‎Sacramento Bee:
Wyndham Worldwide today announced that its
Exchange & Rentals business unit, the worldwide leader in vacation exchange and European leader in vacation rentals, has agreed to acquire ResortQuest, a leading provider in full-service vacation rentals in the U.S.
The acquisition price is approximately $56 million (USD), subject to adjustments. The all-cash transaction is anticipated to close by the end of the third quarter, subject to satisfaction of customary closing conditions.
With this acquisition, Wyndham Worldwide becomes the world’s largest full-service vacation rental business, providing access to more than 85,000 vacation properties in approximately 100 countries. ResortQuest will provide a strong platform for the Company’s expansion into the U.S. serviced vacation rentals market.