London-based vacation rental company Awaze, which includes brands such as cottages.com, Hoseasons, James Villas, Landal GreenParks and Novasol, is looking to consolidate its position in Europe through increased M&A activities.
The company was formed when Wyndham Worldwide sold its European vacation rental business to Platinum Equity for $1.3 billion in May 2018. It is one the largest managers and owners of holiday rentals in Europe, with more than 110,000 units in over 600 destinations in more than 25 countries.
Awaze aims to stay locally relevant to owners in the communities in which they operate. Awaze is slightly different from Airbnb and HomeAway, in that it manages the properties as well as distributes them both directly and through third-party platforms.
The company made five acquisitions that totaled $23.1 million (€20.9 million) in 2018, boosting its presence in the UK, Greece, and Spain.
“There’s a massive opportunity in the market and we are investing in delivering better technological solutions and acquiring more properties. If anything, I think we’re taking a more aggressive outlook…in terms of wanting to conquer more market share,” CEO Henrik Kjellberg tells Skift.
In particular, Awaze sees the emerging “anti-flight” movement in Europe – that flying is not good for the environment – bodes well for its stay local business model.