by over 97%, it had laid off thousands, and the dream was slipping away.
Then came Casago — a smaller, franchised operator led by former U.S. Army Ranger Steve Schwab. With just 5,000 properties, Casago shocked the industry by making a bid to buy Vacasa. What followed was a high-stakes bidding war with hedge fund Davidson Kempner, insider drama, and one of the most talked-about mergers in the vacation rental world.
In this episode, we break it all down:
✔️ What happened to Vacasa
✔️ How Casago outmaneuvered a hedge fund
✔️ What this means for property managers
✔️ Why the industry cheered — and paused
✔️ The massive challenges ahead for Casago
⏱️ Chapters:
0:00 Intro – Vacasa’s Rise and Fall
1:02 How the Giant Collapsed
2:05 The Bidding War Nobody Saw Coming
3:10 Why the Industry Cheered — and Paused
4:15 What Davidson Kempner Got Out of It
5:10 The Huge Challenge Ahead
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📑Read our detailed article on this: https://www.rentalscaleup.com/vacasa-backs-casagos-revised-offer-heres-what-it-could-mean-for-homeowners-and-managers/
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