Westgate Resorts has signed a definitive agreement to acquire Vacation Ownership Sales (VOS), which has the exclusive management, sales and marketing rights for VI Resorts, an owner-controlled timeshare and vacation club in North America.
Expected to close this year, the deal will see Westgate assume management of VI Resorts' points-based Vacation Club, which has a portfolio of more than 40 domestic and international resorts and destinations.
The acquisition will incorporate highly sought-after destinations in the US, including Hawaii, Mexico, and Canada.
Westgate Resorts stated that it is committed to enhancing the VI programme with a $4m investment in marketing, branding and technology improvements, as well as additional benefits for owners.
Westgate Resorts' CEO Jim Gissy said: "We look forward to working with the VI Resorts Owners to help enhance their Vacation Club, bring exciting new Westgate destinations into the VI Club and create new and diverse vacation product offerings for our existing Owners at Westgate."
Upon completion of the acquisition, VOS owner and president Mike Vasey will join Westgate's executive team.
Vasey commented on the natural synergy between the companies: "This acquisition will lead to so many product synergies and collaborative opportunities." He also mentioned the combined 90 years of history between the companies.
The partnership with Westgate will enable VI Resorts' owner-led board to utilise Westgate's management expertise to enhance resort operations and offer new destinations for VI owners.
It also offers Westgate and VI owners the opportunity to exchange their ownership time for stays at each other's locations through their Interval International membership.
Betty Flad, president of the VI Owners Association (VIOA) board, noted the benefits of the partnership, including the ability for VI Club to remain independent while gaining access to Westgate's extensive resources.
This move follows Westgate's recent partnership with Choice Hotels and is part of its strategic plan to grow its core timeshare business.
