SRS Distribution To Be Acquired For US$18.25 Bln By The Home Depot

KUALA LUMPUR, March 29 (Bernama) -- The portfolio company of Leonard Green & Partners and Berkshire Partners, SRS Distribution (SRS), has entered into a definitive agreement with The Home Depot to be acquired for US$18.25 billion. (US$1=RM4.73)

SRS is a leading distributor of residential and commercial building products in the United States, with more than 760 branches across 47 states, while The Home Depot is the world’s largest home improvement retailer.

“Since our investment in SRS 11 years ago, we have enjoyed a highly collaborative and effective partnership with Chief Executive Officer (CEO) Dan Tinker and the entire SRS management team and we are thrilled to reach such a successful milestone in this announced sale to The Home Depot,” said Berkshire Partners Managing Director, Josh Lutzker in a statement.

Meanwhile, Senior Partner at Leonard Green & Partners, Jonathan Seiffer said: “We feel privileged to have had the opportunity to invest in and partner with SRS and its more than 11,000 employee stakeholders. We extend a heartfelt thank you and congratulations to the entire team at SRS on their remarkable history of growth.”

SRS Distribution President and CEO, Dan Tinker commented that the company was thrilled to be combining with The Home Depot, which is a direct result of the unwavering commitment and dedication from the entire team at SRS.

Berkshire Partners invested in SRS in 2013 when the company generated approximately US$650 million of revenue with fewer than 100 branches, distributing primarily residential roofing supplies.

In 2018, Leonard Green & Partners became majority owner of SRS, with Berkshire Partners remaining a significant shareholder. Over the duration of the partnership, both private equity firms helped evolve and grow the best-in-class leadership team at SRS.

-- BERNAMA

NETSFERE PLATFORM DEPLOYED BY KPJ PASIR GUDANG SPECIALIST HOSPITAL TO PREVENT DATA BREACH

KUALA LUMPUR, March 27 (Bernama) -- NetSfere has announced that KPJ Pasir Gudang Specialist Hospital (KPJ PGSH), one of the leading private healthcare providers in Malaysia, deployed the secure enterprise messaging platform to empower healthcare staff with secure and intuitive communications.

Netsfere has been implemented to align with KPJ PGSH’s mission of ensuring safety and professionalism, according to the company in a statement.

As part of tackling cybersecurity threats and keeping patient and hospital data secure and private, KPJ PGSH management equipped its staff with NetSfere.

With its world-class execution, NetSfere allows caregivers to discuss, share and collaborate seamlessly in a completely secure environment governed by the policies set by the hospital’s management.

NetSfere Enterprise allows the information technology team to set up the policies for messaging making sure information can remain private and under the organisation’s control.

“Permitting caregivers to discuss information swiftly and avoid potential data breaches is what healthcare systems need during this technological era so they can improve patient care.

“NetSfere provides healthcare systems with a convenient and frictionless way to share ideas, files and data without compromising productivity, security or compliance,” said NetSfere Senior Vice President of Asia Pacific and Middle East, Chee Leng Loy.

Meanwhile, KPJ PGSH Chief Executive Officer, Khairul Hasanain Abdul Hamid said NetSfere’s end-to-end encrypted platform helps its healthcare staff protect against third-party organisations from accessing patient or hospital data.

KPJ PGSH is the 23rd hospital under the flagship of KPJ Healthcare Berhad group and was established to cater to the medical needs primarily of Pasir Gudang and its neighbourhood regions of Johor.

A global provider of next-generation secure and compliant messaging and mobility solutions, NetSfere provides industry-leading security and message delivery capabilities, including global cloud-based service availability, device-to-device encryption, location-based features, and administrative controls.

-- BERNAMA

DNP ACCELERATES DEVELOPMENT OF PHOTOMASK MANUFACTURING PROCESS FOR 2NM GENERATION EUV LITHOGRAPHY

^{Image of EUV lithography with pellicle, a protective film for the photomask (Photo: Business Wire)}


- Participate in NEDO R&D Project as Rapidus subcontractor -

TOKYO, March 27 (Bernama-BUSINESS WIRE) -- Dai Nippon Printing Co., Ltd. (DNP, TOKYO: 7912) has begun development of a photomask manufacturing for 2-nanometer (10-9 meter) generation logic semiconductors that support Extreme Ultra-Violet (EUV) lithography, the cutting-edge process for semiconductor manufacturing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240319148117/en/

 

DNP will also act as a subcontractor and provide the newly developed technology to Tokyo-based Rapidus Corporation (Rapidus). Rapidus is participating in the Research and Development Project of the Enhanced Infrastructures for Post-5G Information and Communication Systems instigated by the New Energy and Industrial Technology Development Organization (NEDO).

