MIAMI, Dec. 21, 2016 /PRNewswire/ -- YouRent – a national, fast-growing, short-term vacation rental provider headquartered in Miami – today announced that an investor-led group has acquired controlling interest of the company. The new executive team will be led by Rodney O'Neal, Brian Ferdinand and Luis Garcia-Fanjul. A multi-million-dollar growth and corporate rebranding plan will be implemented to position the organization as the leader in aggregating and controlling an exclusive portfolio of multifamily, vacation properties in high-demand U.S. markets.
Since acquiring the majority share of YouRent, the company has experienced a more than 500-percent growth from its original collection of 52 properties in Miami and Nashville at the time of purchase. In its trajectory, YouRent is projected to hold a revenue upwards of $75 million by the fourth quarter of 2017 and enter several new key markets.
"We invested in YouRent because we see an underserved industry demand for short-term lodging that provides the finest properties, interior design offerings and personalized, on-site services for both the vacation and business traveler," said Ferdinand, COO of YouRent.
The ongoing success of YouRent is attributed to its unique business model of accumulating and managing its own inventory through long-term and master lease agreements, marketing the units through hundreds of vacation websites and distribution channels. The company focuses on a stringent qualifying process for each property it assumes under its portfolio to ensure specific aesthetic and operation standards are met.
Utilizing a first-of-its-kind industry platform, YouRent's inventory consists of luxury units in Class A, multifamily properties. Through partnerships with best-in-class habitation design consultants and national furniture manufacturers, the company provides a short-term vacation rental product that is standardized in design.
YouRent's properties are strategically located near major urban cores in proximity to main attractions, yet offer unparalleled value. Its highly-trained management and around-the-clock concierge program in each market enables the company to consistently curate and deliver to guests a superior environment and experience of vacationing like a local.
YouRent was founded in 2012 by Michael Braverman, who serves on the board and is active in strategy. The company currently functions under the corporate entity Vacation Rentals, LLC. For more information, visit www.yourent.com.
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