Wyndham Destinations has sold its vacation rental business for $162 million. The Orlando based company is selling its inventory of 9,000 condos, houses and townhomes to Vacasa of Portland, Oregon. The deal means that Vacasa, which calls itself the largest vacation management platform now has 23,000 homes worldwide. According to the CEO of Wyndham Destinations, the deal will allow the company to focus on its timeshare programs only. Wyndham’s vacation rental business had brought in $237.5 million in revenue just last year alone, which represented 6% of the company’s $3.9 billion. Wyndham will also have an equity interest in Vacasa. The inventory includes properties in California, Colorado, Delaware, Florida, Georgia, Idaho, Nevada, North Carolina, South Carolina, Tennessee, Utah, and Canada.
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