Vacasa, one of North America’s leading vacation rental management platform, recently announced the acquisition of Latitude 38 in growing its inventory in Telluride to more than 200 vacation homes, according to a news release. Through the new partnership, Vacasa will increase its investment in Colorado, while keeping the well-established Latitude 38 brand and local team in place.
Longtime resident Kevin Jones, who intends to join Vacasa in a management role, founded Latitude 38 in 2009. As an active member of the Telluride community, including his role as a volunteer firefighter, Jones built the vacation rental business to connect guests with the natural beauty and recreation of his hometown.
“I’m extremely proud of the company and team we’ve built in Telluride, and I have trust in Vacasa to carry on that legacy,” Jones said in the release. “Vacasa knows mountain markets well and has managed properties in Colorado for 10 years, completing several successful in-state acquisitions, so we expect it to be a seamless transition for homeowners, team members and loyal guests of Latitude 38.”
Jones, along with Latitude 38 cofounders Jay Hellstrom and Jude Allan, weren’t necessarily looking to sell the company or partner with a larger management company, but when Vacasa reached out last year, the talks went well and he realized that this would be beneficial to all involved, including his local team of employees and the homeowners themselves.
“We were not initially considering or looking to sell the business. However, that changed as our conversations with Vacasa progressed, and we started talking in earnest about the partnership late last fall. Through those conversations, it became abundantly clear that partnering with Vacasa was the best path forward for the business, our employees and our homeowners,” he told the Daily Planet. “Our two companies were aligned not only with our operations, but in our values. Vacasa consistently said yes to the things that are important to us and are important to success in Telluride, mainly the continuation of our brand and service levels, keeping our local presence and team in place, and being part of the community. By joining with a company that operates across 400-plus markets, with increased services and partnerships, we’re able to give Latitude 38 homeowners better care and marketing reach, and our employees more opportunity.”
Latitude 38’s portfolio of over 185 luxury homes and ski-in-ski-out condos is centrally located, putting guests near Telluride’s gondola and Mountain Village in the winter, and along the San Miguel river trail for summer hiking and biking. While visiting, guests also have access to the Latitude 38 Clubhouse and concierge services, including airport shuttles, advance lift tickets and gear rentals, and dining reservations, all of which will continue under Vacasa’s management. In addition, Vacasa plans to maintain the entire Latitude 38 staff across departments, as well as its three local offices.
“As a Coloradan, I’m excited to introduce more of our guests to the beauty of Telluride, and to leverage the expertise and local ties that Kevin’s team has developed,” Vacasa COO Bob Milne said in the release. “We know how special this company is, and this partnership allows us to combine our expertise and operational excellence to best serve our guests in Telluride. Additionally, we’ll provide Latitude 38 homeowners access to Vacasa’s dynamic pricing technology, around-the-clock customer care and partnerships with all the major booking channels.”
Vacasa is a full-service vacation rental management platform professionally managed homes across North America, Costa Rica and Belize, and is backed by dynamic pricing technology, marketing and booking expertise, and partnerships with leading listing sites such as Airbnb, booking.com, and Vrbo, in its efforts to drive year-round bookings and increased revenue for homeowners.
“Vacasa’s mission is to best serve short-term rentals throughout each state it operates in, and is proud to help fuel the local economy by paying state, county and city lodging taxes,” according to the release.
In the past 10 years, Vacasa and its licensed subsidiaries have grown to become a leading vacation rental management platform and employ approximately 6,000 people who are passionate about providing best-in-class service to homeowners, guests, real estate investors and partners.