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Vacasa To Acquire Wyndham Vacation Rentals For $162M

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Vacasa To Acquire Wyndham Vacation Rentals For $162M

Vacasa, a vacation rental management platform, will acquire Wyndham Vacation Rentals from Wyndham Destinations (NYSE: WYND) for $162 million.

Vacasa will finance the acquisition through a combination of cash and equity. The sale will be comprised of $45 million cash at closing, up to $30 million of Vacasa equity, and the remaining balance in either seller financing or cash at closing.

Vacasa expects to complete the integration with Wyndham Vacation Rentals by fall of 2020.

“After conducting a rigorous strategic review process that generated strong interest from multiple parties, we are confident that Vacasa is the ideal buyer,” said Michael Brown, CEO of Wyndham Destinations. “In the past decade, we grew our vacation rental business to prominent leadership in North America. We determined that selling Wyndham Vacation Rentals is the best option to return value to shareholders and enable the long-term growth of our company through vacation ownership and exchange.”

In the next 12 months, Vacasa expects to achieve more than $1 billion in gross bookings and an excess of $500 million in net revenue.

Wyndham Destination shares were trading up 2.8% at $48.67 on Tuesday. The stock has a 52-week high of $48.43 and a 52-week low of $33.55.

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Posted-In: VacasaM&A News Travel General Best of Benzinga

 

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