Capital Vacations buys Vacation Resorts International Americas

TUGBrian

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Capital Vacations has acquired Vacation Resorts International Americas (VRIA), which includes Vacation Resorts International (VRI), Trading Places International (TPI), and Owners’ Resorts and Exchange (ORE), from Marriott Vacations Worldwide (NYSE: VAC). In connection with the acquisition, Capital Vacations secured additional financing commitments from Hybrid Value funds managed by Apollo (NYSE: APO).
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Please see the full press release here: https://www.einpresswire.com/report/0BrfuwN8nRA8T8yc
 
Interesting stuff.
Capital Vacations has been doing a lot of expansion moves.
 
This was one of the outfits that Marriott Vacations Worldwide picked up when it bought ILG several years ago. They previously sold off VRI Europe. From what I understand, VRI is really just a resort management company. They don't really own any resorts or sell timeshare product and just manage smaller independant properties? It looks like Trading Places (TPI) goes with the deal too.
 
Oh, man. I just bought a VRI timeshare.
 
pedro47 said:
Is the Apollo investment company the same company that own shares in the acquisition between DRI and Hilton?
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Yes, but it looks like they may have only provided financing for this deal between Capital and VRIA.
 
I’ve owned at Gaslamp Plaza Suites for several years now (bought it for $2.35 on eBay). Capital has picked up several legacy resort management companies. I believe they sell a point package to use all the resorts in the system.

I rent my Gaslamp week for Comic Con every year so I won’t be playing the point game.
 
dioxide45 said:
This was one of the outfits that Marriott Vacations Worldwide picked up when it bought ILG several years ago. They previously sold off VRI Europe. From what I understand, VRI is really just a resort management company. They don't really own any resorts or sell timeshare product and just manage smaller independant properties? It looks like Trading Places (TPI) goes with the deal too.
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VRI is management only. TPI does management and exchange. It has been long rumored that MVC wanted to unload VRI.
 
buzglyd said:
VRI is management only. TPI does management and exchange. It has been long rumored that MVC wanted to unload VRI.
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Yeah. I didn't expect them to hold on to VRI forever given that they had sold off VRI Europe several years ago. I wonder how long they will hold on to Aqua-Aston.
 
VRI has their own exchange company called VRI*ety.
 
I owned two VRI managed resorts in Cocoa Beach over the years. I thought they did a great job. Only sold them because I moved to CO.
 
dioxide45 said:
Yeah. I didn't expect them to hold on to VRI forever given that they had sold off VRI Europe several years ago. I wonder how long they will hold on to Aqua-Aston.
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Capital already owns SPM and Defender so this will expand its portfolio of legacy resorts quite a bit.
 
Huge win for Capital. It will take them from about 60 resorts to 200 and provides a lot of access to the West and some in Hawaii. Something to keep an eye on.
 
Our Hollywood Sands Resort is managed by VRI.

This could be a positive for us. I noticed in a prior press release the they sold 10,000 weeks in 2021.

Also it could give those that bank with TPI more opportunity for trades.

I'm not familiar with Capital. Do they have a trading platform or points system?
 
Roger830 said:
Our Hollywood Sands Resort is managed by VRI.

This could be a positive for us. I noticed in a prior press release the they sold 10,000 weeks in 2021.

Also it could give those that bank with TPI more opportunity for trades.

I'm not familiar with Capital. Do they have a trading platform or points system?
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Not sure about a trading platform but they have a points system that they sell. I imagine they take back weeks from older owners and put them in a trust system.
 
buzglyd said:
Variety has been dead for several years now. Trading Places is/was the legacy exchange under that umbrella.
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I had no idea. Not that I have ever used it for my Foxrun weeks. I do know people who have used it.

What do we know about this big company that is absorbing these older resorts? What is the goal for this company?
 
rickandcindy23 said:
I had no idea. Not that I have ever used it for my Foxrun weeks. I do know people who have used it.

What do we know about this big company that is absorbing these older resorts? What is the goal for this company?
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Put all those resorts into the points system and sell sell sell.
 
Capital Vacations took over management of Coral Sands Resort in Cayman about the time that I purchased a unit from an owner. They processed the transfer documents, so we did not need to find an outside agent. They produced a good website for us to use to track our maintenance fee transactions and pending/banked weeks. We are not interested in joining the points club at this time, since we prefer to use this week annually. The addition of the VRI resorts to the pool, though, has me intrigued.
 
pedro47 said:
Is the Apollo investment company the same company that own shares in the acquisition between DRI and Hilton?
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Apollo was the primary owner of DRI prior to Hilton. As an investment firm, it was no surprise that they were more interested in selling DRI than operating it. Unlike many other investment firms, they didn't strip and sell assets to generate cash.
 
buzglyd said:
Variety has been dead for several years now. Trading Places is/was the legacy exchange under that umbrella.
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So VRI was the property management arm and Trading Places is the exchange company?
 
dioxide45 said:
So VRI was the property management arm and Trading Places is the exchange company?
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Yes and no. Trading places also has a handful of resorts that it manages. The VRI exchange I believe was just for VRI properties where Trading Places will take deposits from anywhere. It didn't make any sense to operate two legacy exchange companies and steering VRI exchanges to TPI likely helped the inventory at Trading Places.

It will be interesting to see if there are any "wind downs" at some of these properties. VRI has quite a few that are ripe for sunsetting. The dirt beneath the building is worth more than the building.
 
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