US-based holiday property booking service Oasis Collections has been bought by holiday accommodation rental platform Vacasa for an undisclosed sum, providing an exit for hotel operators Hyatt and AccorHotels.
Oasis advertises holiday homes in 16 destinations for short-term rental, focusing on properties which provide hotel-style amenities, such as a host who can drop in to offer guests check-in or concierge services.
Hyatt has immediately ceased to offer Oasis properties through its distribution and loyalty programs in light of the acquisition. Oasis has 60 employees at present, down from 150 this time last year, according to Skift.
Oasis had reportedly received approximately $35m in funding prior to the acquisition, including an undisclosed sum secured from Hyatt in August 2017.
The company had attracted $2.5m seven months earlier through a convertible note issue to an undisclosed investor, according to Skift, after hotel group AccorHotels had paid an undisclosed amount for a 30% stake in Oasis the year before.
– Image courtesy of Oasis Collections