Established in 2020 by Michael Pedenko & Elizabeth Shapiro, Porter Vacation Rental Management is currently one of the top five fastest growing vacation rental companies in the American Southwest, and has ambitions to continue their rapid pace of growth.
SCOTTSDALE, Ariz., Nov. 1, 2024 /PRNewswire-PRWeb/ -- Established in 2020 by Michael Pedenko & Elizabeth Shapiro, Porter Vacation Rental Management is currently one of the top five fastest-growing vacation rental companies in the American Southwest, and has ambitions to continue its rapid pace of growth. Porter was founded in Scottsdale, Arizona where it serves as the manager of choice for luxury homeowners in the valley, and currently serves owners in Arizona and Texas. Porter's management team is no stranger to quick growth, achieving almost $4 million in sales in their first full year and doubling revenues in their second full year of operations. Porter credits their continued success to operational excellence, and always seeks to provide the best experience possible for their guests and owner-clients.
At the start of 2024, Porter VRM completed the first in a series of acquisitions in February when it purchased Victory Vacations based out of Galveston, Texas. A second purchase came at the end of May when they acquired Soar Vacation Rental Management, also out of Galveston. Since these businesses were acquired revenues have increased by more than 30% compared to 2023. Porter views these dramatic improvements as a reflection of their stellar operation. With the two combined transactions, Porter has grown to be a key player in Galveston with less than a year of operations in Texas. The company currently manages over 110 rentals in and around Galveston.
Today marks Porter's third acquisition for the year, with the company officially closing on the purchase of KD Prime Properties based out of Flagstaff, Arizona. This transaction adds 70 additional rentals to its portfolio in Northern Arizona, a region that continues to gain popularity with tourists. Porter expects that these homes will experience double-digit revenue growth in the coming months similar to their other acquisitions, and is excited to produce excellent homeowner returns in 2025 and beyond. On the company's success, Michael Pedenko commented, "We look forward to continued success as the vacation rental manager of choice for luxury homeowners in our areas of operation."
For 2025, Porter projects the company's revenues will exceed 20 million dollars, a 53% increase from the current year. With over 260 homes under management representing nearly 300 million dollars in assets, Porter is well positioned to grow their market share throughout the southwest and beyond. If you're reading this and you're an owner of a property management company that is considering selling their business, Porter would love to connect with you for a free confidential business valuation! The company will consider acquisitions of any size in the American southwest as well as Texas. Porter will also consider companies anywhere in the US with revenues of 3 million dollars or more.
Porter is a rapidly growing company hiring for several positions, and we invite you to apply if you're looking for a great place of employment. Porter offers a positive work environment, competitive compensation, healthcare, and other great benefits for its team members. With over 260 unique vacation homes and condos under management Porter is a great partner and host. Book a stay with us today and enjoy amazing hospitality with Porter VRM!
Media Contact
Sierra Folkert, Porter VRM, 1 866-861-3090, [email protected], https://www.stayporter.com/
Michael Pedenko, Porter VRM, 1 480-535-2750, [email protected], https://www.stayporter.com/
SOURCE Porter VRM
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