[Background]

We have strengthened our ability to manufacture cutting-edge semiconductors with high productivity and quality. And in 2016, DNP was the world's first merchant photomask manufacturer to introduce the multi-beam mask writing tool (MBMW).
In 2023, we completed the development of a photomask manufacturing process for 3-nm generation EUV lithography, and commenced development of 2-nm generation technology. In response to the need for further miniaturization, we will begin full-scale development of a photomask manufacturing process for 2-nm generation EUV lithography, including the operation of second and third multi-electron beam mask lithography systems in FY 2024.
DNP plans to bring online its second and third MBMW mask lithography systems in FY 2024, accelerating the development of photomasks for 2-nm generation EUV lithography.
DNP will act as a subcontractor on Development of Advanced Semiconductor Manufacturing Technology (Commissioned) by Rapidus as part of the NEDO’s previously mentioned R&D project.

[Going Forward]
By FY 2025, DNP will complete the development of a manufacturing process for photomasks for 2-nm generation logic semiconductors that support EUV lithography. From FY 2026 onwards, we will push ahead with the establishment of production technology with a view to commencing mass production in FY 2027.
We have also begun development with an eye toward the 2-nm generation and beyond, and have signed an agreement with imec, a cutting-edge international research organization headquartered in Leuven, Belgium, to jointly develop next-generation EUV photomasks. DNP will continue to contribute to the growth of Japan's semiconductor industry by promoting development in collaboration with various partners within the framework of the international semiconductor industry.

More Details

About DNP

DNP was established in 1876, and has become a leading global company that leverages print-based solutions to engineer fresh business opportunities while protecting the environment and creating a more vibrant world for all. We capitalize on core competencies in microfabrication and precision coating technology to provide products for the display, electronic device, and optical film markets. We have also developed new products, such as vapor chamber and reflect array that offer next-generation communication solutions for more people-friendly information society.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240319148117/en/

Contact

Media contact
DNP: Yusuke Kitagawa, +81-3-6735-0101
kitagawa-y3@mail.dnp.co.jp

Source : Dai Nippon Printing Co., Ltd.

THE MOST GLOBAL ALIMENTARIA&HOSTELCO CONFIRMS THE STRENGTH OF THE FOOD INDUSTRY AND ITS INNOVATIVE DYNAMIC

BARCELONA, Spain, March 25 (Bernama-GLOBE NEWSWIRE) -- Alimentaria&Hostelco, the leading trade show platform for the food, beverage, foodservice and hospitality equipment industry, closed yesterday an edition marked by international participation and business that has once again brought together the entire sector and advanced the industry's main lines and trends. More sustainable and healthier products, as well as AI and robotics solutions for the Horeca channel have been presented from 18 to 21 March at the event celebrated in Barcelona (Spain).

Over 3,200 exhibiting companies from 68 countries took part in the event, to encourage business, internationalization and competitiveness in strategic sectors for the Spanish economy. Around 107,900 professionals had visited the show, 25% of them international, from 120 countries. With an estimated economic impact of 180 million euros, the figures for d'Alimentaria&Hostelco reflect the strength of the event, which occupied nearly 100,000 m² of net exhibition space, almost all of Fira de Barcelona's Gran Vía venue.

This edition was attended by more than 900 international firms, led by Italian companies, and with a remarkable return of Asian companies, especially China, South Korea and Thailand.

The trade show reaffirmed its leadership by strengthening the complementarity of its represented sectors and offering a great business platform for its professionals. Attendees included 2,200 important buyers invited from strategic markets for the export of food and hospitality equipment, such as the European Union, the USA and Latin America, who took part in some 13,500 meetings with companies.

Food innovation, gastronomy and the rise of protein, as well as the latest trends in the hospitality sector, were the main features of the program of more than 350 activities at Alimentaria&Hostelco, in which nearly 700 prestigious experts and chefs took part.

The show was a great showcase for hundreds of innovations, including functional and healthier foods. The digital transformation that the sector is undergoing has also been confirmed and it has been possible to discover how new technologies and artificial intelligence are integrated into the industry and services with robots and new solutions that optimize restaurant management and resources, maintenance, customer service and sustainability.

The next edition of the trade fair platform organized by Fira de Barcelona will be held from 23 to 26 March 2026.

