PHOENIX, Ariz., and PORTLAND, Ore., August 20, 2026 — Just over one year after completing its acquisition of Vacasa, the largest vacation rental management company in the industry, Casago today announced it has completed the sale of all former Vacasa markets. In September, the company will conclude the process of moving markets into local franchise ownership or new ownership structures.
Described as a watershed moment for the sector, Casago’s May 1, 2025 acquisition of Vacasa brought together two companies with markedly different operating models: Vacasa’s established, centrally managed North American platform and Casago’s franchise-driven approach, built around local ownership, market-level accountability and personalized service for homeowners and guests. The transaction created a combined company managing more than 40,000 properties across North America, Belize, Costa Rica and the Caribbean, while giving Casago the opportunity to extend its locally rooted franchise model across Vacasa’s former markets.
From the outset, Casago identified franchise ownership as the central pillar of the combined company’s strategy. A year later, that strategy has been fully realized, with former Vacasa markets now led by locally accountable franchise owners and operators, including destination-based owners and larger regional operators managing multiple markets with dedicated local teams. Each is supported by Casago’s national platform, technology, operational standards and culture standards.
The transition underscores Casago’s belief that vacation rental management is strongest when decisions are made close to the homes, homeowners and communities being served. Under the company’s franchise structure, local operators act as stewards of their markets while drawing on the resources, distribution and brand strength of a national network.
Casago President Joe Riley said: “We set out with a clear vision: to bring vacation rental management back to local ownership, local accountability and local hospitality. Now that vision has become reality. The former Vacasa markets are all in the hands of franchise owners who know their communities, care deeply about homeowners and guests, and are committed to building sustainable businesses in the destinations they serve. The speed in which we were able to sell these markets to our new partners was in the hands of our Franchise Sales team who worked incredibly hard over the past year to make this happen.”
“However, this is about much more than a change in structure. It signals where the vacation rental industry is heading. Homeowners want trusted local partners. Guests want consistent service with a personal touch. Communities want operators who are invested for the long term. Our franchise model brings those priorities together under one trusted national brand.”
The transition is intended to strengthen alignment among homeowners, guests, employees and local communities while preserving continuity in destinations previously served by Vacasa. Local franchise owners now lead day-to-day market operations, supported by Casago’s broader network and centralized resources.
Casago Chief Operations Officer John Banczak, added: “The speed and scale of this transformation has been remarkable. In just over 12 months, Casago has moved from acquisition to full market transition while maintaining continuity for homeowners, guests and local teams. That is a testament to the strength of the franchise model and to the owners who have stepped forward to lead these markets into their next chapter. Behind the scenes, there were countless employees on the Franchise Conversion Team and beyond that created and executed a process to equip our partners with the ability to succeed right out of the gate.”
About Casago
Casago is a premier vacation rental management company providing professional property management services for homeowners across North America, Belize, Costa Rica and the Caribbean. Founded in 2001 by former Army Ranger Steve Schwab, Casago has earned a reputation for delivering exceptional guest experiences and reliable property management services through a franchise-driven model. In 2025, Casago expanded its footprint by acquiring Vacasa, a leading vacation rental platform in North America. With a customer-centric approach, the combined company empowers local teams to provide personalized, responsive support for both homeowners and guests. Casago’s commitment to quality is reflected in its industry recognition: it is the only property management company of its scale to be rated in the Top 1% by Comparent. Additionally, nearly 95% of U.S.-based local operating partners are Airbnb Superhosts, VRBO Premier Partners, or both.
