Wyndham buys Shell Vacations for $102M in cash
PARSIPPANY, N.J. (AP) — Wyndham Vacation Ownership has purchased privately held Shell Vacations LLC and its subsidiaries for about $102 million in cash.
The company said Friday that the transaction also includes $153 million of debt.
The acquisition gives Wyndham Vacation property management operations at 19 Shell resort locations in Hawaii, California, Arizona, Nevada, Oregon, Wisconsin, Texas, New Hampshire and Canada.
It will also run Shell Vacations Club, a points-based reservation and exchange system, and manage all of the club's marketing, sales and financial services operations.
Wyndham Vacation, a subsidiary of lodging company Wyndham Worldwide Corp., says the deal will immediately add to earnings.
Wyndham Worldwide is based in Parsippany, N.J. Its shares finished at $53.97 per share on Thursday.