Marriott Vacations Will Buy ILG Inc. for $4.7 Billion
At the end of April, Marriott Vacations Worldwide Corp. announced its decision to purchase ILG Inc. for around $4.7 billion in a stock and cash deal later in 2018. This merge will make Marriott one of the largest luxury brands for timeshare vacation resorts in the world and is believed to create $75 million in annual savings within just two years.
Included in this transition are shareholder changes. ILG shareholders are to recieve $14.75 in cash and 0.165 shares of Marriott Vacations Worldwide stock for each ILG they own. Marriott will also extend their eight person board to include two ILG directors. This decision follows hotel chain Marriott International’s acquisition of Starwoods Hotels & Resorts Worldwide Inc. in 2016 and will help create even more connections between their hotels and vacation ownership programs as Marriott Vacations can sell points to Marriott Reward program members.