[2019] Marriott Vacations Worldwide Corporation sold its stake in VRI Europe Limited

[DannyTS]

"On December 21, 2018, a subsidiary of Marriott Vacations Worldwide Corporation (“Marriott Vacations Worldwide”) completed the disposition of its 75.5% interest in VRI Europe Limited to an affiliate of the minority shareholder, CLC Resort Management Limited (“CLC”) for $63 million. In connection with the transaction, Interval International entered into a long-term extension of its global affiliation agreement with CLC Resort Developments Limited for mixed-use holiday products under its Club La Costa World (CLC World) brand."

(UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 8-K, December 21, 2018)

 

[mjm1]

This appears to be the first piece of ILG that MVC has decided to sell. It will be interest to see what else, if anything, they will decide doesn’t fit their overall business strategy.

Best regards.

Mike

 

[DannyTS]

This appears to be the first piece of ILG that MVC has decided to sell. It will be interest to see what else, if anything, they will decide doesn’t fit their overall business strategy.

Best regards.

Mike

It makes a lot of sense to divest the non-core brands and get back some of the cash they spent on the acquisition.

 

[Venter]

When we were first introduced to timeshares we went to Costa del Sol with CLC and bought. I was not sure and in those days(we had dial up internet) about the purchase(the sale felt too pressured) but there was a European site just like Tugg that had a lot of chatter about how bad CLC was. We recinded but knew we liked the concept. We then went to Malorca with Marriott and bought into the system feeling that at least such a well known organization would not let us down. We had many great vacations so far and continue to make wonderful memories. Yes we paid way too much. We did buy Lake Shore retail some years later when it was being sold from plans and got 25% discount. Still way too much but at the time I did not know about Palm Desert properties being two seperate 1 bed lock offs and have used the greater trading power of a 1 bedroom over a studio to our advantage for some great trades. Everytime with family and friends in tow. I will be honest and say that I am unsure if I would do the same or buy resale if I could do it again because the memories and opportunities we got from our ownership has been worth it. We also bought 1000 points recently to get to executive level and am not sorry as we have done quite a few last minute reservations making use of the discounts and also being platinum which benefits my DW greatly as she travels extensively for work. I would however caution anybody else about the cost to buy in these days and whether it is a good fit for them as you do have to work at getting the most out of ownership. Maintenance fees are also becoming more prohibitive.

On the other hand I have acquired some free weeks and points into Vistana as we will mainly use these to travel closer to home and do not mind not having all the benefits of full retail owners.

I have followed CLC on and of and found this sell off interesting.

 

[Mr. Phil]

Marriott recently sold their interest in VRI.

 

[dioxide45]

Marriott recently sold their interest in VRI.

Yes, that is being discussed in another thread;

Capital Vacations buys Vacation Resorts International Americas

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...

tugbbs.com

 

[SueDonJ]

Moderator Note: Closing this old thread while the discussion continues in the one linked in the post above.