Wyndham Worldwide (NYSE:WYN) today announced that Wyndham Vacation Rentals, the world’s largest full-service vacation rentals business, has acquired substantially all of the assets of The Resort Company LLC (TRC), an established vacation rental and property management company and the owner of prestigious brands such as Steamboat Resorts. TRC is a portfolio company of Tonka Bay Equity Partners.
All of the TRC resorts will join the Wyndham Vacation Rentals portfolio which includes more than 25 established brands across the world including ResortQuest by Wyndham Vacation Rentals, the leading provider of full-service vacation homes and condos in the U.S. The acquisition increases Wyndham’s global vacation rental collection by approximately 1,000 rental units to nearly 94,000 properties in over 500 unique destinations worldwide, effectively doubling its presence in the high-end western U.S. ski market.
“The leadership and valued associates of The Resort Company and Steamboat Resorts have cultivated an impressive portfolio and business over the past 32 years that immediately expands Wyndham Vacation Rentals’ presence in areas where we already operate while adding the highest quality resort properties the Vail Valley region has to offer,” said Geoff Ballotti, president and CEO, Wyndham Exchange & Rentals. “This acquisition, similar to our three acquisitions last year of James Villa Holidays, The Hoseasons Group and ResortQuest, underscores our commitment to continue expanding our global leadership position within the fully-serviced vacation rentals market.” [member]
TRC and Steamboat Resorts are known for their many exclusive rental offerings across 28 destination mountain resorts in Colorado like Lion Square Lodge and Montaneros in Vail; The Lodge at Steamboat, Trailhead Lodge at Wildhorse Meadows and Dulany in Steamboat Springs; The Charter at Beaver Creek; and BlueSky Resort in Breckenridge. These luxury residences offer guests hotel-style services and world-class resort amenities, all with the conveniences of home such as full kitchens, fireplaces and washers and dryers.
“We are extremely excited to introduce our homeowners, guests and associates to Wyndham, an organization with unprecedented size, scope and distribution in the vacation rental market,” added Bob Milne, president & CEO of The Resort Company. “From check-in to check-out, we will continue to deliver the high-end, hotel-style services that have differentiated us from the competition and that our guests have come to expect. And as the newest member of the Wyndham family, we will leverage our relationship with this hospitality leader to provide increased value to our owners while adding to the overall vacation experience we offer to our guests.” [/member]