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.
What Does This Mean for ILG and Marriott Owners?
ILG Inc. brings over 250,000 owners to the merge and encompasses a number of popular timeshare brands, including the Vistana Signature network, Interval International, and Hyatt Vacation Ownership program. Once the purchase is complete, the combined company will have around 650,000 owners, seven luxury brands, their exchange and rental network, 180 properties, and will have the rights to develop, market, and sell timeshares at Hyatt locations under their vacation ownership division through their World of Hyatt loyalty platform.
This impressive portfolio will only continue to grow as they encompass the hotel reward programs offered through Marriott Rewards and Starwood Preferred Guest (SPG). ILG and Marriott owners will gain access to Marriott Rewards, SPG, and Ritz-Carlton Rewards which will soon transform into a unified rewards program with one point system that has yet to be named. From here, guests will have the ability to utilize their converted and new points at their 29 global brands which includes 6,500 hotels in 127 countries. It won’t be until early 2019 that this newly merged company will have a single reservation system and detailed points charts to make the booking process even easier.
Interested in Marriott Vacations Timeshare Ownership?
The time to invest in a Marriott or ILG timeshare is now. Browse our inventory of timeshare resales and rentals until you find the perfect unit and destination. When you’re ready to take the next step, you can call our timeshare specialists at (877) 815-4227 to get started on making an offer on your next home away from home.