ORLANDO, Florida, August 8, 2019 / PRNewswire / – RCI, the world’s largest vacation exchange network part of Wyndham Destinations (NYSE: WYND), today announced the acquisition of the Alliance Reservations Network (Alliance) travel technology platform for $ 92 million. This strategic acquisition will accelerate RCI’s growth through an enhanced B2B experience for members and affiliates, as well as bring new benefits to the individual and group travel, events and corporate meeting market. Alliance’s highly configurable and intelligent booking platform will also enable RCI to offer travelers a wide range of travel and lifestyle ancillary services through the provision of a booking engine, inventory , optimized content and pricing resources.
The acquisition of the distribution capacities of closed user groups (“CUG”) and Alliance’s group reservation platform, Group Productivity Solution (GPS), paves the way for RCI to open a new era of tailor-made travel services through its vertical integration and full customer base. accomplishment. Alliance’s capabilities are expected to provide more accommodation options and comprehensive travel solutions to RCI affiliates and portfolio brands, such as the Love Home Swap home membership network and DAE exchange network.
With Alliance, RCI will extend its reach beyond the core vacation exchange business through new affinities and business partners, while also offering premier white label services to existing affiliates. The technology of the platform gives RCI an unprecedented ability to deliver a world of experiences. Ideal for the modern traveler, these ‘door-to-door’ services will benefit current and future RCI members and travelers around the world with options for transportation, transfers, excursions, car rentals and benefits. distinctive features such as additional access to premium inventory and travel. experiences in highly sought after locations.
âThe strategic expansion of our travel products and services is vital to the evolution and growth of RCI, both within and beyond the timeshare industry. The acquisition of Alliance and its leading edge reservation technology allows us to diversify our product line to better serve our member and affiliate base, increase revenues and drive growth, âsaid Olivier Chavy, president of RCI. âEnriching RCI’s travel portfolio with a wide array of new services aligns with our vision of putting the world on vacation in a way no other company can. This acquisition will enhance the satisfaction of our customers thanks to their increased access to a diversified travel offer. products and services.”
Throughout its 45 year history, RCI has pioneered innovation in the travel industry. The company invented the concept of vacation swapping in 1974, providing members with increased flexibility and versatility with their vacation ownership experience. Today, RCI offers its 3.8 million members access to more than 4,300 affiliate stations in approximately 110 countries.
Alliance has been at the forefront of online travel booking since 1995. The company’s technology powers thousands of partner sites and more than 120 million end customers.
“With the CEO Peter Bertenshaw and all of our staff, I am incredibly honored and thrilled to join one of the travel industry’s most prestigious companies, RCI, âsaid Peter Strack, President of Alliance Reservations Network. âAlthough we have had great success, we are looking forward to doing more. Going forward, we will continue to assume our current roles to maximize the full potential of this acquisition. Our commitment to innovation, combined with RCI’s global leadership, creates unprecedented synergies. and allows us to drive the evolution of the customer experience through travel technology. “
The acquisition, which Wyndham Destinations expects to generate profits in its first full year, consists of $ 45 million in cash and $ 12 million in equity at closing and $ 22 million in cash and $ 13 million in equity over the following 24 months.
Houlihan Lokey acted as the exclusive financial advisor to Alliance Reservations Network with Snell & Wilmer LLP as legal advisor and Somerset CPA as tax advisor in connection with the transaction. Lowndes Law served as legal counsel to Wyndham Destinations.
RCI is the global leader in vacation exchange, home to a unique portfolio of brands. RCI pioneered the vacation exchange concept in 1974, providing members with increased flexibility and versatility with their vacation ownership experience. Today, through RCI WeeksÂ® program, the exchange system week by week and RCI PointsÂ® program, the industry’s premier global points redemption system, RCI provides its approximately 3.8 million members with access to more than 4,300 affiliated resorts in 110 countries. RCI’s luxury exchange program, The Registry CollectionÂ® is the largest program of its kind in the world with approximately 200 affiliate properties available for exchange or under development on six continents. RCI’s brand portfolio also includes Love Home Swap, one of the world’s largest home swap programs, DAE, a direct member swap company, and @Work International, a leading provider. property management systems. RCI is part of Wyndham Destinations (NYSE: WYND). For more information, visit our media center or rciaffiliates.com. RCI is also available on Facebook, YouTube and Twitter.
