Casago expands California footprint as Big Bear Vacations acquires former Vacasa properties

U.S.-based franchisee Big Bear Vacations has officially acquired a portfolio of property management contracts from Vacasa in Big Bear, California, adding over 340 homes to its regional vacation rental portfolio under the Casago banner. The move marks a significant milestone in Casago’s franchise-driven growth strategy and signals ongoing consolidation momentum within the vacation rental sector.

Founded by former Army Ranger Steve Schwab, Casago has emerged as a leading vacation rental management platform across North America, operating with a hybrid model that pairs national infrastructure with locally led service delivery. The Big Bear expansion, spearheaded by franchisee Nick Lanza, strengthens Casago’s regional dominance in California and follows its broader acquisition of Vacasa properties across the United States.

What impact will Casago’s franchise-led expansion strategy have on California’s vacation rental market consolidation?

Casago’s strategic acquisition of former Vacasa-managed homes in Big Bear Lake underscores its operational thesis: that community-rooted franchise operators can achieve scale without sacrificing service quality. With this transaction, Casago’s Big Bear footprint crosses 340 properties, reinforcing its franchisee-first model in a competitive vacation rental environment historically dominated by centralized platforms.

The former Vacasa portfolio includes individually owned properties that will now be serviced under the Casago model, which emphasizes local autonomy, high-touch homeowner service, and personalized guest experiences. According to company leadership, this structure is increasingly attractive to vacation rental homeowners who seek transparency, reliability, and stable partnerships in the wake of recent volatility in the sector.

This marks another turning point in the regional market, where national operators have historically struggled to reconcile standardization with community-level responsiveness. Casago’s scalable franchise infrastructure provides a middle path—one that investors and property owners alike are beginning to favor as macroeconomic uncertainty prompts reevaluation of property management contracts.

How does Big Bear Vacations’ history with Casago shape the operational outlook for the new portfolio?

Nick Lanza, the operator behind Big Bear Vacations, brings over three decades of hospitality experience in the Southern California region. As Casago’s first U.S.-based franchisee in 2019, Lanza has played a formative role in the development of the brand’s domestic expansion playbook. His leadership in Big Bear was instrumental in establishing best practices that have now been codified across Casago’s broader franchisee network.

Lanza characterized the latest portfolio acquisition as a “culmination of years of market immersion and operational resilience,” noting that the transition would preserve homeowner relationships while improving service infrastructure through Casago’s technology and logistics stack.

Institutional observers note that Casago’s ability to retain veteran franchisees like Lanza while onboarding former Vacasa inventory reflects strong alignment between national brand goals and on-the-ground operational realities—a dynamic that remains elusive for many competitors.

Why are property owners in legacy Vacasa markets migrating to Casago’s local-first model?

Former Vacasa property owners are increasingly seeking new management partnerships amid operational realignments and corporate turbulence at the national level. While Vacasa previously offered a tech-heavy, centralized approach to property management, many homeowners have signaled a preference for the more humanized, community-anchored model Casago offers.

Casago’s franchise structure empowers local operators like Lanza to maintain personal relationships with homeowners while benefiting from national marketing reach, centralized reservations systems, and tech-enabled pricing optimization. This hybrid architecture has proven increasingly popular in saturated vacation rental markets where guest expectations and regulatory pressures demand adaptability.

Casago reports that nearly 95% of its U.S.-based franchisees currently qualify as Airbnb Superhosts or VRBO Premier Partners—an indicator of consistent homeowner and guest satisfaction metrics. Institutional interest in the brand has grown accordingly, with analysts pointing to the business’s resilience during seasonal fluctuations and its ability to rapidly integrate acquired portfolios without service disruptions.

What are analysts expecting next for Casago after absorbing Vacasa’s national footprint?

With the 2025 acquisition of Vacasa completed earlier this year, Casago is now focusing on integrating key regional operators into its franchise architecture. The Big Bear deal represents a microcosm of that transition strategy, where legacy markets are realigned under franchise leadership without diluting guest or homeowner experiences.

Institutional investors tracking the vacation rental market view Casago’s integration strategy favorably, citing reduced overhead risk and improved localized accountability as key value drivers. Analysts expect further franchise-led conversions in former Vacasa strongholds across Arizona, Florida, and Pacific Northwest markets in the coming quarters.

Casago’s competitive advantage remains its ability to offer homeowners a tailored experience within a broader network infrastructure—something larger corporates and smaller independent operators struggle to balance.

How does Casago’s acquisition strategy reflect broader trends in the vacation rental industry?

The vacation rental sector has undergone material transformation over the past three years, driven by post-pandemic travel behavior shifts, tightening municipal regulations, and rising homeowner expectations. Centralized tech-first platforms, once seen as disruptive, have come under scrutiny for failing to maintain consistent service standards in diverse local contexts.

Casago’s expansion into Big Bear demonstrates the growing institutional appetite for decentralized operational models that can scale without compromising service. By acquiring local contracts and placing them under franchisee control, Casago sidesteps many of the reputational pitfalls associated with national consolidation, such as guest dissatisfaction and homeowner attrition.

The move also suggests a blueprint for sustainable growth in a segment of the real estate industry still finding equilibrium after unprecedented pandemic-era volatility.

What does the future hold for Big Bear Vacations and Casago’s franchise model?

For Big Bear Vacations, the portfolio acquisition signals both validation and expansion. Lanza’s team is expected to implement operational upgrades across the acquired properties in Q3 2025, including enhanced guest services, dynamic pricing tools, and more robust homeowner reporting dashboards.

For Casago, the successful integration of Big Bear’s new portfolio may catalyze further expansion into adjacent California markets, especially those where Vacasa previously maintained a presence. Analysts expect Casago to continue leveraging its franchise model to enter new geographies where community connection, not just branding scale, is a competitive necessity.

The broader vacation rental ecosystem will be watching closely. As macroeconomic headwinds and regulatory scrutiny continue, the performance of Casago’s Big Bear operation could serve as a bellwether for what scalable, owner-friendly property management looks like in 2025 and beyond.