Foley & Lardner LLP is serving as lead timeshare and exchange counsel on behalf of Marriott Vacations Worldwide (VAC.N) in its merger with Interval Leisure Group (ILG.O).
The deal, which was announced today, will combine two of the premier global timeshare and vacation experience companies to create a more diversified company with significantly enhanced marketing potential and scale. The transaction will create a leading global upper-upscale and luxury vacation ownership and exchange company, which will have over 100 vacation ownership properties around the world and approximately 650,000 owners. The combined company will be the global licensee of seven upper-upscale and luxury vacation brands, including Marriott Vacation Club, Grand Residences by Marriott, Ritz-Carlton Destination Club, Sheraton Vacation Club, Westin Vacation Club, St. Regis Residence Club and Hyatt Residence Club. The combined company will also be a leading provider of premier exchange networks, which currently comprise nearly two million members and more than 3,200 resorts worldwide.
Foley & Lardner LLP partner Bill Guthrie led the team of attorneys in this effort and was assisted by partners Dan Bachrach and Matt Jassak.