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Wyndham acquires Hoseasons for $60m
Wyndham Worldwide’s Exchange & Rentals business unit has agreed to acquire Hoseasons Holdings from HgCapital and a number of individual parties.
Published: 23 Feb 2010
Wyndham Worldwide’s Exchange & Rentals business unit has agreed to acquire Hoseasons Holdings from HgCapital and a number of individual parties.
The acquisition price is approximately $60 million, net of estimated cash acquired.
The transaction is subject to the consent of the Financial Services Authority (FSA), which the companies hope to obtain before the end of the first quarter. Wyndham Worldwide expects this acquisition to be accretive in 2011.
Hoseasons provides a wide range of holiday offerings in over 15,000 lodges, cottages, villas, caravans and boats across seven European countries.
“The purchase of Hoseasons is a great example of how we are deploying a portion of our free cash flow to supplement organic growth with opportunistic acquisitions” said Stephen P. Holmes, chairman and CEO, Wyndham Worldwide.
He added that Hoseasons offers “a strong strategic fit” with Wyndham’s European rentals business and “an attractively-priced opportunity to continue to grow our fee-for-service businesses”.
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