Press contacts:
Susana Santamaria – Gloria Dilluvio
ssantamaria@alimentaria.com – gdilluvio@firabarcelona.com

SOURCE : Fira De Barcelona

BEEWORKS GAMES: MOBILE GAME "IDLE MUSHROOM GARDEN DELUXE" RELEASED IN ENGLISH FOR IOS/ANDROID

^{"Idle Mushroom Garden Deluxe" is now available for download on Google Play and the App Store. (Graphic: Business Wire)}


The Popular Mushroom Farming Simulation App Expands Reach Globally

TOKYO, March 13 (Bernama-BUSINESS WIRE) -- Japanese mobile-game developer Beeworks Games has announced the release of the English version of their app “Idle Mushroom Garden Deluxe” on the Google Play/App Store. The release comes on the heels of the success of their previous title “Mushroom Garden Prime”, which garnered over half a million downloads in just two months.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240307629694/en/

 

“We were overwhelmed by amount of positive support our first app received,” said Kristofer Chan of Beeworks Games. “We look forward to providing our global users even more fun content going forward.”

What is “Idle Mushroom Garden Deluxe”?

“Idle Mushroom Garden Deluxe” is a casual farming simulator, featuring the cute and quirky character “Funghi”. With just one tap, apply food to your log and wait as the Funghi grow. Once the log is full of Funghi, they can be harvested by simply swiping across the screen. It takes just a few seconds to play, perfect for moments of relaxation throughout your busy day.

With 29 different logs to choose from, and over 700 different Funghi to discover, “Idle Mushroom Garden Deluxe” has even more content than its predecessor. Under the right conditions, you might even find yourself a rare special breed of Funghi!

In addition to farming, you can decorate and display your favorite Funghi in the “Cardboard Room”, or complete missions to receive useful items.

App Store URL

• Google Play Store: https://play.google.com/store/apps/details?id=jp.co.beeworks.nameko.dxkiwami
• Apple App Store: https://apps.apple.com/app/id1494083019

App Details

Title: Idle Mushroom Garden Deluxe
Genre: Casual Farming Simulation
Compatibility: Android 5.0/iOS 12.0 or greater
Availability: Japan, South Korea, Taiwan, Hong Kong, Macau, United States, Australia, New Zealand, Singapore, Malaysia, Indonesia, Thailand, Vietnam, Philippines
Price: Free (In-App Purchases available)
Developer: Beeworks Games

About the “Mushroom Garden” Series

First released in 2011, the mushroom farming simulator with its loveable Funghi character has accumulated over 60 million downloads worldwide. The series is particularly popular in Japan, with many goods and events being held to this day.

The series has also found success globally, particularly in South Korea, Taiwan, and the United States.

About Beeworks Games

Beeworks Games values originality, providing unique and enjoyable experiences through their games. Their mission is to create games and characters loved by fans of all ages.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20240307629694/en/

Contact

Beeworks Co., Ltd.
Kristofer Chan
kchan@beeworks.co.jp
+81-50-3095-6157
https://beeworksgames.com/en/

Source : Beeworks Co., Ltd.

ILLUMINATION, NINTENDO TEAM UP AGAIN ON NEW SUPER MARIO BROS. ANIMATED FILM

KUALA LUMPUR, March 12 (Bernama) -- Illumination, one of the entertainment industry's leading producers of event-animated films, and Nintendo Co Ltd, have announced they are producing a new animated film based on the world of Super Mario Bros.

This new animated film is scheduled to hit the big screen on April 3, 2026 in the United States and many additional markets globally with select territories releasing throughout the month of April.

The film will be produced by Illumination Founder and Chief Executive Officer, Chris Meledandri, and Nintendo Representative Director, Fellow, Shigeru Miyamoto. Directors Aaron Horvath and Michael Jelenic, alongside writer Matthew Fogel are returning for the new film.

According to Illumination in a statement, the new film will be co-financed by Universal Pictures and Nintendo and distributed theatrically worldwide by Universal Pictures.

By getting deeply involved in the movie production with the aim to put smiles on everyone’s faces through entertainment, Nintendo will continue its efforts to produce unique entertainment and deliver it to as many people as possible.

Meanwhile, Illumination is excited to continue its partnership with Nintendo, bringing its signature mix of joy and discovery to worldwide audiences of all ages, allowing them to connect with the beloved characters and stories from one of the world's most popular franchises.

