Sale of Vacation Rental Management

12 Months Ended

Dec. 31, 2018

Sale of Vacation Rental Management

Sale of Vacation Rental Management

8. Sale of Vacation Rental Management

In December 2017, the Company entered into and consummated the PCR Purchase Agreement with PCR for the sale of the Company’s short term vacation rental management business. In December 2017, the Company received proceeds of approximately $9.9 million, which resulted in a net gain of $9.8 million, from the PCR Rentals Sale and included $5.0 million in the form of a promissory note. On February 14, 2018, the PCR Note was paid in full. See Note 9. Other Assets for additional information on the PCR Note.