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
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