March 29, 2023

Hello from the Other Side: Christina Thoreson Reflects on Selling Her Vacation Rental Business

Hello from the Other Side: Christina Thoreson Reflects on Selling Her Vacation Rental Business
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In today’s episode, Alex and Annie are joined by Christina Thoreson, who with her husband Thor, built Chattanooga Vacation Rentals into a sizable and well-run outfit in Tennessee prior to selling in 2022. 

Christina recalls their early struggles including not knowing how to run housekeeping and maintenance, and struggling to figure out the legal and operational aspects of the business. Christina and Thor were early adopters of technology, and although they went through a series of software changes, they had finally found the perfect tech and operational recipe in 2021 - and that’s exactly when the doors started knocking with offers to acquire the business.

Christina shares her and Thor’s plans for the future, which she says may include getting back into the industry…perhaps through a franchise. :) 

Learn more about building and selling a successful vacation rental company and shifting careers as a sommelier in this episode of Alex & Annie: The Real Women of Vacation Rentals.


Christina: Seizing a golden opportunity at the best terms  

"In a three week, first in a 24-hour period, and then about a three-week period, we had four interested parties. And I said, Thor, what? We weren't gonna sell. What do we do? And he said, I think it's a sign You know, to get two offers in this period of time, this just doesn't happen. We just need to move forward."

"We probably spent six weeks negotiating that. Well, the first offer we spent about three, two, or three weeks on and just couldn't figure out a way to do it. That second offer, we spent about six weeks really hammering out terms, wanting a lot of assurances about how things were gonna move forward."

Christina: Getting guarantees for their people was a top priority

"One of the things we negotiated, we spent about three weeks negotiating, is a clause in the contract that said you have to keep our people for at least six months. You absolutely cannot change their pay, you can only increase it, and you have to give them these benefits you're promising them. If you don't do that, we have a contract, we'll sue you."

Connect with Christina:

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