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As Vacasa works to grow its share in the vacation rental market, the property management company is tapping longtime travel executive Rob Greyber to be its next CEO.
Greyber, who led Expedia‘s Egencia division from 2009 to 2020, will succeed current Chief Executive Matt Roberts, effective Sept. 6.
The leadership change comes two weeks after Vacasa reported better-than-expected quarterly earnings and raised its full-year guidance. The news sent the stock up 25% on the day. So far this year, the company’s shares are down about 42%. Its market cap is $2.07 billion.
Greyber said a weakening economy is proving to be a tail wind for Vacasa’s property management business as more people look to list their homes and make some extra cash. Greyber also said homeowners who switch to Vacasa from another vacation rental manager earn an average of 20% more per year.
He…
