Market Demand And SupplyThe short-term rental industry continues to adjust to softening demand for domestic, non-urban vacation rentals, as well as increases in the supply of short-term rental units.
Operational ChallengesSite traffic declines widened from -20% to -34%, indicating a challenging period ahead for VCSA.
Valuation And Financial PerformanceThe offer amounts to an equity value of ~$129M and enterprise value of ~$135M, which is seen as a full valuation for a business with a declining topline and EBITDA losses.