First Chair Operating Company is acquiring a portfolio of vacation rental properties in coveted ski destinations and coastal locales carved out from Casago’s recent acquisition of Vacasa. The new operating company will launch with an official brand name and debut as part of the Casago network by the end of May 2026.

We’re building a hospitality-driven organization that empowers local teams, respects the character of each market, and prioritizes strong relationships with team members, homeowners, and guests.

Because we live and work in the communities we serve, we have a direct stake in their long-term vitality and reputation. That perspective shapes how we operate every day. Our goal is to protect and care for exceptional homes while maximizing their long-term value and revenue potential through thoughtful positioning, targeted marketing, and operational excellence.

This portfolio will benefit from a dedicated hospitality platform built specifically around ski and coastal destinations. By refining the focus, we can invest more deeply in local teams, strengthen relationships with homeowners and associations, and elevate how homes are positioned and experienced by guests. The result is a more attentive, market-aware approach designed to build long-term value.

The portfolio includes homes located in premier ski destinations and coastal markets across Colorado, Wyoming, Montana, Vermont, Idaho, with select properties in portions of California, Maine, Massachusetts, and New Hampshire.

The transition is underway, with the new brand expected to launch by the end of May 2026. In the coming months, our focus is on building the platform and preparing enhanced marketing and operational capabilities so that we’re strongly positioned at launch.

No. The team members who currently manage homes will remain in place, continuing to provide local support and the same high standard of care.

Community association management is a core focus of the new operating model, and we’re committed to being reliable stewards and long-term partners. Our approach reinforces community standards while protecting long-term reputation and property values through:

• Thoughtful Positioning: Through targeted marketing resources, we showcase and celebrate the character of your community, from amenities and grounds to shared spaces.

• Consistent Operational Oversight: Experienced on-site teams deliver comprehensive oversight of your community’s common areas, from guest services and housekeeping coordination to maintenance.

• Comprehensive Administrative Support: Full-service support includes budgeting, dues collection, reserve planning, and rule enforcement.

Your home is both a personal sanctuary and a valuable asset. Our model is designed to protect it, care for it, and maximize its long-term value and revenue potential through a more focused, hospitality-driven approach grounded in: 

• Personal Connection and Communication: We prioritize trusted, long-term relationships through responsive communication, clear guidance, and consistent local support. You have direct access to teams who know your home and your community.

• Commitment to Care: Experienced local teams maintain homes to exacting standards, delivering proactive maintenance, rigorous oversight, and attention to detail.

• Maximizing Revenue Potential: Thoughtful positioning and targeted marketing highlight your home’s unique features, and strong distribution channels and tech-enabled revenue management aim to boost reservations.

Guests can expect a seamless experience with exceptional service from booking through departure. Well-maintained homes, clear communication, dependable standards, and teams that are part of the neighborhood ensure every stay feels effortless, welcoming, and consistent.

You may continue to contact your local relationship manager as you do today. As the transition progresses, we will communicate regularly and proactively to keep you informed of any updates or next steps.

The new company will operate as a focused hospitality platform dedicated specifically to a ski and coastal property portfolio. While the transition is being coordinated in partnership with Casago, the new operating company will manage day-to-day operations independently once launched.

Our leadership team includes former Wyndham Destinations leaders and current Vacasa executives, ensuring continuity throughout the transition process. Chief Executive Officer Rishi Nigam has served as Chief Executive Officer at Urbain Hospitality Group and Senior Vice President of Global Corporate and Strategic Development at Wyndham Destinations. President and Chief Operations Officer Bob Milne, Vacasa’s current Senior Vice President of Operations, will remain in his position throughout the transition before moving to the new company. 

In addition to senior leadership with former Wyndham Destinations and current Vacasa executives, we are proud to be supported by Paceline Equity Partners, a committed and deeply-aligned investment partner with significant experience in the hotel and hospitality and residential real estate sectors. Paceline’s senior leadership team has worked together for nearly 20 years and manages more than $1.5 billion in equity commitments on behalf of a global investor base.

Homeowners will receive direct communication if any updates to agreements or documentation are required as part of the transition.

There will be no changes to homeowner fee structures or revenue management during the transition period. 

A central element of our strategy is to maximize long-term revenue potential by leveraging the experience of our veteran leadership team to deliver a more hands-on, hospitality-oriented approach—taking special care to highlight and differentiate the unique attributes of each home and destination. Through thoughtful positioning and targeted marketing, we aim to drive reservations, strengthen performance, and build lasting value for homeowners, including increased rental revenue. 

In the near term, we’ll continue using the existing booking channels that drive demand today. We’ll keep you updated as we move through the transition period.

Yes. There won’t be any disruption to booked stays as a result of this transition.

No immediate changes are planned. Homeowners and association boards should continue working with their current local contacts unless otherwise directly notified.