Journey + Leisure Co. Continues Growth of its Model Portfolio with Acquisition of Accor Trip Membership
-
Journey + Leisure Co.’s trip possession section grows with acquisition of world lodge group Accor’s trip possession enterprise for $48.four million
-
The deal is anticipated to right away profit Journey + Leisure Co. as soon as closed
-
Continues to ship on Journey + Leisure Co.’s strategic precedence of increasing trip model portfolio
-
The acquisition of the prevailing enterprise helps the 2 corporations set up a relationship to develop new timeshare merchandise within the Asia Pacific, Center East, Africa and Turkey areas underneath the Accor Trip Membership model, leveraging Journey + Leisure Co’s international platform .
Journey + Leisure Co. (NYSE:TNL), the world’s main leisure journey and membership firm, introduced an settlement to amass the holiday possession enterprise of world lodge large Accor (AC:FP) for $48.four million. The acquisition is anticipated to shut within the first quarter of 2024 and can instantly be accretive to Journey + Leisure Co.’s earnings upon completion.
This press launch contains multimedia. View the total launch right here: https://www.businesswire.com/information/house/20240130191390/en/
Journey + Leisure Co. continues the growth of its model portfolio with the acquisition of Accor Trip Membership (Picture: Enterprise Wire)
Underneath the phrases of the settlement, Journey + Leisure Co. will purchase Accor’s trip possession enterprise, Accor Trip Membership, which represents 24 resorts and almost 30,000 members. Accor is the most important worldwide lodge chain in Asia Pacific with greater than 1,600 resorts in operation, giving the model a transparent benefit in its recognition on this planet’s most populous area. Accor will obtain a share of trip property gross sales income as a licensing charge underneath the unique licensing settlement.
Journey + Leisure Co. additionally receives unique rights to develop new golf equipment and trip possession merchandise utilizing the Accor Trip Membership model in a area together with Asia Pacific, the Center East, Africa and Turkey.
As soon as the deal closes, the Accor Trip Membership enterprise line will report back to Barry Robinson, president and CEO of worldwide operations at Journey + Leisure Co., primarily based within the firm’s Singapore workplace. “We’re excited to construct on the legacy of Accor Trip Membership, which has had a acknowledged and revered presence within the area for greater than 20 years,” Robinson mentioned. “We’re the companion of selection for main lodge manufacturers as a result of we are able to individually curate their manufacturers and preserve their choices distinctive to vacationers. Utilizing our experience and the size of our international platform, we can speed up the expansion of this trip membership enterprise by offering distinctive trip experiences for present and future members.”
The acquisition will create a brand new line of enterprise for Journey + Leisure Co. as Accor is added to the corporate’s portfolio of affiliated manufacturers, together with Wyndham, Margaritaville and Sports activities Illustrated. The addition of Accor Trip Membership to Journey + Leisure Co.’s worldwide portfolio will increase its membership to greater than 100,000 within the Asia Pacific area and will increase its variety of resorts by roughly 40 % to 77.
Accor Trip Membership resorts are distributed throughout Australia, New Zealand and Indonesia underneath the Accor Peppers, MGallery, Grand Mercure, The Sebel, Novotel, Mantra and Mercure manufacturers in places together with tropical Nusa Dua in Bali, Indonesia, and the magnificent Darling Harbor in Sydney, Australia. and the journey tourism capital of the South Pacific, Queenstown in New Zealand.
Duncan O’Rourke, CEO of Accor MEA APAC – Premium, Midscale and Financial system Division, mentioned the deal highlights Accor’s continued enterprise evolution. “The transaction is aligned with our asset discount technique and permits us to monetize our current enterprise and improve recurring fee streams, supporting the continued progress of our franchised lodge community in Asia Pacific,” O’Rourke mentioned. “By promoting the enterprise to a trusted and confirmed operator with vital scale, we can develop the enterprise and proceed to drive distinctive hospitality experiences for Accor Trip Membership members.”
For extra data, go to travelandleisureco.com/avc.
About Journey + Leisure Co.
Because the world’s main leisure and membership journey firm, Journey + Leisure Co. (NYSE:TNL) reworked the way in which households trip with the introduction of probably the most dynamic points-based trip possession program at Membership Wyndham and the primary trip change community, RCI. . The corporate presents greater than six million holidays every year at greater than 245 timeshare resorts world wide, via personalised journey and membership merchandise, and thru Journey + Leisure GO, the unique subscription journey membership impressed by the pages of Journey + Leisure journal. With hospitality and accountable tourism on the coronary heart of every little thing we do, our greater than 19,000 devoted associates convey out one of the best in individuals and locations world wide. We put the world on trip. Study extra at travelandleisureco.com.
