WASHINGTON — Marriott Vacations Worldwide agreed to acquire Miami-based timeshare broker ILG Inc. in a cash and stock deal valued at $4.7 billion.
ILG offers timeshare owners a brokerage service that lets them swap their timeshare intervals for stays at more than 3,200 resorts. The company also has more than 40 properties in its own Vistana Signature Experiences and Hyatt Vacation Ownership portfolios.
ILG has 250,000 owners in its timeshare ownership portfolio. Its exchange network has nearly 2 million members.
When the acquisition closes, Marriott Vacations Worldwide will be the leader in the timeshare industry, with seven upper-upscale and luxury and vacation brands, including Marriott Vacation Club, Grand Residences by Marriott, Ritz-Carlton Destination Club, Sheraton Vacation Club, Westin Vacation Club, St. Regis Residence Club and Hyatt Residence Club.
