On June 2, 2020, Vacasa, North America’s largest vacation rental management platform, announced a $108 million strategic investment round. The financing was led by existing investor Silver Lake with participation from other existing investors including Riverwood Capital and Level Equity. Wilson Sonsini Goodrich & Rosati represented Vacasa in the transaction.

“Like many companies in the travel sector, Vacasa experienced challenges as the COVID-19 pandemic took hold,” said Matt Roberts, CEO of Vacasa. “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.”

Vacasa is already experiencing strong recovery as stay-at-home restrictions lift and popular vacation destinations reopen. Recent data from the company reveals a substantial increase in daily reservations in more cities, and a reduced booking window between the time a guest books their vacation and the date of their expected vacation.

The Wilson Sonsini team that represented Vacasa in the transaction includes:

Corporate
Adam Bloom, Partner
Minji Kim, Associate
Adrian Broderick, Of Counsel
Tiphanie Cascella, Associate

Corporate Finance
Dana Hall, Partner
Joe Catapano, Associate

Real Estate
Jim McCann, Partner
Sierra Bunnell, Associate

Tax
Myra Sutanto Shen, Partner

Employee Benefits & Compensation
Scott McCall, Partner
Jackie Tokuda, Partner

For more information, please see Vacasa's press release.