Va. Beach vacation company acquired by Calif. company
VSA owns hotels at the Oceanfront
Mill Valley, California-based Vacatia Inc. has acquired Virginia Beach-based hospitality and vacation ownership company VSA Resorts, the timeshare owner and property management services provider announced Jan. 3.
Financial details of the transaction were not disclosed.
VSA owns three Virginia Beach properties: Ocean Key Resort, Atrium Resort and Ocean Sands Resort. The company also manages wholly-owned condominium associations in the area. It has nearly 100 employees and an owner base of more than 18,000.
“In considering this sale, we were impressed by Vacatia’s new ideas for independent timeshare resorts, customer-centric perspective and highly capable management team,” VSA President Lori Overholt said in a statement.
With the addition of VSA’s resorts and association management business, Vacatia now manages 21 timeshare and 42 whole-ownership associations for a total of 4,750 units and 50,000 owners. It provides property management services in eight states.
“The addition of VSA Resorts to our nationwide network reflects Vacatia’s dedication to providing owners and guests with high-quality, hassle-free vacations in the most in-demand destinations,” Vacatia co-founder and CEO Caroline Shin said in a statement.