Portland-based Vacasa received $108 million in new investment from a trio of previous investors, including Silver Lake, Riverwood Capital and Level Equity. The capital is envisioned to allow the vacation rental management company to survive the coronavirus crisis.
Vacasa’s fundraising efforts total roughly $630 million, including $319 million raised last fall in a round led by Silver Lake. The company’s valuation hit more than $1 billion and was poised to emerge as a major new Oregon-based company.
Subsequent COVID-19 stay-home orders wreaked havoc for a sector that depends on travel. The company had a worldwide employee count of 6,000 leading into the coronavirus pandemic in March, including roughly 400 in Portland. The company has been able to recall some laid-off workers, and reports May reservations were six times higher than April’s.
Vacasa’s Matt Roberts says, “As we begin to emerge from this global crisis with an infusion of capital, we are in a very strong financial position to capture consumer demand. We believe there will be a preference shift from hotels to professionally managed vacation rentals, as privacy and cleanliness rise to be top priorities for travelers.”
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator.
Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements.
Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.