Travel + Leisure acquires vacation ownership business of Accor for $48.4M

Travel + Leisure Co. (TNL) “announced an agreement to acquire the vacation ownership business of global hospitality giant Accor (ACRFY) for $48.4M. The acquisition is expected to close in the first quarter of 2024 and to be immediately accretive to Travel + Leisure Co. earnings upon completion. Under the terms of the deal, Travel + Leisure Co. will acquire Accor’s vacation ownership business, Accor Vacation Club, representing 24 resorts and nearly 30,000 members. Accor is the largest international hotel chain in the Asia Pacific with more than 1,600 hotels in operation, giving the brand a distinct advantage in its recognition across the world’s most populous region. Accor will receive a percentage of vacation ownership sales revenue as a licensing fee under the exclusive licensing agreement. Travel + Leisure Co. also receives the exclusive rights to develop new vacation ownership clubs and products utilizing the Accor Vacation Club brand across a region including Asia Pacific, Middle East, Africa and Turkey.”