Oregon Beach Vacations is the first 100% employee owned vacation rental company in the United States. Founded in 1999, our company became an employee owned ESOP in 2015 with the sale of a business division out of Portland, Oregon. ESOP is an acronym for ‘Employee Stock Ownership Plan’, and this corporate structure has led to special advantages for our employees and our company.
How Ownership Works for Employees:
Any Oregon Beach Vacations employee who works more than 1000 hours in a calendar year accrues ownership in our company. This employee accrual is realized as a retirement-type savings, and after three years the employee’s account is considered ‘vested’. Advantages for the employee include:
- Retirement savings that accrue at no cost.
- Receptive management whose goal is to maximize employee savings.
- The ability to vote on major changes in our company.
How Ownership Works for the Company:
The benefits of employee ownership to our company have been numerous. With so many moving parts in the vacation rental business, great staff is the most critical component to our success as a company. The appeal of our ESOP has helped us to attract and retain some of the best workers along the Oregon coast. The average service length of our members is well over 5 years, and we attribute this low turnover to our ESOP.
In addition to staffing advantages, Oregon Beach Vacations pays no federal or state business income tax because of our designation as a 100% employee owned S-Corporation. With this major tax advantage we are able to pass this savings on to our clients.
How Ownership Works for our Clients:
Homeowners and customers alike enjoy the perks of our ESOP every day they do business with us. In addition to our competitive pricing we strive for excellent customer service and an ever-improving experience for our clients. Some of the improvements we’ve made for our customers since 2015 include:
- Our redesigned and award winning website with quick load times and great functionality. We are committed to an ever-improving guest experience and make updates to our website every month.
- The introduction of doing all laundry off-site between reservations, and improving our house supplies. While other companies ask guests to start the washer or strip the beds on departure, we ask guests to relax and enjoy their vacation.
- Improved guest communication including payment reminders, automatic review emails, and a new phone system designed to reduce hold times. We feel communication is the most important factor in great customer service and strive for low hold-times as well as quick email responses.
Want to learn more about our ESOP, or have other questions about our company? Contact us today!