Sounds interesting, but current owners haven't been told anything.
I'm not sure what exactly what impact it woud have. Some owners are part of their points system, and those are the ones likely to end up part of Festiva. But many also own deeds - and managemnt at those resorts would have to contract with the HOA, so there many not be big changes. It's more likely to increase the number of options for points owners, and to add some Escapes inventory to Festiva's portfolio.
It looks like Festiva is trying to expand via aquisitions, rather than building new resorts. In my mind, that's a good model for the owners - rather than overbuilding in the "top" vacation areas, and reducing existing trade power.
I do wonder what type of offer will be made to exisitng deeded owners at the resorts. Escapes is the management company at Tropical Breeze, but not the original developer. They own a percentage of the deeds, which they now sell as part of their points program, so that inventory could go to Festiva, but Festiva isn't guaranteed to keep the management contract over time.