Travel + Leisure Co. has agreed to acquire the vacation ownership business of global hospitality giant Accor for $48.4 million. The acquisition is expected to close in the first quarter of 2024 and to be immediately accretive to Travel + Leisure Co. earnings upon completion.
Under the terms of the deal, Travel + Leisure Co. will acquire Accor’s vacation ownership business, Accor Vacation Club, representing 24 resorts and nearly 30,000 members. Accor is the largest international hotel chain in the Asia Pacific with more than 1,600 hotels in operation. It will receive a percentage of vacation ownership sales revenue as a licensing fee under the exclusive licensing agreement. Travel + Leisure Co. also receives the exclusive rights to develop new vacation ownership clubs and products utilizing the Accor Vacation Club brand across a region including Asia Pacific, Middle East, Africa and Turkey.
Upon deal closing, the Accor Vacation Club business line will report into Barry Robinson, president and managing director of international operations for Travel + Leisure Co., based in the company’s Singapore office.
The acquisition will create a new line of business for Travel + Leisure Co. as Accor is added to the company’s portfolio of brand affiliations, including Wyndham, Margaritaville and Sports Illustrated. The addition of Accor Vacation Club to the Travel + Leisure Co. international portfolio increases its membership to more than 100,000 in the Asia Pacific region and grows its club resort count by approximately 40 percent to 77. The Accor Vacation Club resorts are distributed across Australia, New Zealand and Indonesia under Accor brands Peppers, MGallery, Grand Mercure, The Sebel, Novotel, Mantra and Mercure in locations including tropical Nusa Dua in Bali, Indonesia, Darling Harbour in Sydney, Australia, and Queenstown, New Zealand.
For more information, visit www.travelandleisureco.com.
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