20 locally led companies managing more than 5,000 homes come together to share infrastructure, technology and data, all under one roof.

NEW YORK, Oct. 5, 2026 /PRNewswire/ -- Pavilion, a national vacation rental company, launched today with 20 local companies managing more than 5,000 homes and welcoming approximately 50,000 guests each month across the United States.

Pavilion launches as the first founder-owned national vacation rental company, with 5,000+ homes under one roof.

Pavilion brings together successful local vacation rental companies that have built deep relationships with property owners and have real expertise in their markets. Each one stays locally led by the teams who built it, while gaining the resources and scale of a much larger organization. What sets Pavilion apart is who owns it. The leaders of its local companies become long-term shareholders, and together with the team running Pavilion itself, they own the majority of the business.

"The people who built these businesses are the core of Pavilion, and they should get the biggest share of the outcome," said co-founder and chairman Joe Fraiman. "The typical industry playbook left founders with a small piece of someone else's company. We've been founders in this industry ourselves, so we built the company we would have wanted to join."

"We look for local companies that have built incredible relationships with their property owners, because those relationships are the heart of this business," said Lino Maldonado, co-founder and CEO of Pavilion. "We see property owners as business owners. Our job is to put the best service, technology and people in the industry behind them so their business is worth more next year than it is today."

Behind the local companies, Pavilion provides shared technology, data, owner reporting, accounting, revenue management, business development, purchasing and insurance. Its management team brings experience from Compass, Bridgewater Associates, Inhabit, Grand Welcome, Wyndham and Wheelhouse.

"Pavilion gave me a way to keep building my business while owning a piece of something much bigger," said Steven Chrobak, founder of Myrtle Beach Destinations. "We have the tools and support we need to grow, and the only thing my homeowners have noticed is that we've gotten better."

Pavilion is actively seeking more local vacation rental companies across the country. "We're looking for builders," said Brady Stump, co-founder of Pavilion. "People who have built something exceptional in their market and want the resources to make it substantially bigger. They are joining a collection of pioneers who own the company together, share what works, and solve problems as a team."

Pavilion's investors include TZP Group, investment funds managed by HPS Investment Partners (a part of BlackRock), and Capital Dynamics. PGIM, the global asset management business of Prudential Financial, Inc. (PFI), served as the primary lender for the Pavilion platform. "Great hospitality companies shouldn't have to choose between what makes them special and the advantages of scale," said Paul Davis, partner at TZP Group. "Pavilion is designed to preserve the local knowledge, hospitality and entrepreneurial leadership that made these companies successful while giving them access to resources that are typically only available to much bigger companies."

Pavilion's 20 founding local companies are 30A Vacay, Akers Ellis, Beach Getaways, Blue Creek Cabins, Compass Resorts, Destin Pointe Realty, Enjoy Unique Stays, Executive Villas, Host & Keep, Kabino, Maui Paradise Properties, Myrtle Beach Destinations, Panhandle Getaways, Premium Beach Condos, Rent in Myrtle, Salt Water Vacations, Scenic Stays, Sea Mountain Vacations, Vacay Rental Network and Wild Oak Telluride. Blue Creek Cabins, Destin Pointe Realty, Premium Beach Condos and Rent in Myrtle have merged with one of the other local companies, so the group operates as 16 today.

Jefferies LLC acted as exclusive financial advisor and Cooley LLP acted as legal counsel.

About Pavilion

Pavilion is a national vacation rental company majority-owned by the people who run it. Its 20 local companies manage more than 5,000 homes and welcome approximately 50,000 guests each month in vacation destinations across the United States. Pavilion gives those companies shared technology, data, infrastructure and expertise while keeping the local teams and leaders behind each one. Pavilion was founded by Stakeholders, the firm Brandon Ezra, Joe Fraiman and Brady Stump started in 2025 to build national companies owned by the people who run them. For more information, visit pavilioncollection.com.

To learn more about Stakeholders, visit stakeholders.us.

About TZP Group

TZP Group, a multi-strategy investment firm managing approximately $2 billion across its family of funds, is focused on control, growth equity, debt and structured capital investments in technology, business services, and consumer companies. Founded in 2007, TZP targets companies with solid historical performance and sustainable value propositions and aims to be a "Partner of Choice" for business owners and management teams. TZP seeks to invest primarily in closely held, private companies in which the owners desire to retain a significant stake and partner with an investor with complementary operating and financial skills to accelerate company growth, increase profitability, and maximize the value of their retained stake. TZP leverages its investment professionals' operating and investment experience to provide strategic and operational guidance and is dedicated to long-term value creation. TZP's investment in Pavilion was led by Paul Davis, Geoff Allard, Alex Pfeffer, and Sam Dwinell. For more information, please visit www.tzpgroup.com.

About Capital Dynamics

Capital Dynamics is an independent global asset management firm focusing on private assets, including private equity (primaries, secondaries and direct investments) and clean energy.

Established in 1988, the Firm has extensive knowledge and experience developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors. Capital Dynamics oversees more than USD 15 billion in assets under management and advisement¹, and employs approximately 150 professionals² globally across 14 offices in Europe, North America, and Asia.

Capital Dynamics is a recognized industry leader in responsible investment, receiving top marks (Five Stars) from PRI across all categories and investment strategies, as well as in GRESB benchmarking for its clean energy strategy. For more information, please visit: www.capdyn.com.

About PGIM

PGIM is the global asset management business of PFI. ((PRU), with $1.5 trillion in assets under management. ³ PGIM offers clients deep expertise across public and private asset classes, delivering a diverse range of investment strategies and tailored solutions—including fixed income, equities, real estate and alternatives. With 1,500+ investment professionals across 40 offices in 20 countries, we serve retail and institutional clients worldwide. For more information, visit pgim.com.

PFI of the United States is not affiliated in any manner with Prudential plc, incorporated in the United Kingdom or with Prudential Assurance Company, a subsidiary of M&G plc, incorporated in the United Kingdom. For more information please visit news.prudential.com.

¹ As of June 30, 2026. Assets under Management are calculated based on the total commitments as of the final closing date for all funds currently managed by Capital Dynamics, including amounts that have been distributed. Assets under Advisement includes assets for which Capital Dynamics provides services such as reporting, monitoring and risk management.

² Includes all full-time and part-time employees, as well as essential functions performed by temporary staff and long-term consultants

³ As of Jun. 30, 2026. Assets are rounded to the nearest full number.

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SOURCE Pavilion