Wyndham Vacation Ownership announced Friday that it has closed a deal to acquire Shell Vacations LLC, including seven upscale properties in Hawaii.
Wyndham, which has 709 Hawaii employees, will pay Shell $102 million in cash and assume $153 million in debt for the properties
ON VACATION
Shell Vacations Hawaii properties include:
>> Waikiki Marina Resort at the Ilikai.
>> The Cliffs Club, Princeville, Kauai.
>> Kauai Coast Resort at the Beachboy, Kapaa, Kauai.
>> Lawai Beach Resort, Koloa, Kauai.
>> Paniolo Greens, Waikoloa, Hawaii island.
>> Kona Coast Resort, Kona, Hawaii island.
>> Holua Resort at Mauna Loa Village, Kona, Hawaii island.
Source: shellvacations.com
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"Hawaii is really on the top of most people’s bucket lists, so being able to expand a presence in such a highly desirable destination is an exciting time for our company," said Wyndham spokeswoman Lisa Burby. "We’re just very excited for this opportunity to leverage our resources and our combined strengths."
The subsidiary of New Jersey-based Wyndham Worldwide will take over property management operations at 19 Shell resort locations on Oahu, Kauai and Hawaii island, as well as California, Arizona, Nevada, Oregon, Wisconsin, Texas, New Hampshire and Canada. Shell locally employs 434 people.
Wyndham also will now operate Shell Vacations Club, a points-based reservation and exchange system, as well as marketing, sales and financial services activities of Shell.
Although Wyndham is acquiring the company, the Shell brand will remain in the islands, Burby said.
"It will still be a resort for Shell Vacations in Hawaii," she said. "Employees in Hawaii will still serve in a resort management capacity. Resort names are not changing. Everything will remain as is inâHawaii."
Wyndham operates 22 time-share resorts under the brands WorldMark and Club Wyndham in the islands.
