Vacasa To Outfit Its Homes With Proprietary Smart Home Technology

Rhea-AI Summary

Vacasa, a leading vacation rental management platform, will equip its portfolio of over 35,000 homes with advanced smart home technology at no cost to homeowners. This includes keyless locks, customized Wi-Fi routers, and a patented noise monitoring system, enhancing both guest and homeowner experiences. Nearly 13,000 homes already benefit from these technologies, with full rollout expected by the end of 2022. CEO Matt Roberts emphasized the commitment to safety and technology integration in the vacation rental market.

Positive

• Implementation of smart home technology at no cost to homeowners, enhancing security and guest experience.
• Proprietary technologies like keyless locks and noise monitoring systems improve operational efficiency.
• Nearly 13,000 homes already equipped with smart technology, indicating strong initial adoption and customer satisfaction.

Negative

• No significant financial metrics provided to assess impact on revenue or profitability from technology upgrades.
• The rollout of smart home technology is expected to be completed by the end of 2022, indicating potential delays in full implementation.

Leading vacation rental management platform will equip its portfolio of 35,000+ homes with Vacasa smart home technology at no additional cost to homeowners

PORTLAND, Ore.--(BUSINESS WIRE)-- Vacasa (Nasdaq: VCSA), a leading vacation rental management platform in North America, today announced that its homes will feature Vacasa’s smart home management system, including proprietary keyless locks, Wi-Fi router with custom connectivity experience, and a patented noise monitoring system. These technologies will be provided at no additional cost to Vacasa homeowners.

Vacasa’s noise monitoring technology (Photo: Business Wire)

“Vacasa technologies are purpose-built for the entire vacation rental experience, from booking to check-out, homecare to local operations, yield management to customer service,” said Vacasa CEO Matt Roberts. “Installing these technologies in Vacasa homes represents a major investment in the homeowner and guest experience, operating as good neighbors in our communities, and making our vacation rentals the most technologically advanced in the industry.”

Vacasa homes will be outfitted with:

• Vacasa’s keyless locks
• Wi-Fi routers
• Vacasa’s noise monitoring technology

Vacasa’s keyless locks are easy to install and configure with Bluetooth connectivity and the company’s exclusive, internal app. The locks generate unique door codes for each stay and every individual home care visit. These codes are date- and time-limited to provide secure, controlled home access, ensuring no one else can enter the property outside the time specified by their code. These locks can also facilitate a 100% contactless check-in for guests.

Wi-Fi routers will be placed in homes to help ensure a simple and customized connectivity experience. Through the Vacasa guest app, guests enjoy one-click, instant connection to the Wi-Fi hotspot. In addition to easy internet access, these Wi-Fi routers continuously monitor connectivity in the home, alerting Vacasa of internet service disruptions immediately, often before a guest is inconvenienced.

Vacasa’s patented noise monitoring system uses a proprietary algorithm to identify excessive noise issues and automatically notify the local team, helping Vacasa homes operate as good neighbors in their communities. This technology includes proactive intervention as soon as noise issues arise, and only registers noise decibel levels without the ability to record or transmit any audio.

“First and foremost, vacation rental homeowners want safety and security for their homes. Vacasa’s smart home management system will deliver on this consistently across our portfolio better than anyone in the business,” said Vacasa Senior Vice President of Innovation John Banczak. “As vacation rentals move toward greater professionalization, Vacasa homeowners will benefit from the most complete technology offering in the industry, and guests will benefit from the most seamless experience on their well-earned vacation.”

Nearly 13,000 homes already feature certain Vacasa smart home technologies, and the Vacasa smart home management system will be rolled out to remaining homes through 2022.

About Vacasa

Vacasa is the leading vacation rental management platform in North America, transforming the vacation rental experience by integrating purpose-built technology with expert local and national teams. Homeowners enjoy earning significant incremental income on one of their most valuable assets, delivered by the company’s unmatched technology that adjusts rates in real time to maximize revenue. Guests can relax comfortably in Vacasa’s 35,000+ homes across more than 400 destinations in North America, Belize and Costa Rica, knowing that 24/7 support is just a phone call away. In addition to enabling guests to search, discover and book its properties on Vacasa.com and the Vacasa Guest App, Vacasa provides valuable, professionally managed inventory to top channel partners, including Airbnb, Booking.com and Vrbo.

For more information, visit https://www.vacasa.com/press.

Forward-Looking Statements

Certain statements made in this Press Release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect Vacasa’s current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from Vacasa’s expectations and projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) changes in applicable laws or regulations; (ii) Vacasa’s ability to meet its financial and strategic goals, due to, among other things, competition and its ability to pursue its growth strategy and manage growth profitability; (iii) the possibility that Vacasa may be adversely affected by other economic, business, and/or competitive factors; (iv) the continuing or new effects of the COVID-19 pandemic; and (v) other risks and uncertainties described herein.

You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the final proxy statement/prospectus filed by Vacasa, Inc. with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to Rule 424(b)(3) on November 10, 2021, and in Vacasa’s other filings with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

The foregoing list of factors is not exclusive. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Vacasa does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005421/en/

Adam Pedowitz

adam.pedowitz@vacasa.com

Source: Vacasa

FAQ

What smart home technologies is Vacasa implementing in its portfolio?

Vacasa is introducing keyless locks, customized Wi-Fi routers, and a patented noise monitoring system in its homes.

How many homes will feature Vacasa's smart home technology?

Vacasa will equip over 35,000 homes with smart home technology.

When will Vacasa complete the rollout of its smart home management system?

The full rollout of Vacasa's smart home management system is expected by the end of 2022.

How does Vacasa's noise monitoring system work?

The noise monitoring system detects excessive noise levels and alerts local teams without recording audio.

What benefits do Vacasa homeowners receive from the new technologies?

Homeowners gain enhanced security, better connectivity, and improved guest experiences without additional costs.