Wyndham takes over Shell Vacations Club

from TimeSharing Today

Wyndham Vacation Ownership, has acquired privately held Shell Vacations LLC and its subsidiaries. Shell is one of the largest independent vacation ownership club and property management groups, serving approximately 115,000 members and 19 managed resorts in North America. The purchase price for the equity of Shell is approximately $102 million in cash. The acquisition also includes $153 million of debt, which is primarily related to consumer loan receivables.

Under the terms of the agreement, Wyndham assumes property management operations at 19 Shell resort locations in Hawaii, California, Arizona, Nevada, Oregon, Wisconsin, Texas, New Hampshire and Canada. Wyndham will now also operate Shell Vacations Club and assumes management of all Shell marketing, sales and financial services activities.

"With a history that spans more than four decades, Shell Vacations is both a pioneer and a respected leader within the hospitality industry," stated Franz S. Hanning, President and CEO, Wyndham Vacation Ownership. "We look forward to building upon Shell's achievements and continuing the growth of its highly successful vacation club by pursuing the same formula of providing outstanding quality, value and customer care.