Vacation Innovations Partners with Tritium Partners
Monday, November 13, 2017
Just announced today, Vacation Innovations, LLC has formed a partnership with private equity firm, Tritium Partners (Tritium). Vacation Innovations serves are the world’s leading provider of secondary-market services and marketplace solutions for the vacation ownership industry, while Tritium is known as the primary investor behind the successes of HomeAway and RetailMeNot.
With this new partnership, Vacation Innovations will be planning to expand their suite of products and services that support major developers, independent resorts, and associations, while working towards further collaborations and connection between primary and secondary vacation ownership markets.
CEO of Vacation Innovations, Scott Roberts, spoke on the the company’s commitment to disrupting the global marketplace to provide solutions for all parties in the vacation ownership industry:
“Our mission has always been to provide viable, legitimate solutions to timeshare owners, travelers, associations, resorts, and developers alike. We’ve spent almost two decades working to build a fluid secondary marketplace for all participants that today ranks as the largest global timeshare resale and rental marketplace. Alongside that, we have developed innovative products, business practices, and lines of service to help owners and developers overcome issues and challenges inherent to our industry, including compressed resale values and defaulting mortgages.”
Vacation Innovations first began as a title agency back in 1999. They have since expanded to offer a vast range of marketplace services to address all of the consumer needs throughout the secondary market. The company operates the largest and most active resale and rental marketplace in the world, SellMyTimeshareNow.com. They also operate Timeshare Broker Services, a licensed real estate brokerage that specializes in timeshare assets. Vacation Innovations additionally offers individually customized owner services as well as retail product solutions to timeshare resorts, resort developers, HOAs, and timeshare management companies.
“Tritium Partners’ investment in Vacation Innovations is a huge vote of confidence in our business model and our prospects for game-changing growth. As the original institutional investors in HomeAway, Inc., their team partnered with HomeAway’s executive leadership to design and execute the strategy that ultimately led to its rapid growth, public offering, and eventual sale to Expedia in 2016,” said Chad Newbold, president of Vacation Innovations. “We look forward to leveraging Tritium’s considerable travel marketplace expertise to continue our phenomenal growth, expand our collaboration with the primary market, and support our mission of bringing vacation ownership and timeshare rental to a broader group of consumers.”
With this new partnership, Vacation Innovations will be able to continue to invest in technology that supports their ecommerce and for sale by owner marketplaces such as mobile, online booking, and expanding the inventory sources of timeshare rental weeks. They also plan to move their digital marketing programs into new business lines while launching new marketplace products and services that will add value to consumers and developers.
Managing Partner of Tritium, David Lack, commented on their eagerness to work with Vacation Innovations:
“Since our success with HomeAway, we have been actively seeking other great marketplaces in alternative travel accommodations. Vacation Innovations’ market leadership and unique position in the timeshare resale and rental space caught our attention. Vacation Innovations’ extensive services and resources in the timeshare space still remain vastly underutilized by timeshare owners and development partners. We look forward to helping Vacation Innovations accelerate its growth and develop new alliances with the primary market, strengthen its leading position in the online timeshare resale space, and lead the charge to bring timeshare rental into the mainstream of the vacation rental industry.”