COHO Services Announces Acquisition of Vacation Villages of America’s Assets
Tolovana Inn Cannon Beach, OR
COHO Services merges with Vacation Villages of America, effective April 1, 2024. The move expands COHO's portfolio, marking its entry into vacation rentals.
COHO's expertise in operating exceptional hotels, along with their shared Oregon-grown, family-owned culture, made them the ideal partner for us.”
PORTLAND, OREGON, USA, April 2, 2024 /EINPresswire.com/ -- COHO Services is pleased to announce the successful merger with Vacation Villages of America (VVA), effective April 1, 2024. COHO Services, a well-established entity in the hospitality industry known for its ownership and management of hotels, resorts, restaurants, and commercial real estate across the Pacific Northwest, has finalized the asset purchase of VVA's portfolio. METIS, a leading mergers and acquisition advisory firm serving the hospitality industry, was the exclusive transaction advisor.— Doug Nealeigh
The acquisition includes notable properties such as the Tolovana Inn in Cannon Beach, Oregon, the Inn at Otter Crest in Otter Rock, Oregon, and the Embarcadero Resort and Marina in Newport, Oregon, along with their respective HOA management agreements. While this strategic move officially marks COHO Services' entry into the vacation rental segment, it's important to note that COHO has prior experience in this domain, having managed and consulted with the Running Y Ranch Resort in Klamath Falls, OR and the Grey Gull Resort in Ocean Shores, Washington. This established track record underscores COHO's familiarity with managing diverse portfolios of properties while maintaining a commitment to excellence.
Doug Nealeigh, owner and CEO of VVA, expressed his satisfaction with the merger, stating, "I wanted to ensure that I found the perfect fit for our clients, employees, and partners. COHO's expertise in operating exceptional hotels, along with their shared Oregon-grown, family-owned culture, made them the ideal partner for us."
Maili Morrison, President of COHO Services, echoed Nealeigh's sentiments, describing the merger as a "perfect marriage" that brings together two outstanding companies. "We are excited to leverage the years of experience and expertise brought by Doug and his team," Morrison remarked. "This collaboration allows us to introduce innovative operational practices and strategies from our hotel management experience, enhancing the success of VVA."
With this acquisition, COHO Services' management portfolio expands to encompass a total of 37 properties throughout Oregon, Washington, and Idaho. The merger between COHO Services and VVA signifies a significant milestone in the hospitality industry and reflects the commitment of both companies to delivering unparalleled guest experiences and fostering growth in the Pacific Northwest.
Maili Morrison
COHO Services
+1 3606013673
maili.morrison@cohoserv.com
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