Marriott Vacations Worldwide is buying ILG for $4.7 billion in stock and cash. Marriott says that ILG, formerly Interval Leisure Group, has 40 properties and over 250,000 owners in the Vistana Signature Experiences brand and Hyatt Vacation Ownership portfolios with an exchange and rental network adding up to 2 million members. Marriott’s merger with ILG follows its combination with Starwood, and further fuels its battle with Orlando-based Wyndham Worldwide. The combination of Marriott and ILG will give it about 100 resort properties and 650,000 owners. Wyndham says it has 900,000 owners and 220 resorts. ILG shareholders should receive $14.75 in cash and 0.165 share of MVW common stock for each share if the deal closes. The transaction is expected to close in the second half of 2018, subject to regulatory approvals and approval by shareholders of both companies. The additional revenue streams that ILG would bring to the combined company would raise its total revenue to $2.9 billion. Interval International, ILG's leading exchange business, will maintain its headquarters in Miami, where it has been based since its founding in 1976. MVW's headquarters will remain in Orlando, and the combined company will maintain a significant operating presence in Miami.
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