-- BERNAMA

"JAPAN BULLET TRAIN" SHINKANSEN TICKET SERVICE NOW OPEN TO INTERNATIONAL TRAVELERS AND FOREIGN RESIDENTS IN JAPAN

TOKYO, Mar. 12, 2024 /Kyodo JBN/ --

Inbound Platform Corp. (listed on the Tokyo Stock Exchange) is pleased to announce the new launch of its Shinkansen (bullet train) ticket service, which includes basic fares, express tickets and the innovative ticket issuance via QR codes, for international travelers and foreign residents in Japan, starting from March 1, 2024.
 
Image1: https://cdn.kyodonewsprwire.jp/prwfile/release/
M107869/202402026175/_prw_PI1fl_xUeq2624.png
 
Image2: https://cdn.kyodonewsprwire.jp/prwfile/release/
M107869/202402026175/_prw_PI2fl_40292sCg.png
 
Through the "JAPAN BULLET TRAIN" website provided by the company, accessible via the link below, international travelers and foreign residents can effortlessly book and manage Shinkansen tickets in less than 2 minutes, while also eliminating language barriers and ensuring seamless experience.
 
"JAPAN BULLET TRAIN" website: https://www.japan-bullettrain.com/
 
Features of service
-Inbound Platform Corp. known for its diverse range of travel services catering to international travelers and foreign residents, has decided to expand and extend support by facilitating Shinkansen ticket bookings. Recognizing the complexities, time constraints and language barriers involved in purchasing Shinkansen tickets, the company aims to streamline the entire booking process through the new service.
With a commitment to exceptional customer service, the company offers telephone assistance in seven languages for a flawless travel experience.
 
-Currently available in English, Mandarin Chinese (both simplified and traditional), and Korean. The company plans to incorporate Spanish and French in the near future. Furthermore, while currently accepting credit cards and Apple Pay, the company plans to integrate additional payment options such as Google Pay and Wechat Pay.
 
How to Use: https://cdn.kyodonewsprwire.jp/prwfile/release/
M107869/202402026175/_prw_PI3fl_4m5taiud.png
 
Available ticket types:
JR Shinkansen and all conventional JR lines nationwide which also include popular routes such as the Narita Express and limited express trains.
*Note that the Japan Rail Pass is not yet available.
 
In the near future, Inbound Platform Corp. intends to provide the Shinkansen reservation service to travel agencies and web media worldwide, aiming to make Shinkansen bookings in Japan as convenient as possible. For those interested, please inquire at the following link: https://www.japan-bullettrain.com/contact
 
About Inbound Platform Corp.
CEO: Shin O
Executive Director: Toru Otake
Address: 4th Floor, SW Shimbashi Building,6-14-5 Shimbashi, Minato-ku, Tokyo
Established: October 2015
Company website: https://www.inbound-platform.com/en/
Services:
Japan Wireless(Wi-Fi rental): https://www.japan-wireless.com/en
Japan Wireless eSIM(embedded SIM card): https://www.japan-wireless.com/esim
AIRPORT TAXI(airport transfer): https://www.airport-taxi.tokyo/en
JW Magazine(web media): https://jw-webmagazine.com/
 
 
Source: Inbound Platform Corp.  

http://mrem.bernama.com/viewsm.php?idm=48202

XSOLLA BRINGS NEW PAYMENT METHODS FOR GAMERS IN AFRICA, ADDING ACCESS FOR 440 MILLION CUSTOMERS AND USERS

 

LOS ANGELES, March 8 (Bernama-BUSINESS WIRE) -- Xsolla, a global video game commerce company, continues to expand its presence in Africa by integrating MTN and Airtel mobile money services. This strategic move addresses the unique financial landscape of Africa, where a significant portion of the population, particularly in regions like Ghana and Uganda, remains unbanked.
 

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240307038287/en/ 

Mobile money services are pivotal, enabling users to manage funds through mobile devices and circumventing the need for traditional banking infrastructure. This initiative opens up a vast new customer base, leveraging MTN's 292 million and Airtel's 147 million users, and simplifies transactions for Xsolla merchants, who can now accept these payment methods effortlessly. It represents a significant leap towards global expansion for game developers, utilizing Pay Station's comprehensive payment options and wide market reach to deliver a smooth and inclusive payment experience.

