Wyndham Worldwide’s Exchange & Rentals division has agreed to acquire ResortQuest, a provider of full-service vacation rentals in the United States.
The acquisition price is approximately US$56 million, and the all-cash transaction is expected to close by the end of the third quarter. With the acquisition, Wyndham becomes the world’s largest full-service vacation rental business, providing access to more than 85,000 vacation properties in approximately 100 countries.
ResortQuest will provide a strong platform for the company’s expansion into the U.S. serviced vacation rentals market, Wyndham says.
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