Wyndham has announced it has paid US$255 million for Shell Vacations and its subsidiaries. The sale includes US$153 million of debt primarily related to consumer loan receivables.

Wyndham Vacation Ownership is to assume management of the 19 Shell resort locations across North America including in Hawaii, California and Arizona, having bought privately-held Shell Vacations. Wyndham thus also takes over the Shell Vacations Club loyalty programme and all other sale, marketing and financial activites. Wyndham has paid approximately $102 million in cash for Shell's equity plus $153 million of the company's debt.“This tuck-in acquisition is immediately accretive to earnings and generates meaningful cash flow as well as a healthy rate of return. With strong fee-for-service revenues, this acquisition is consistent with our capital-light strategy,” said Stephen Holmes, Wyndham Worldwide chairman and CEO.