The deal will let the Paris-based hotel giant continue to get a slice of vacation ownership revenue as a licensing fee.
Travel and Leisure said Tuesday it had agreed to buy Accor Vacation Club, the timeshare business of Accor, for $48.4 million.
Accor is selling two dozen timeshare resorts it had collected over a couple of decades in Asia Pacific, the Middle East, Africa, and Turkey. The deal will let the Paris-based hotel giant continue to get a slice of vacation ownership revenue as a licensing fee.
“The transaction is aligned with our asset-light strategy and allows us to monetize our existing business and enhance recurring fee streams, supporting the continued growth of our franchised hotel network across Asia Pacific,” said Duncan O’Rourke, CEO Accor MEA APAC – premium, midscale and economy division.
Travel and Leisure inherits a network of almost 30,000 timeshare owners who are heavily in Australia and the rest of Asia Pacific. It adds those to the 70,000 timeshare owners in Asia Pacific it already has. The company has lately been adding external brand affiliations, such as Wyndham, Margaritaville, and Sports Illustrated.
The deal is subject to regulatory approval.
Accommodations Sector Stock Index Performance Year-to-Date
What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares.
The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more hotels and short-term rental financial sector performance.
Read the full methodology behind the Skift Travel 200.