[Credit: Accor Vacation Club / Travel + Leisure Co.]

Travel + Leisure to buy Accor Vacation Club in $48.4m deal

Australia / New Zealand: Membership and leisure travel company, Travel + Leisure Co., has announced that it has reached an agreement to acquire Accor Vacation Club, the vacation ownership business of global hospitality brand Accor, in a $48.4 million transaction.

The acquisition of one of Australia and New Zealand’s leading holiday and lifestyle programmes is expected to close in the first quarter of this year.

Accor Vacation Club currently represents 24 resorts and nearly 30,000 members. Accor, which operates more than 1,600 hotels around the world, will receive a percentage of vacation ownership sales revenue as a licensing fee under the exclusive licensing agreement.

The deal reflects Travel + Leisure Co.’s continuing strategic priority to expand its vacation brand portfolio. Under the terms of the purchase, it will receive the exclusive rights to develop new vacation ownership clubs and products using the Accor Vacation Club brand across a region, including Asia Pacific [APAC], the Middle East, Africa and Turkey.

When the deal closes, the Accor Vacation Club business line will report into Barry Robinson, president and managing director of international operations for Travel + Leisure Co., based in the company’s Singapore office.

Robinson said: “We are excited about building on the legacy of Accor Vacation Club, which has been a recognised and respected presence in the region for more than 20 years. We are a partner of choice for leading hospitality brands because we are able to individually curate their brands and maintain their unique offerings to travellers.

“Utilising our experience and the scale of our global platform, we will be able to accelerate the growth of this vacation club business by delivering outstanding vacation experiences for current and future members,” he added.

The acquisition will also create a new line of business for Travel + Leisure Co. as Accor is added to the company’s portfolio of brand affiliations, including Wyndham, Margaritaville, and Sports Illustrated. The addition of Accor Vacation Club to the Travel + Leisure Co. international portfolio increases its membership to more than 100,000 in the Asia Pacific region and grows its club resort count by approximately 40 per cent to 77.

The Accor Vacation Club resorts are distributed across Australia, New Zealand and Indonesia under Accor brands Peppers, MGallery, Grand Mercure, The Sebel, Novotel, Mantra and Mercure.

Duncan O’Rourke, CEO, Accor MEA APAC – premium, midscale and economy division, said: “The transaction is aligned with our asset-light strategy and allows us to monetise our existing business and enhance recurring fee streams, supporting the continued growth of our franchised hotel network across Asia Pacific. By selling the business to a trusted and proven operator with significant scale, we will be able to grow the business and continue to drive outstanding hospitality experiences for Accor Vacation Club members.”

Timeshare and vacation ownership company, Wyndham Destinations, acquired travel publication Travel + Leisure from Meredith Corporation for $100 million and rebound itself as Travel + Leisure Co. in February 2021. Today, Travel + Leisure Co. delivers more than six million vacations every year at 245+ timeshare resorts worldwide.

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