Wyndham Worldwide Set to Buy ResortQuest for $56 Million

Wyndham Worldwide Set to Buy ResortQuest for $56 Million

Wyndham Worldwide said its Exchange & Rentals business unit, a worldwide leader in vacation exchange and European leader in vacation rentals, has agreed to acquire ResortQuest, a provider of full-service vacation rentals in the U.S. The acquisition price is approximately $56 million subject to adjustments. The all-cash transaction is anticipated to close by the end of the third quarter, subject to satisfaction of customary closing conditions.

With this acquisition, Wyndham Worldwide will become the world’s largest full-service vacation rental business, providing access to more than 85,000 vacation properties in approximately 100 countries. ResortQuest will provide a strong platform for Wyndham’s expansion into the U.S. serviced vacation rentals market.

Wyndham will expand its efforts to provide superior rental distribution services to consumers, as well as provide second homeowners the opportunity to rent their properties through a trusted source and well-known brand, according to Geoff Ballotti, president and CEO of Wyndham Exchange & Rentals.

Wyndham Exchange & Rentals is the worldwide leader in vacation exchange and the European leader in vacation rentals, with access for specified periods to more than 80,000 vacation properties in approximately 100 countries. The vacation exchange business includes RCI, the worldwide leader in vacation exchange and provider of travel services to businesses and consumers and The Registry Collection program, the world's largest luxury exchange program.