Affirm and Vacasa Partner to Offer Flexible Vacation Rental Payments

Rhea-AI Summary

Vacasa and Affirm have announced a partnership to enhance vacation booking flexibility by allowing customers to split payments into manageable monthly installments. This collaboration enables eligible travelers to book vacation rentals with an option to pay over three, six, or twelve months at an APR as low as 0%. Vacasa, a leading vacation rental management platform, emphasizes its commitment to providing quality service and enhanced payment options, catering to the increasing demand for vacation rentals as consumer travel intentions rise in 2021.

Positive

• Partnership allows flexible payment options for vacation rentals, enhancing customer booking experience.
• Affirm's offering includes 0% APR for up to 12 months, improving customer affordability.
• Increased demand for vacation rentals as evidenced by Vacasa's booking data and an Affirm survey showing 49% of consumers intend to travel more.

Negative

• None.

Today, Vacasa, a leading vacation rental management platform in North America, and Affirm, a transparent alternative to credit cards, announced the companies have partnered to provide flexible payment options to those planning their next vacation. Through the partnership, Affirm will expand its travel category and increase payment flexibility to more vacation rental guests.

Founded in 2009, Vacasa offers travelers thousands of professionally managed vacation rentals throughout North America, Belize and Costa Rica. Each home Vacasa manages is expertly cared for by local teams that adhere to the company’s enhanced Premium Clean standards for the increased safety of its guests. From cozy cabins to sweeping estates to beachfront condos, Vacasa has a perfect home for every type of traveler.

Now, when booking on vacasa.com, eligible travelers can select Affirm at checkout, and split the cost of U.S. vacation rentals into simple monthly payments over three, six, or 12 months with an APR as low as 0%. For example, an $1,800 booking on vacasa.com may be split into $300/month over six months at 0% APR. Customers are shown the total cost of their purchase upfront, which will not increase as Affirm never charges late or hidden fees.

“Professionally managed vacation rentals have become the preferred accommodation type for travelers and we couldn’t be more excited to offer Affirm to Vacasa guests,” said Mike Dodson, Chief Revenue Officer for Vacasa. “We want to ensure that those who book with Vacasa have flexibility throughout the booking process and become excited about their trip—without worrying about paying for their entire vacation up front.”

“According to a recent Affirm survey, 49% of consumers said they intend to travel more in 2021 and Vacasa’s booking data shows that vacation rental demand is on the rise,” said Silvija Martincevic, Affirm’s Chief Commercial Officer. “By giving travelers the ability to pay over time, our partnership with Vacasa will make their high-quality portfolio of vacation rentals available to even more consumers. In addition, consumers will have peace of mind while booking their travel and during their stay because they know that with Affirm, they will never be charged hidden or late fees."

Affirm can be used as a payment option at checkout online or in-store at over 6,500 top merchants of varying categories and sizes. Vacasa is one of the first vacation rental platforms to partner with Affirm, joining top travel merchants including Expedia, Priceline, Delta Vacations, CheapOair, Karisma Hotels & Resorts and Great Wolf Lodge, and more. Offering Affirm helps merchants increase cart conversion, average booking value, and repeat purchase rates.

About Vacasa

Whether travelers are looking to book a weekend getaway or the trip of a lifetime, Vacasa is the trusted partner for all things vacation rental. Vacasa homeowners enjoy industry-leading financial returns on their vacation homes, delivered by the company’s unmatched technology platform that adjusts rates in real time and ensures revenue is always maximized. Guests can relax comfortably in one of Vacasa’s professionally managed homes around the world, knowing that 24/7 customer care is just a phone call away. In the past 10 years, Vacasa and its licensed subsidiaries have grown to become North America’s largest vacation rental management platform and employ more than 6,000 people who are passionate about providing best-in-class service to homeowners, guests, real estate investors and partners. For more information, visit https://www.vacasa.com/press.

About Affirm

Affirm is purpose-built from the ground up to provide consumers and merchants with honest financial products and services that improve their lives. We are revolutionizing the financial industry to be more accountable and accessible while growing a network that is beneficial for consumers and merchants. Affirm provides more than 6.2 million consumers a better alternative to traditional credit cards, giving them the flexibility to buy now and pay over time at virtually any store. Unlike payment options that have late fees, compounding interest and unexpected costs, Affirm shows customers up front exactly what they’ll pay — with no hidden fees and no surprises. Affirm partners with over 6,500 merchants in the U.S., helping them grow sales and access new consumers. Our merchants include brands like Walmart, Peloton, Oscar de la Renta, Audi, and Expedia, and span verticals including home and lifestyle, travel, personal fitness, electronics, apparel and beauty, auto, and more. Payment options through Affirm are provided by these lending partners: affirm.com/lenders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210223005303/en/

FAQ

What is the partnership between Vacasa and Affirm about?

The partnership allows vacation rental guests to use Affirm's flexible payment options, enabling them to split the cost of bookings into monthly payments.

How does the payment plan with Affirm work for Vacasa bookings?

Customers can choose to pay for their vacation rental over three, six, or twelve months at an APR as low as 0%.

What percentage of consumers plan to travel more in 2021 according to the Affirm survey?

According to the survey, 49% of consumers intend to travel more in 2021.

What are Vacasa's Premium Clean standards?

Vacasa's Premium Clean standards involve professional management and cleaning procedures to ensure the safety and comfort of guests.

Which other merchants partner with Affirm for payment options?

Affirm partners with over 6,500 top merchants, including Expedia, Priceline, and Delta Vacations, providing various payment solutions.