As of September 6, Vacasa chose Rob Greyber to succeed current Chief Executive Matt Roberts. Greyber oversaw Expedia’s Egencia segment from 2009 until 2020.
Greyber was a protégé of Dara Khosrowshahi, CEO of Uber, who also served as Expedia’s CEO from 2005 until 2017.
Greyber stated of Khosrowshahi, “I think one of the things he showed me as a leader was that you had to stand back occasionally.”
Rob Greyber, a seasoned travel businessman, will take over as Vacasa’s new CEO as it attempts to increase its portion of the holiday rental industry.
With effect from September 6, Greyber will succeed current Chief Executive Matt Roberts. Greyber oversaw Expedia’s Egencia segment from 2009 until 2020.
Two weeks after Vacasa released better-than-anticipated quarterly profits and increased its full-year projections, the company’s leadership changed. The stock rose 25% that day as a result of the announcement. The company’s shares have decreased by around 42% so far this year. It has a $2.07 billion market value.
As more individuals try to offer their properties and earn some additional money, Greyber claimed that a faltering economy is working in Vacasa’s favour. Greyber said that homeowners that transfer to Vacasa from a different vacation rental company make 20% more money annually on average.
He had a strong recommendation going into the position. Dara Khosrowshahi, the CEO of Uber from 2005 to 2017, who formerly served as the CEO of Expedia, was a mentor to Greyber.
In a phone interview with CNBC, Khosrowshahi said, “I very quickly saw Rob’s potential and ultimately moved him to lead Egencia, which was our corporate travel company.”
The firm, according to Khosrowshahi, “was all about leveraging the power of technology to take corporate travel, which was still quite high-touch and conventional, and pushing it ahead to the same change you saw internet travel go through” during Greyber’s 11 years as CEO of Egencia.
Greyber complimented his old employer in return.
I believe one of the things he taught me about leadership was the need to occasionally take a step back. Greyber said in a phone interview with CNBC that “the automobile travels where the eyes go, and even as you’re concentrating on the intricacies and on the execution, making sure that you maintain an eye on where you’re going.”
As he assumes the leadership at Vacasa, he will need to put that lesson into practise.
The continuous labour scarcity is viewed as a concern for the firm because it is a sizable property management that provides services ranging from coordinating reservations to cleaning rentals.
Greyber responded that “it boils down to execution” when asked how he intends to deal with the competitive labour market.
In 2021, Vacasa was made public by TPG Pace Solutions through a special purpose acquisition company. The corporation has since experienced a rough ride. Despite an 86% gain in the previous month, the stock is still trading at roughly $5 per share, which is far below its IPO price.
“Over the past six to twelve months, the market has generally been under pressure. My main focus will be on taking actions that will pay off in the long term, said Greyber.