Last week Marriott Vacations Worldwide timeshare bought ILG ( parent to Sheraton, Westin, Hyatt, Vistana) for $4.7 Billion. The business world and vacation ownership timeshare industry had been anticipating this merger for a very long time. This will combine all these timeshare resorts plus their exchange company, Interval International. This looks to make it the largest luxury timeshare vacation resort group.
While searching for information on the Marriott ILG deal the ILG home page had nothing about it in either their News section or Press release pages.This is not too unusual. The new parent company usually makes the news first. In the months following Starwood and other ILG owners will get some information about the deal and how it may affect their vacation options.
The cost savings is projected to be $75 million a year after consolidating redundant functions. This is the driving force that hopes to make share holders happy. And happy to buy more shares.
The Marriott, Ritz-Carlton, Sheraton, Westin, St. Regis and Hyatt names represent a huge selection of destinations and property types. The difficulty will be in combining all the various systems of points and options into one coherent value system. That will not be easy. But, with any luck they will keep it simple and not require timeshare owners to be experts in calculus so they can figure out their timeshare value.
The combination of Marriott and ILG will give it about 108 resort properties and 650,000 owners, the company said. The largest such group in timeshare vacation ownership, Wyndham, says it has 900,000 owners and 220 resorts. Other competitors include Bluegreen Vacations, and Hilton Grand Vacations.
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