Salt Lake City-based VacationRoost Group, a vacation rental platform that’s owned by Kinderhook Industries, said Wednesday that it has acquired Hawaiian Beach Rentals and Vacation Rental Agent. No financial terms were disclosed.
New York, NY – VacationRoost Group Inc. (“VacationRoost” or the “Company”), a portfolio company of Kinderhook Industries, LLC, announced today the acquisition of Hawaiian Beach Rentals (“HBR”) and Vacation Rental Agent (“VRA”). Financial terms of the transaction were not disclosed.
Based in Salt Lake City, UT, VacationRoost is the largest online provider of professionally managed vacation rental properties. VacationRoost’s platform allows customers to shop for and book vacation rentals online with all the comfort and security that they are accustomed to when booking a hotel through a traditional online travel agent (“OTA”). In addition, customers have the opportunity to package their rentals with cars, airline tickets, ground transportation, and local activities with assistance from VacationRoost’s Destination Experts who offer local expertise on the best activities, restaurants, and places to visit in each destination.
“We are very excited about the acquisition of Hawaiian Beach Rentals and Vacation Rental Agent,” said Julian Castelli, Chief Executive Officer of VacationRoost. “The vacation rental industry is growing rapidly, and Hawaii is one of the most attractive markets with its strong year-round demand and incredible vacation offerings. We look forward to bringing this fantastic collection of vacation homes to our customers and providing our vacation rental suppliers with the expanded distribution and marketing tools that Vacation Rental Agent offers.”
Rob Michalik, a Managing Director at Kinderhook Industries, stated that, “This marks a significant day for VacationRoost. The acquisitions of HBR and VRA add tremendous scale to the VacationRoost platform. Hawaiian Beach Rentals has been providing access to high-end Hawaiian vacation rentals for over 10 years and with more than 5,000 unique vacation homes throughout the islands, HBR is the leader in Hawaiian vacation rentals. The acquisition expands VacationRoost’s beach business significantly and gives the Company a valuable tool set for providing vacation rental owners and managers with expanded distribution, yield management tools, and reservation services.”
“With the acquisition of Hawaiian Beach Rentals, VacationRoost becomes one of the top booking generators for beach vacation rentals in addition to its established and leading role in the ski vacation industry,” said Cor Carruthers, a Managing Director at Kinderhook Industries. “The combined companies will have over 65 Destination Experts ready to help our customers create memorable vacations while retaining the personal touch that makes VacationRoost the leading vacation rental reservation company.”
About Kinderhook Industries
Founded in 2003, Kinderhook Industries is a private equity firm with $770 million of committed capital and an investment philosophy based on combining senior management and operating experience in a variety of industries with the financial and investment know-how of private equity professionals. Kinderhook primarily makes control investments in companies with transaction values of $10-$75 million in which the firm can achieve significant financial, operational and growth improvements. The firm targets orphaned non-core subsidiaries of corporate parents, existing small capitalization public companies lacking institutional support and management-led recapitalizations of entrepreneur-owned companies. By providing access to capital, strategic advice and an extensive network of relationships, Kinderhook Industries has a history of successfully building privately held firms in partnership with management. For more information please visit: www.kinderhook.com
VacationRoost is the leading online sales and marketing channel for vacation rental property. Utilizing a combination of proprietary technology, branded websites, strong supplier relationships, local knowledge, premium service and quality of experience, VacationRoost operates as a comprehensive conduit between the direct consumer and the fragmented vacation rental market through its flagship brand VacationRoost.com and over thirty additional websites. For more information please visit: www.vacationroost.com