Accor Vacation WA assets in new ownership
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Three Western Australian hotels and resorts are under new ownership after US-based Travel + Leisure Co acquired Accor Vacation Club for $U48.4 million.
Travel + Leisure Co acquired the vacation ownership arm of hospitality group Accor for $U48.4 million, roughly equivalent to $A73.42 million.
Accor Vacation Club comprises 24 properties around the world and three in WA, being The Sebel Swan Valley, The Sebel Busselton, and Grand Mercure Basildene Manor in Margaret River.
Under the deal, Accor will receive a percentage of vacation ownership sales revenue as a licensing fee while US-based Travel + Leisure Co has exclusive rights to develop new vacation clubs.
Travel + Leisure Co international operations president and managing director Barry Robinson said the company was excited to be building on the legacy of Accor Vacation Club.
“We are a partner of choice for leading hospitality brands because we are able to individually curate their brands and maintain their unique offerings to travellers,” he said.
“Utilising our experience and the scale of our global platform, we will be able to accelerate the growth of this vacation club business by delivering outstanding vacation experiences for current and future members.”
Accor MEA – APAC chief executive officer Duncan O’Rourke said the agreement highlighted the company’s ongoing business evolution.
“The transaction is aligned with our asset-light strategy and allows us to monetise our existing business and enhance recurring fee streams, supporting the continued growth of our franchised hotel network across Asia Pacific,” he said.
“By selling the business to a trusted and proven operator with significant scale, we will be able to grow the business and continue to drive outstanding hospitality experiences for Accor Vacation Club members.”
With the addition of Accor Vacation Club, Travel + Leisure Co said its club resort portfolio increased by 40 per cent to 77 venues and its membership grew to more than 100,000 in the Asia Pacific region.