Ares Management Makes Strategic Investment in Awayday To Fuel National Expansion, Accelerate Acquisitions, And Enhance Tech-Driven Vacation Rental Services, As LightBay Capital Reinvests Alongside In Fund II

Awayday (the "Company"), a leading full-service U.S. vacation rental property manager, today announced a strategic investment made by an Ares Management Private Equity fund ("Ares"). The existing financial sponsor, LightBay Capital ("LightBay"), a Los Angeles-based growth-focused private equity firm, fully realized its investment in Fund I and re-invested in the Company alongside Ares in Fund II. Terms of the investment were not disclosed.

Awayday is a leading provider of short-term vacation rental management, offering a full suite of services for property owners, including property listing, online bookings, housekeeping, and maintenance. The Company's local focus coupled with national scale aims to ensure quality experiences and 24/7 assistance for property owners and guests. Awayday's reputation for quality service has led to strong property retention and a sustained track record of organic growth. Today, the Company operates a diversified portfolio of leading local brands with over 9,000 properties under management.

This new partnership provides Awayday with additional capital to further scale its go-to-market strategy, accelerate its pace of acquisitions, drive organic growth in new and existing markets, and invest in tools to improve its services to owners and guests.