Global Travel Powerhouse Expands with Multi-Million Deal

February 2, 2024

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In a landmark move that underscores its dominance in the global travel industry, Travel + Leisure Co. has orchestrated a strategic takeover of Accor Vacation Club, part of the renowned Accor hospitality group, in a deal worth US$48.4 million. This acquisition amplifies Travel + Leisure Co.’s vacation ownership segment and marks a pivotal step in its vacation brand portfolio expansion quest.

This deal, set to finalize in the first quarter of 2024, is forecasted to bolster Travel + Leisure Co.’s earnings immediately, underscoring the company’s adeptness in executing growth-focused strategies. The agreement involves the acquisition of 24 Accor Vacation Club resorts, spreading across Australia, New Zealand, and Indonesia, further solidifying Travel + Leisure Co.’s foothold in the Asia Pacific – a region where Accor leads as the largest international hotel chain with over 1,600 operational hotels.

Barry Robinson, President and Managing Director of International Operations for Travel + Leisure Co., headquartered in Singapore, expressed excitement over the acquisition. “We are eager to build upon the two-decade legacy of Accor Vacation Club, a brand synonymous with quality and prestige in this region,” he stated. “Our expertise in curating unique travel experiences positions us perfectly to elevate and expand this vacation club business, ensuring unparalleled experiences for both current and future members.”

The deal is more than a simple acquisition; it’s a synergistic partnership that promises to revolutionize the vacation ownership landscape. Travel + Leisure Co. gains a significant portfolio and secures exclusive rights to develop new vacation ownership clubs and products under the Accor Vacation Club brand in regions spanning the Asia Pacific, Middle East, Africa, and Turkey.

This strategic expansion adds a new dimension to Travel + Leisure Co.’s already robust portfolio, which includes affiliations with Wyndham, Margaritaville, and Sports Illustrated. The incorporation of Accor Vacation Club is expected to increase the company’s membership in the Asia Pacific to over 100,000, augmenting its club resort count by approximately 40 percent to a total of 77.

Accor Vacation Club’s resorts are strategically located in prime destinations such as tropical Nusa Dua in Bali, Darling Harbour in Sydney, and Queenstown, the capital of South Pacific adventure tourism. This geographical spread enhances the variety and appeal of Travel + Leisure Co.’s offerings, promising members access to some of the world’s most sought-after destinations.

Duncan O’Rourke, Chief Executive Officer of Accor MEA APAC – Premium, Midscale and Economy Division, highlighted the transaction’s alignment with Accor’s evolving business strategy. “This agreement allows us to monetize our existing business effectively while enhancing recurring fee streams. It supports our ongoing growth and the expansion of our franchised hotel network across the Asia Pacific,” he remarked. “Entrusting this business to a proven operator like Travel + Leisure Co. ensures the continued delivery of exceptional hospitality experiences to Accor Vacation Club members.”

This acquisition is more than a business transaction; it’s a testament to Travel + Leisure Co.’s unwavering commitment to excellence and strategic growth. As the travel industry continues to rebound and evolve post-pandemic, this move positions Travel + Leisure Co. at the forefront of the vacation ownership market, ready to deliver exceptional experiences to a growing global membership base. With this acquisition, Travel + Leisure Co. extends its legacy and sets a new benchmark in the global hospitality industry, promising an exciting future for travel enthusiasts worldwide.