Bradenton vacation rental company joins portfolio backed by NY investment firm

Six brands within a Bradenton vacation rental company have become part of a new vacation rental management collection called Stayterra. Terms of the partnership were not immediately disclosed.

Prime Vacations manages more than 1,000 properties on Anna Maria Island, Siesta Key, Lido Key and the surrounding Sarasota area, according to a statement. Among the company's brands are AMI Locals, Anna Maria Island Accommodations, Anna Maria Vacations, Siesta Key Luxury Rental Properties, Lido Key Vacations and Tropical Sands Accommodations. 

Founded in 2017 by a handful of Anna Maria residents managing a few beach houses, Prime Vacations has grown to a staff of more than 450, according to LinkedIn. It also manages seven hotels and three restaurants in Manatee and Sarasota counties, its website shows. It was not immediately available whether those were part of the partnership with Stayterra.

New York principal investment firm Garnett Station Partners announced Stayterra's creation and its partnership with Prime Vacations in the April 3 statement.

“We launched Stayterra because we see significant opportunity in the fragmented vacation rental market and recognize the importance of thoughtfulness, personalization and excellence in the hospitality industry,” Garnett Station Principal Rafi Haramati says in the statement. “We are fortunate to have developed a great partnership with Prime Vacations, and we look forward to leveraging our growth capital and strategic resources to welcome future partners to the collection and realize the strong potential we see in Stayterra.”

Garnett Station manages over $3.5 billion of assets and partners with entrepreneurs and investors to build growth platforms, according to the statement, which says it aims to continue the momentum of the Florida tourism industry.

Mary Lynn Clark — who has held leadership positions at Wyndham Vacation Rentals, Marriott Vacations Worldwide and The Ritz-Carlton Destination Club — will lead Stayterra as CEO. 

“Through our partnership with Prime Vacations, we have an extensive portfolio of independent, premier brands throughout Florida, including in many of the state’s vibrant and thriving coastal towns that visitors return to year after year,” Clark says in the statement. “I look forward to leveraging the Stayterra network to further support each brand’s commitment to their communities and mission to deliver premium vacation rental experiences that showcase everything these beautiful areas have to offer.”