Hudson Hill Capital, with all capital being funded to the balance sheet, has made a minority equity investment in VTrips, a Florida-based technology-enabled vacation rental manager throughout North America.
Founded in 2002 by CEO Steve Milo, VTrips offers full-service vacation rental management, including digital marketing, coupled with local market operations to service and maintain vacation properties, with the majority of its inventory in the Southeast.
Milo commented, “This investment, combined with Hudson Hill’s track record of scaling businesses like ours will help us extend our market leadership through a carefully designed acquisition strategy that will further build our category defining technology and service offering. This significant investment represents another key milestone for our company as the vacation rental resort market in North America continues to boom, especially in drive-to markets, and there is far more demand than supply which has resulted in a more than 20 percent increase in average daily Rates in many markets. Covid-19 accelerated the adoption of vacation rentals over hotels and the sector also benefited significantly from social distancing, remote work and remote learning which allows more flexibility for travel.”
Eric Rosen, managing partner of Hudson Hill, said, “Steve has built VTrips into the leading independent vacation rental management platform and one of only a select number of operators with a multi-state footprint. Perhaps more notable about VTrips is its proven ability to operate effectively and profitably over multiple decades. HHC is excited to partner with Steve during the company’s next phase of growth and to use our collective experience to help build the company’s footprint both organically and through M&A, capitalizing on the tailwinds within the growing vacation rental market.”