Vacasa, Inc. (NASDAQ:VCSA) Q1 2024 Earnings Call Transcript

Operator: Our next question comes from the line of Nicholas Jones with Citizens JMP. Your line is live.

Nicholas Jones: Hi, this is Tim on for Nick. Thanks for taking our questions. Just wanted to kind of piggyback on that question. You were just kind of talking about ADRs and driving deleveraging the business and your guys’ priority to maximize income for the homeowners. Can you talk a little bit about what you’re seeing in terms of occupancy rates and how that dynamic is playing out with ADRs and maybe how you guys could manage that to maximize income? Thanks.

Rob Greyber: Yes, sure. So maybe I’ll kind of share with you a little bit about sort of occupancy and ADR dynamic. I think that’s your question. So our homes declined about 5% year-over-year. Our nights sold declined about 12%. So, that kind of implies the nights sold per home that was kind of the difference there and then to drive those nights sold, obviously, we want to make sure we’re optimizing price to drive that sell through and gross booking value per night was down about 7%. That kind of gives you the interplay there between the occupancy and the ADR side.

Operator: Ladies and gentlemen, with that, that will end today’s Q&A session for today’s call. And I would like to turn it back over to Rob Greyber for any closing remarks.

Rob Greyber: I want to thank everybody for joining the call today. I also want to take a moment to thank our owners for entrusting their homes to us, to our guests who are making memories with us and to all of our colleagues at Vacasa who are working so hard to make all of this happen. Thank you all very much for joining.

Operator: [Operator Closing Remarks].