About Accor
Accor is a number one international hospitality group consisting of greater than 5,100 properties and 10,000 meals and beverage retailers in 110 international locations. The group has one of the vital numerous and totally built-in lodge ecosystems within the trade, spanning premium and luxurious manufacturers, price range and mid-scale choices, distinctive way of life ideas, leisure and nightlife venues, eating places and bars, branded personal residences, shared lodging properties, concierge providers, coworking areas and extra. Accor additionally has an unequalled portfolio of distinctive manufacturers and roughly 260,000 crew members worldwide. Greater than 68 million members profit from the corporate’s complete ALL loyalty program, Accor Stay Limitless, a each day way of life companion that gives entry to all kinds of rewards, providers and experiences. By its Planet 21 – Appearing Right here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the group focuses on driving optimistic actions via enterprise ethics, accountable tourism, environmental sustainability, neighborhood engagement, variety and the inclution. Based in 1967, Accor SA is headquartered in France and listed on the Euronext Inventory Trade in Paris (ISIN code: FR0000120404) and on the OTC market (Ticker: ACCYY) in the US. For extra data, go to group.accor.com or comply with Accor on
Twitter
Fb, LinkedIn and Instagram.
Ahead-looking statements
This press launch contains “forward-looking statements” as that time period is outlined by the Securities and Trade Fee (“SEC”). Ahead-looking statements are statements aside from statements of historic truth, together with statements concerning our expectations, beliefs, hopes, intentions or methods concerning the long run. In some circumstances, forward-looking statements might be recognized by way of phrases akin to “will,” “count on,” “future” or different phrases of comparable which means. Ahead-looking statements are topic to dangers and uncertainties that might trigger the precise outcomes of Journey + Leisure Co. and its subsidiaries (“Journey + Leisure Co.” or “we”) to vary materially from these mentioned or implied by the forward-looking statements. Components that might trigger such a distinction embody, however aren’t restricted to, dangers related to: Journey + Leisure Co.’s future prospects and plans, together with our skill to efficiently market and promote Accor Trip Membership merchandise to present and future members; our skill to compete within the extremely aggressive timeshare and leisure journey industries, together with via Accor Trip Membership; the well being of the journey trade and declines or disruptions brought on by hostile financial circumstances (together with inflation, larger rates of interest and recessionary pressures), terrorism or acts of armed violence, political conflicts, wars (together with hostilities in Ukraine and the Center East), pandemics and extreme climate occasions and different pure disasters; hostile adjustments in shopper journey and trip patterns, shopper preferences and demand for our merchandise; elevated or unanticipated working prices and different inherent enterprise dangers; our skill to adjust to monetary and restrictive covenants underneath our indebtedness; our skill to entry the capital and insurance coverage markets on cheap phrases, at an inexpensive value or straight; preserve the integrity of inner or buyer knowledge and defend our techniques from cyber assaults; uncertainty concerning potential resurgences of the worldwide novel coronavirus (“COVID-19”) pandemic; and people different elements disclosed as dangers underneath “Threat Components” in paperwork we have now filed with the SEC, together with Half I, Merchandise 1A of our Annual Report on Type 10-Ok for the fiscal yr ended December 31, 2022, filed with the SEC on February 22, 2023. We warning readers that such statements are primarily based on at present out there working, monetary and aggressive data, and they need to not place undue reliance on these forward-looking statements, which replicate administration’s views solely. from the date they have been made. Besides as required by regulation, we undertake no obligation to revise or replace these forward-looking statements to replicate occasions or circumstances as they happen.
View the supply model on businesswire.com:
https://www.businesswire.com/information/house/20240130191390/en/
Media Contacts:
Chris Logan
Journey + Leisure Co.
Pacific Asia
Phone: +61 424 134 869
chris.logan@travelandleisure.com
Steven Goldsmith
Journey + Leisure Co.
North America
+1 407.626.5882
steven.goldsmith@travelandleisure.com
claire haigh
Vice President of Public Relations and Communications MEA APAC
Premium, mid-range, economical
Phone: +61 438 681 446
claire.haigh@accor.com
Investor contacts:
Kendrick Calilao
Journey + Leisure Co.
+1 407.626.4487
ir@travelandleisure.com