Meredith Lodging Joins Forces with Bella Beach Property Management, Expanding Its Oregon Coast Resort Portfolio
16 Nov 2018
Meredith Lodging will join forces with Bella Beach Property Management, both companies announced today.
Meredith Lodging will acquire Bella Beach Property Management, but the spirit of the deal is a merger of equals, with the Bella Beach Property Management brand and onsite resort operations staying intact. The deal includes all operating businesses and the exclusive lease for the onsite office and store. All of the commercial real estate was purchased by affiliates of Oksenholt Properties. The remaining vacant property will ultimately be leased long-term by Meredith Lodging LLC to expand its exclusive amenities for homeowners and guests. Purchase price and additional terms of the deal were not disclosed.
“Bella Beach is an established and treasured resort community on the Central Oregon Coast and this partnership will allow us to offer the largest total inventory of beautiful Bella Beach properties to our guests,” said Meredith Oksenholt, Owner and President of Meredith Lodging. “We have a special history with Bella Beach in that my husband Jon and Casey Roloff founded and developed the resort in early 2000. Recently, they started talking about the opportunities and advantages for owners and guests that would result from this merger.”
“We are excited to partner with Bella Beach and offer their homeowners Meredith Lodging’s extensive owner support and marketing platforms, resources we are confident they will see as a significant benefit of the deal,” Oksenholt continued. “Bella Beach Property Management considered potential partners very carefully and we are honored to have been chosen and to keep this special property with a local family-run management team that has long admired the unique identity of Bella Beach.”
Bella Beach Property Management owner Casey Roloff said the company’s partnership with its homeowners made him think carefully about its future. “Bella Beach owners are like family to us--we got into this business to support the communities we have built with on-site management, which is unique in the industry. That means that we truly know our owners. But in our efforts to always grow and improve, we realized that our relatively small scale on the Oregon Coast was becoming unsustainable, as you really need 100+ properties to make this business work. So, we decided to look for the best possible company to partner with – a company that is big enough to add marketing and owner support resources we don’t currently have, but not so big that we risk losing our established brand and that family feeling. Meredith Lodging is the perfect fit – a profitable, secure, right-sized company to partner with to take Bella Beach into the future, while still maintaining the small community atmosphere we have worked hard to build.”
Roloff continued, “We have known Jon and Meredith Oksenholt for years in some early partnerships, and also as competitors. We saw this as a win/win for both companies, and most importantly we see this as a win for our homeowners. Once we knew they were interested, the deal came together quickly. The transition moving forward will be slower and handled with great care,” continued Roloff, “From our homeowners’ perspective – very little will change. In fact, it will only get better.”
Teams from both companies will work closely together under the name Bella Beach Property Management by Meredith Lodging. The focus between now and the end of the year will be to integrate service models and homeowner and guest experiences. According to Meredith Lodging, homeowners and guests will not experience operational or service changes, but will benefit from the expanded service personnel and marketing budget that Meredith Lodging brings to the table.
By the beginning of next year, Bella Beach Property Management by Meredith Lodging will return to the website name of BellaBeach.com. “We are very excited to restore the unique and beloved identity of Bella Beach to the treasured name they started with when they first opened,” said Oksenholt. Bella Beach Property Management by Meredith Lodging will also begin rolling out an enhanced amenity program for owners and guests. “Since day one, we have been a homeowner-first company, and that will certainly continue now,” Oksenholt said. “We look forward to hearing from owners and learning more about their ideas on developing an enhanced amenity package at Bella Beach.”
Bella Beach Property Management by Meredith Lodging will continue to operate as usual, with the addition of a cross-marketing agreement with Meredith Lodging. Their vacation rental collections can be viewed here: https://www.oregoncoastcottagerentals.com/
Meredith Lodging is an award-winning provider of more than 650 premier vacation rentals in Oregon resort locations, with homes on the Oregon Coast and in Bend and Sunriver. Meredith Lodging is headquartered in Lincoln City and has offices and staff in Depoe Bay, Neskowin, Pacific City, Seaside, Manzanita, Seaside, Waldport, Bend and Sunriver. Meredith Lodging’s vacation rental collection can be seen at www.meredithlodging.com