Wyndham Worldwide Shells Out $102M For Resort Owner

Law360, New York (September 14, 2012, 5:01 PM EDT) -- New Jersey hospitality company Wyndham Worldwide Inc. has acquired Illinois-based vacation ownership and property management group Shell Vacations LLC for $102 million in cash, Wyndham said Friday.

The Parsippany, N.J.-based hotel and resort bought privately held Shell Vacations through its subsidiary Wyndham Vacation Ownership. The deal includes the assumption by the Wyndham subsidiary of $153 million in Shell Vacation's debt, which is primarily related to consumer loan receivables.

Wyndham will assume property management operations at Shell Vacation's 19 resort locations in eight states and Canada. The...
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