Marriott Vacations Worldwide Corp. (MVW) has agreed to buy ILG for $4.7 billion in a stock and cash deal, creating the largest luxury brand for timeshare vacation resorts.
ILG is a provider of premier vacation experiences with more than 40 properties and more than 250,000 owners in its Vistana Signature Experiences and Hyatt Vacation Ownership portfolios, as well as exchange networks that comprise nearly 2 million members and more than 3,200 resorts worldwide.
The combined company will be the global licensee of seven upper-upscale and luxury vacation brands, including Marriott Vacation Club, Grand Residences by Marriott, Ritz-Carlton Destination Club, Sheraton Vacation Club, Westin Vacation Club, St. Regis Residence Club, and Hyatt Residence Club. It will also have exclusive access for vacation ownership to the Marriott Rewards, Starwood Preferred Guest and Ritz-Carlton Rewards loyalty programs for its six Marriott vacation ownership brands. With respect to its Hyatt business, the combined company will have rights to develop, market and sell under the Hyatt Vacation Ownership programs, including access to the almost 10 million members of the World of Hyatt loyalty platform. Finally, strengthening MVW’s vacation properties affiliation with ILG’s exchange networks will reinforce Interval International’s industry leading position.