DENVER, Oct. 24, 2018 /PRNewswire/ -- Evolve Vacation Rental Network, a next-generation vacation rental management company, announced today that it has acquired the technology and intellectual property assets of Everbooked, Inc., the leading dynamic pricing platform for the short-term rental category.
"With this acquisition, Evolve homeowners will be uniquely positioned to benefit from industry-leading pricing, analytics and revenue management. Bringing the Everbooked platform in-house expands the intelligence of our already dynamic and competitive revenue management capabilities," said Brian Egan, CEO and co-founder of Evolve.
Founded in 2011, Evolve has a portfolio of more than 9,000 properties and has secured over $350 million in rental income for its owners. The company manages all aspects of marketing and booking vacation rental properties, while providing homeowners the option to configure on-the-ground services to their liking, including access to a vetted network of local partners.
"David Ordal and the Everbooked team did an incredible job creating a world-class pricing platform and our homeowners have already benefited tremendously from our partnership. We're excited to build on that foundation and provide the most advanced revenue management capabilities in the vacation rental industry," said Egan.
The purchase of Everbooked enhances Evolve's ability to establish dynamic nightly rates that are designed to maximize rental income for homeowners. "We've been one of the most progressive users of the Everbooked platform over the past two years and we're thrilled to have exclusive access to their proprietary market intelligence tools and dynamic pricing algorithms," said Cameron Felton, Director of Revenue Management for Evolve.
The Everbooked acquisition is the latest in a string of recent milestones for Evolve. In August the company announced an $80 million capital raise, bringing its total funding to $103 million. The funding will help the company keep pace with triple-digit annual growth rates by expanding its team and furthering the development of its tech-enabled services platform. To accommodate that growth, Evolve will expand to a third floor in its headquarters at 717 17th Street by the end of this year.
About Evolve Vacation Rental Network Based in Denver, Colorado, Evolve Vacation Rental Network is a next-generation vacation rental management company that provides homeowners with maximum rental income and unrivaled flexibility for a fee of 10% per booking − the lowest cost in the industry. The company currently services more than 9,000 vacation rental properties in over 500 markets across North America. For more information, visit EvolveVacationRental.com or call 877-818-1014.