The Quiet Dealmakers of Short-Term Rentals

There is a league of short-term rental operators quietly reducing competition through consolidation. 

There are deals that make a splash: Airbnb buying HotelTonight or Vacasa Buying Turnkey, and then there are deals that are made behind the scenes, with no fanfare. 

AvantStay, the California-based hospitality and real estate company, is one active acquirer. 

“We can confirm that we are actively acquiring select managers across the country and integrating into the AvantStay brand. Our ability to leverage our platform to elevate the short-term rental experience in new markets has proven to be a big success,” Reuben Doetsch, co-founder of AvantStay, told Skift. 

Doetsch confirmed that AvantStay acquired Lakecations last June to launch rentals around Lake Norman in North Carolina. It also expanded its geographic footprint: It launched in the Poconos in Pennsylvania, Port Aransas in Texas and Whidbey Island in Washington state, with the acquisition of Poconos Rentals, Sway Vacation Rentals and Tara Vacation Rentals. That same month, AvantStay also laid off 10% of its staff in a third round of job cuts.

Charleston, South Carolina-based property management company Portoro, which snapped up StayLocal Austin in January 2023, is slated to have a portfolio of 200-plus homes with an acquisition this month, and six others in 2024. 

Oregon-based full-service management company Mered