Today Natural Retreats announced its acquisition of Florida-based 360 Blue, doubling its inventory to 1,500 vacation home rentals across 17 destinations.
Founded in Santa Rosa Beach in 2008 by Jason and Jeremy Sprenkle, 360 Blue grew quickly to manage 325 high-end vacation home rentals on the Florida panhandle before acquiring St. Joe Club & Resorts’ prestigious vacation rental program in late 2017, adding 235 homes to the company’s portfolio.
In May 2019, 360 Blue expanded again by purchasing BookBreck in Breckenridge, Colorado. With 575 home under management, the company continuing to grow organically, adding another 175 luxury rentals in 15 months.
“360 Blue is one of the best regional VRM operators in the U.S. and completely aligned with Natural Retreats in terms of vision, high standards, company value, and a strong commitment to homeowners and guests,” said Chris Holden, CEO of Natural Retreats. “This acquisition helps solidify Natural Retreats’ position as the leading national brand in high-end vacation rental management.”
With the objective of being “the preeminent luxury vacation rental brand,” Natural Retreats has purchased multiple vacation rentals along the way, including Big Sky Rentals (60 homes) in Montana in 2016, and Resorts West (125 homes) in Park City in 2017. At the time of the Park City purchase, a press release reported the company completed 13 acquisitions between 2015 and 2017, employed 500 annual team members, and managed “over 1,400 retreats in 35 stunning destinations across the US, UK and Europe.”
Currently, Natural Retreats employs 350 people across 17 markets. According to 360 Blue, CEO and former co-owner Ashley Horsely will continue to lead the Florida panhandle’s operations. When asked if the 360 Blue’s employees will remain with the company, a Natural Retreats spokesperson said, “360 Blue is an exceptionally run organization and we are seeking to grow, not contract.”
Is Natural Retreats pursuing more growth via acquisition? According to the company’s spokesperson, “We are focused on the successful integration of a rather large acquisition right now . . . smart growth opportunities are evaluated on a case by case basis,” and added, “We will continue to consider evaluating great VRM operations in choice vacation destinations.”
Even though Jason Sprenkle is leaving 360 Blue, he will continue to be a prominent face in the vacation rental industry as CEO of Key Data Dashboard and will be presenting 2020 performance data next week at the annual Vacation Rental Data and Revenue Management Conference, Sep. 15 -1 7.