David Stelzer, President at Xsolla, emphasizes the importance of this initiative, stating, “Our efforts to integrate local payment methods are crucial for expanding our reach in Africa, catering to both banked and unbanked users in these emerging markets. Nearly 40 million potential users will benefit from our simplified integration process for developers, enabling them to concentrate on creating engaging gaming experiences while we handle the intricacies of payments, fraud, taxes, and compliance in Africa.”

http://mrem.bernama.com/viewsm.php?idm=48187

NIPPON EXPRESS HOLDINGS ACQUIRES JAPAN’S STARTUP INSTALIMB STAKE

KUALA LUMPUR, March 6 (Bernama) -- Nippon Express Holdings Inc acquired an equity stake in Instalimb Inc (Instalimb), which is expanding its 3D-printed prosthetics business in the Philippines, India and elsewhere overseas, as an NX Global Innovation Fund investment on Feb 29.

According to a statement, the Nippon Express (NX) Group is striving to enhance its corporate value and resolve social issues to realise the group's long-term vision of becoming a logistics company with a strong presence in the global market.

Through this investment, the group will be assisting Instalimb's business expansion from a logistics perspective and supporting the provision of prosthetic limbs in Asian countries such as the Philippines and India and, in future, emerging countries in Africa and other regions as well.

Instalimb is a Japanese startup which develops new digital manufacturing solutions using 3D printing and artificial intelligence technology, employing these to manufacture and sell 3D-printed prosthetic legs overseas at one-tenth the conventional price and with a shorter delivery time.

The NX Group will continue addressing social issues through business collaboration with startups in Japan and overseas to help bring about sustainable societies where all people can lead affluent and fulfilling lives.

As a global logistics company since 1937, the group provides high-quality logistics services in 50 countries/regions utilising aircraft, ships, railways, and trucks as well as warehouse facilities and information technology systems.

-- BERNAMA

MARY KAY’S SPECIAL REPORT HIGHLIGHTS COMMITMENT TO CHAMPION WOMEN'S CAUSES GLOBALLY

KUALA LUMPUR, March 6 (Bernama) -- Mary Kay Inc, a global leader in women’s empowerment, has released a special report titled "Advancing Women’s Entrepreneurship: from Commitment to Action".

The report details the company’s steadfast commitment to championing women's causes worldwide through the significant strides the company has made in the four years since the founding of the groundbreaking Women’s Entrepreneurship Accelerator (WEA) multi-stakeholder partnership.

“Through the Women’s Entrepreneurship Accelerator, we have created a robust platform that not only supports but celebrates the entrepreneurial spirit of women globally.

“Our goal is to empower five million women by 2030, and we are well on our way. We have engaged over 600,000 women in our programmes and activities so far, and 2024 will prove to be another historic year,” said its Chief Operating Officer, Deborah Gibbins in a statement.

The report showcases Mary Kay’s holistic approach to women's empowerment through the WEA multi-stakeholder partnership, spanning access to education, capital, networks and markets, advocacy, and policy.

It includes remarkable achievements such as Women’s Entrepreneurship Regional EXPO and in-country satellite events in Europe and Central Asia reaching over 15,308 participants; and the successful implementation of various training and mentoring programmes conducted by high-level partners worldwide via the online Women’s Entrepreneurship Certificate Programme.

The company's notable efforts in promoting gender-responsive procurement and investment have also made significant contributions to women's economic participation and empowerment.

-- BERNAMA

ETT | IBYOND™ ASIA DIVISION SIGNS $1.2B DEAL WITH KNIGHTSBRIDGE BRINGING DIGITIZATION AND FINTECH TO ASIA AND THE WORLD

PALM BEACH, Fla., March 5 (Bernama-BUSINESS WIRE) -- ETT | iByond™ and Knightsbridge Group have sealed a monumental deal projected to be worth as much as $1.2 billion, marking a significant stride in advancing digitization and fintech solutions globally. The collaboration signifies a pivotal moment in harnessing cutting-edge technologies to drive innovation and transformation across industries.

This press release features multimedia. View the full release here: 
https://www.businesswire.com/news/home/20240304917175/en/

 

Under the agreement, ETT | iByond™ and Knightsbridge Group will join forces to spearhead digital initiatives and revolutionize financial technology offerings. Leveraging iByond™'s expertise in the burgeoning Artificial Intelligence (AI) landscape and Knightsbridge's global network and resources, the partnership aims to deliver unparalleled solutions tailored to meet the evolving needs of businesses and consumers worldwide. This joint venture will leverage ETT’s state-of-the-art data management and artificial intelligence infrastructure.

Economic Transformation Technologies “ETT | iByond™” (ETT) Asia Division has executed a five year software services and licensing agreement with Knightsbridge that is valued at $683 million to ETT and over $500 million to Knightsbridge. This partnership aims to revolutionize the financial services industry through cutting-edge digital transformation solutions.