About Wyndham Destinations
Wyndham Destinations, Inc. (NYSE: WYND) believes in putting everyone on vacation. As the world’s largest vacation ownership and exchange company, Wyndham Destinations offers everyday travelers the opportunity to own, exchange or rent their vacation experience while enjoying the quality, flexibility and value that Wyndham offers. The company’s global presence in approximately 110 countries means more vacation choices for its four million member and family owners, with more than 220 resorts offering a contemporary take on the timeshare model – including club brands. vacation Wyndham ClubÂ®, WorldMarkÂ® by Wyndham, and Margaritaville Vacation ClubÂ® by Wyndham – 4,300+ affiliated stations across RCI, the world leader in vacation exchange and 9,000 rental properties coast to coast Vacation rentals, a professional vacation rental property manager. Year after year, a global team of 25,000 associates deliver exceptional vacation experiences to families around the world as they create lasting memories. At Wyndham Destinations, our world is your destination. Learn more about WyndhamDestinations.com. Join us on Twitter: @WynDestinations; Facebook: @WyndhamDestinations; Instagram: @WyndhamDestinations; Youtube: @WyndhamDestinations; and LinkedIn:@WyndhamDestinations.
About the Alliance Reservations Network
Since 1995, Alliance Reservations Network has created cutting edge technology services for private label travel booking engines, generating billions of dollars in travel revenue for travelers around the world. As one of the premier providers of internet travel booking engine platforms, Alliance has powered thousands of affiliate travel sites and created proprietary software to serve individual leisure, corporate, travel and travel customers. associations, groups and events around the world. Learn more at www.alliancereservations.com.
This press release includes “forward-looking statements” as that term is defined by the Securities and Exchange Commission (“SEC”). Forward-looking statements are all statements other than statements of historical fact, including statements regarding our expectations, beliefs, hopes, intentions or strategies regarding the future. In some cases, forward-looking statements can be identified by the use of words such as “may”, “will”, “expects”, “should”, “believes”, “plans”, “plans”, ” estimate â,â predicted â,â potential â,â continue â,â future âor other words with similar meaning. Forward-looking statements are subject to risks and uncertainties that could cause our actual results to differ materially from those discussed in, or suggested by, the forward-looking statements. Forward-looking statements contained in this press release include statements about our plans and strategies and future events, including Wyndham Destinations’ expectations with respect to RCI’s future growth and revenues as well as the impact on earnings of Wyndham Destinations resulting from the acquisition of Alliance Reservations Network among others. These forward-looking statements are subject to a number of risks, uncertainties and other important factors, many of which are beyond the control of management, which could cause actual results to differ materially from the forward-looking statements contained herein. this press release, including but not limited to: (1) our ability to execute our strategy; (2) the risk that the acquisition of Alliance Reservations Network will not prove to be successful and may lead to operational difficulties; and (3) other risks, uncertainties and factors set out in the section entitled âRisk Factorsâ in Wyndham Destinations’ latest available annual report on Form 10-K, as these risks, uncertainties and factors may be updated in Wyndham Destinations periodic reports. SEC filings. Although Wyndham Destinations believes these statements are based on reasonable assumptions, it cannot guarantee future results and readers are cautioned not to place undue reliance on these forward-looking statements, which reflect the views of management only as of the date of. this press release. Except as required by law, Wyndham Destinations assumes no obligation to update or revise forward-looking statements to reflect new information or events or circumstances that occur after the date of this press release or to reflect the occurrence of unforeseen events or otherwise.
SOURCE RCI; Wyndham Destinations