Wednesday, January 2, 2013

Wyndham Vacation Rentals Continues Global Expansion; Acquires Three Vacation Rental Management Businesses

World’s largest professionally managed vacation rentals company increases U.S. beach inventory and expands U.K. cottage portfolio with additions to its global rental network

Wyndham Vacation Rentals, part of the Wyndham Worldwide family of brands (NYSE: WYN), announced today that it has completed three tuck-in acquisitions as part of its ongoing global expansion efforts.

In the United States, Wyndham Vacation Rentals acquired the vacation rental assets of Oceana Resorts, a leading provider with more than 25 years experience in Myrtle Beach, S.C., a market which attracts over 14 million visitors annually. Oceana Resorts offers over 1,000 upscale condominium units across eight oceanfront resorts.

In addition, through its acquisition of the vacation rental business of Kaiser Realty, which provides more than 450 condo and beach home accommodations in coastal Alabama, Wyndham Vacation Rentals adds Kaiser Realty’s 30 years of history and increases its rental offerings along the sugar-white beaches and emerald-blue waters of the Gulf of Mexico.

In the United Kingdom, Wyndham Vacation Rentals acquired Cumbrian Cottages, a leader for many years with over 2,500 vacation homes in the most sought after destinations throughout Cumbria and The Lake District, Northumberland, Yorkshire, Derbyshire, Wales and Scotland. With this acquisition, Wyndham Vacation Rentals increases its position as the UK’s leading supplier of self-catering holiday accommodations.

“The acquisition of Oceana, Kaiser and Cumbrian Cottages significantly enhances the leisure accommodations we offer in popular vacation destinations,” said Geoff Ballotti, president and CEO, Wyndham Exchange & Rentals. “Cumbrian Cottages expands our presence in key European vacation markets while Oceana Resorts and Kaiser Realty help expand the selection of properties we offer our guests in popular U.S. beach communities like Myrtle Beach and Gulf Shores. These three brands will join our global network of rental brands which offer hand-picked, regularly inspected and professionally managed accommodations backed by Wyndham Worldwide.”

With these most recent tuck-in acquisitions, Wyndham Vacation Rentals now includes more than 100,000 properties in over 500 unique destinations. All three businesses and their rental inventory will join the Wyndham Vacation Rentals portfolio, which features more than 25 established brands across the world, including ResortQuest by Wyndham Vacation Rentals, Hoseasons, James Villa Holidays, Landal GreenParks and Novasol.

“We look forward to offering the Oceana, Kaiser and Cumbrian Cottages owners increased distribution channels, new purchasing benefits and innovative owner loyalty programs such as our new Wyndham Home Exchange network, while providing their guests with our signature ‘Count On Me!’ service and industry-leading customer support. And most importantly, we’re thrilled today to welcome hundreds of new Oceana, Kaiser and Cumbrian Cottages associates to the Wyndham Worldwide family as we look forward to developing and growing their careers at one of the largest and most admired hospitality companies in the world,” added Ballotti.