The joint venture will leverage ETT's state-of-the-art, data management and Artificial intelligence (AI) platform infrastructure and Knightsbridge Group's advanced market technologies to deliver a comprehensive fintech platform that offers unparalleled efficiency, security, and scalability. By harnessing the power of artificial intelligence, the platform will enable financial institutions to streamline operations, enhance customer experiences, and drive sustainable growth in today's dynamic marketplace.​This collaboration represents a significant milestone in Knightsbridge's expansion strategy and underscores its commitment to driving growth in the region.

The rapid growth of artificial intelligence (AI) and financial technology (fintech) in Asia is reshaping the region's economic landscape at an unprecedented pace. With advancements in AI technology and increasing digitalization across industries, Asia has emerged as a hotbed for innovation and investment in AI and fintech solutions. From pioneering AI-driven financial services to revolutionizing traditional banking and investment practices, Asian countries are harnessing the power of AI and fintech to drive economic growth, improve financial inclusion, and enhance efficiency in financial markets. With supportive regulatory frameworks, vibrant startup ecosystems, and a growing pool of tech talent, Asia is poised to continue leading the global AI and fintech revolution, unlocking new opportunities and driving innovation across sectors.​

Christopher Condon, Chairman and CEO of ETT, commented on the partnership, saying, "This partnership with Knightsbridge emphasizes ETT's dedication to being proactive at the forefront of digital innovation and reinforcing its position to global growth and the rapidly evolving Asian market."

David Chlapowski, President of the Americas and Emerging Markets, added, “Information presented in a scalable and consumable manner is the new oil and is the fuel of digital innovation. The Interoperability of disparate platforms combined with the learning capabilities of artificial intelligence will provide efficiencies never before possible - until now. I would be so bold to declare that ETT/Knightsbridge FinTech Platform is the glue bringing this all together. Collectively , we are ushering a new era of Web 4.0 – the era where Software, Infrastructure, and Finance all come together at the intersection of enablement and wealth creation and turbocharged by AI."

Issaree Suwunnavid said, “As the Managing Director of Knightsbridge Group, I am delighted to announce our joint venture with ETT, bringing cutting-edge fintech solutions to Asia. It fills me with immense pride to establish Thailand as the home of this transformative technology, empowering businesses and individuals across the region with innovative financial services."

For more information, visit ettworld.com or knightsbridgelaw.com 

http://mrem.bernama.com/viewsm.php?idm=48156

TRAVEL + LEISURE CO COMPLETES ACCOR VACATION CLUB ACQUISITION

KUALA LUMPUR, March 4 (Bernama) -- Travel + Leisure Co, the world’s leading membership and leisure travel company, has successfully closed the acquisition of the vacation ownership business of global hospitality giant Accor.

The acquisition is expected to be immediately accretive to Travel + Leisure Co earnings, which means the Accor Vacation Club based in Australia, New Zealand and Indonesia will now be integrated into the Travel + Leisure Co business structure.

The company has assumed responsibility for the development and marketing of Accor Vacation Club, along with the servicing of nearly 30,000 club members and management of 24 club resorts in Australia, New Zealand and Indonesia.

Travel + Leisure Co President and Managing Director of International Operations, Barry Robinson said: “Our intention is to grow the brand in the various markets where we are licensed and expand in the markets Accor Vacation Club is already operating in.

“We are excited to have the opportunity to build on the 24-year legacy of Accor Vacation Club and, as the world’s leader in vacation ownership, we have the knowledge to grow Accor Vacation Club while conveying its unique propositions and delivering the elevated guest experiences the business is renowned for.”

In a statement, Travel + Leisure Co said the acquisition increases the international portfolio of the company, namely outside North America, to more than 100,000 members and its club resort count to 77.

As part of the agreement, Travel + Leisure Co has the ability to develop new vacation ownership clubs and products utilising the Accor Vacation Club brand across Asia Pacific, Middle East, Africa and Turkiye.

Current Accor Vacation Club Chief Executive Officer, Craig Wood will stay on and oversee day-to-day operations of that business and will report to Robinson as part of the Travel + Leisure Co structure.

The acquisition was a strategic move that enabled Travel + Leisure Co to fulfil one of its key intents to operate and grow its vacation ownership businesses under other well-known brands, alongside brands like Wyndham, Sports Illustrated and Margaritaville.

-- BERNAMA