There have been rumours spreading in the world of Timeshare that Marriott Vacations Worldwide may be looking to take ILG Inc under its wings in a merger that could make them the biggest timeshare group in Hawaii.
This buyout would give Marriott the edge over Hilton Grand Vacations who, at the moment, hold the biggest group of resorts in the popular Hawaiian Islands, an ever-popular holiday destination for those worldwide. Marriott is said to be in serious talks with ILG inc. A leading global provider in Leisure and Vacation services. The group owns several brands of vacation services including Sheraton Westin, Hyatt, Aqua Aston Hospitality and Vistana Signature Experiences.
This would add to Marriott Vacations portfolio, Ritz Carlton and Marriott to be a huge global conglomeration of timeshare destinations. This merger is meant to be secured by the month end, however, mergers as large as this can take longer than provisioned as there are so many details to be secured. ILG became a much bigger entity back in 2016 when it acquired Vistana Signature Experiences from Starwood Hotels & Resorts, this placed ILG inc. as one of the global vacation service competitors.
At the end of last year, ILG was managing 250 resorts worldwide and had a total of two million members in its timeshare programs. Marriott has over sixty-five properties in the Americas, with the two combining will bring their portfolio to over 300 resorts.
These growth and acquisitions that are still happening in the timeshare world are proof that there is still a market for this type of holiday product. At a time when there is so much tarred talk regarding the timeshare industry, it is nice to see that there is still demand for part ownership vacations. Like all industries timeshare must adapt and develop along with new legislations and ever-changing demands from the owners of said timeshare units.
Marriott has its headquarters in Orlando, Florida whereas at ILG have theirs in Hawaii. The two groups are the biggest operators in these holiday destinations. It will be interesting to see if the merger goes ahead and if it does, what will be the final agreement between these two giants?
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk