01 Sep Vacation Innovations Announces New CEO & President, Focusing on Growth Amid Pandemic
Chad Newbold Replaces Scott Roberts as CEO; Bryan Rand Appointed President as Company Eyes Expansion in its Third Decade of Serving the Travel Industry
Orlando, Fla. (September 1, 2020) – Vacation Innovations (“VI” or the “Company”), a leading provider of travel-related products, software and services, today announced a strategic realignment of its executive leadership team, with Chad Newbold replacing Scott Roberts as CEO and the appointment of Bryan Rand as President. The realigned executive team is leading the Company’s emphasis on strong performance while it looks to expand, maintaining sales volume across multiple business segments despite the pandemic and increasing its headcount to include more than 300 employees serving all aspects of the travel industry.
Under Newbold’s leadership, the Company has expanded its services from title work to numerous business lines across the travel and vacation ownership industries, with multiple office locations across the U.S. and Mexico. In 2012, he led Vacation Innovations’ strategic acquisition of SellMyTimeshareNow.com and Timeshare Broker Services, which has transformed the organization into a full-service travel solution, offering everything from by-owner advertising and marketing, brokerage services and resort rentals, to inventory fulfillment, services for developers and licensed title services. In the past year, Vacation Innovations has attracted over 4.8 million visits to its family of 50+ websites, resulting in more than 50,000 offers totaling more than $235 million to purchase or rent timeshares on its marketplace.
“It has been an honor to guide this company’s growth over the past two decades, and I am proud to take on this role as we look toward future growth,” said Newbold. “We have increased our headcount since the pandemic began and are aggressively hiring top industry talent as we seek to expand our business offerings and work more directly with developers and other partners in the industry. We are the largest private owner of vacation ownership interests and have paid more than $100 million in management fees directly to the industry. Now, more than ever, we remain committed to providing disproportionate value to consumers and developers alike.”
Rand officially joins the Company as President after more than half a decade of involvement with VI as an advisor and investor. In this role, he is responsible for driving the Company’s operating strategy alongside the CEO and building, managing and growing partnerships with developers, technology providers and other strategic interests. He also leads the Company’s active and aggressive mergers and acquisitions strategy and manages all relationships with capital providers.
“After spending years working with the team as an advisor and investor, I am delighted to officially join Vacation Innovations and help lead them in this critical time,” said Rand. “We are actively evaluating new opportunities for growth with our investment partner, Tritium Partners, and will be sharing more information regarding our expansion plans in the coming weeks. We look forward to serving not only the timeshare market, but the broader travel segment as well.”
David Lack, Managing Partner of Tritium Partners, said, “We are optimistic about the future of Vacation Innovations and are ready to assist in evaluating and pursuing future expansion opportunities. We have a track record of supporting companies with exceptional potential, and we are working hard to help the Vacation Innovations management team position the company for continued growth.”
About Vacation Innovations
Founded in 1999, Vacation Innovations is a leading provider of travel-related products, software and services. Leveraging advanced digital marketing strategies, sophisticated software solutions and decades of experience in vacation ownership, VI brings new vacation opportunities to a diverse audience of novice and seasoned travelers alike. The Vacation Innovations family of brands offers a wide range of travel services, including simplified resort rentals, online advertising and marketing products for by-owner timeshare sales and rentals, licensed timeshare brokerage and title transfer services, and customized owner services and product solutions for timeshare resorts, resort developers, HOAs and timeshare management companies.
About Tritium Partners
Founded in 2013, Tritium Partners is a private equity firm focused on technology and services companies with exceptional growth potential. Tritium’s founder team, which came together from strategic consulting and boutique banking backgrounds, has exclusively focused on growth investing in their careers. With > $900 million of regulatory assets under management, Tritium actively partners with talented founders and executives to build market-leading companies through high-growth initiatives, while maintaining capital efficiency.
Tritium’s approach emphasizes creating long-term value through strategic growth initiatives and acquisitions, with a focus on FinTech and services, Internet marketplaces, software data and analytics, supply chain and logistics, and tech-enabled business services.