Casago Agrees to Acquire Vacasa
Skift Take
Casago and Vacasa plan to merge, backed by Roofstock and existing Vacasa investors with completion expected by early 2025.
The DJIA fell 152 points on the first trading day of the new year, while Nasdaq was down 30, the S&P 500 fell 13 points, and the 10-year treasury yield was unchanged at 4.58%. Lodging stocks were lower, but the biggest mover was to the upside, with SOND up 12%.
Jefferies has a positive view of lodging stocks going into 2025 with a more stable macro environment, balanced fundamentals, and sustainable growth. The continuing execution of unit and pipeline growth for C-Corps, the ease of YoY comparison, and ROI projects for REITs, in the context of an improving interest rate outlook, support higher valuations. Jefferies highlighted Wyndham, C-Corps, Ryman Hospitality, and Xenia Hotels as their top picks.
Casago and Vacasa, Inc. announced they have entered into a definitive agreement under which the two will combine with VCSA shareholders to get $5.02 per share, subject to a possible adjustment. Roofs
