Vacation Rental Pros, one of the largest multi-destination, technology-enabled property management companies in the US has rebranded as VTrips. The announcement marks the latest in a series of growth-oriented moves by the fast-growing company.
Founded in 2006, Florida-based VTrips manages 2,000 vacation properties in 19 markets with 150 employees across the United States, including Florida, South Carolina, Tennessee, New Mexico, and Hawaii.
“The new VTrips brand demonstrates our commitment to a national and—soon to be—international brand,” said founder and CEO Steve Milo.”
The company aims to further consolidate its position with scalable technology while aggregating a differentiated supply of exclusive contracts through market-leading operational services and smart acquisitions.
“Our strategy has always been to maintain the local brands of the companies we acquired,” Milo said. “The new brand VTrips serves as the umbrella brand over the original sub-brand, Vacation Rental Pros, along with the 17 other vacation rental brands owned and operated by the company, with further acquisitions in the pipeline.
Milo added, “We also wanted to design a brand that is broad enough to allow us flexibility to expand our platform as we grow.”
By 2021. the global vacation rental market is predicted to be worth $194 billion, and demand for rentals is set to exceed supply by 10 to 20 percent.
According to CMO Amy Africa, “VTrips is changing the traditional paradigm of property-centric marketing in our industry. Because VTrips owns the exclusive contracts to the properties we manage—through our sub-branded micro-sites, the VTrips site and online travel marketplaces—we are able to bring together the exposure provided by the OTA’s along with the services offered by vacation property managers to be fully guest-centric in both our operational and marketing approach.”
Throughout 2018, VTrips plans to continue to scale and further penetrate the vacation rental market through strategic acquisitions, increased focus on brand awareness, and operational efficiencies.
Hey Bill. They aren’t an OTA, they’re a management company. They manage the properties listed with, as Milo says, “companies [they] acquired.” Buying smaller companies, increasing inventory, economy of scale.
Will be interesting to see their course for 2018, and where future acquisitions take them.