Δευτέρα, 30 Απριλίου 2018

Marriott Vacations Worldwide to Acquire ILG





Αποτέλεσμα εικόνας για Marriott Vacations Worldwide to Acquire ILG


MIAMI —Marriott Vacations Worldwide Corporation (MVW) and ILG have entered into an agreement under which MVW will acquire all of the outstanding shares of ILG in a cash and stock transaction with a value of approximately $4.7 billion.

ILG is a provider of vacation experiences with more than 40 properties and more than 250,000 owners in its Vistana Signature Experiences and Hyatt Vacation Ownership portfolios, as well as exchange networks that comprise nearly two million members and more than 3,200 resorts worldwide.

As a combined entity, MVW and ILG will have the largest portfolio of upper-upscale and luxury brands in the industry, according to the companies. The combined company will be the global licensee of seven upper-upscale and luxury vacation brands, including Marriott Vacation Club, Grand Residences by Marriott, Ritz-Carlton Destination Club, Sheraton Vacation Club, Westin Vacation Club, St. Regis Residence Club, and Hyatt Residence Club. It also will have exclusive access for vacation ownership to the Marriott Rewards, Starwood Preferred Guest and Ritz-Carlton Rewards loyalty programs for its six Marriott vacation ownership brands. With respect to its Hyatt business, the combined company will have rights to develop, market and sell under the Hyatt Vacation Ownership programs, including access to the nearly 10 million members of the World of Hyatt loyalty platform.

Marriott Vacations Worldwide’s President and CEO Stephen Weisz, and its CFO and Administrative Officer John Geller will continue to serve in their roles following the close of the transaction. The Marriott Vacations Worldwide Board of Directors will be expanded from eight to 10 members to include two current members of the ILG Board. William Shaw will remain chairman of the board. MVW’s headquarters will remain in Orlando, FL, and the combined company will maintain a significant operating presence in Miami.

Foley & Lardner LLP advised MVW as lead timeshare and exchange counsel in the transaction. Orlando-based partner Bill Guthrie led the team, with assistance from Orlando partners Dan Bachrach and Matt Jassak.

Tags: Grand Residences by Marriott Hyatt Residence Club Hyatt Vacation Ownership ILG

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