January 30, 2023

Florida's 350 Biggest Companies

Time to Share: Marriott Vacations and ILG merge

The merger of Marriott Vacations and ILG creates an industry giant with 650,000 timeshare owners and 108 properties.

Jason Garcia | 6/28/2018

Timeshare Behemoth

There’ll be a new name on Florida Trend's list of biggest publicly traded companies next year: Wyndham Destinations.

Lodging giant Wyndham Worldwide announced last year that it would split itself into two companies. The hotel business, to be called Wyndham Hotels & Resorts, remains based in New Jersey. The timeshare business, Wyndham Destinations, is headquartered in Orlando. (The separation was expected to be finalized by the end of June.)

Wyndham Destinations is the largest timeshare company in the world, with 221 resorts, 878,000 owners and more than $3.8 billion in annual sales. That dwarfs No. 2 Marriott Vacations Worldwide, which, when including ILG, did $2.9 billion in sales last year, and No. 3 Hilton Grand Vacations, which did $1.7 billion in sales. All three companies are based in Orlando.

Wyndham Destinations expects to reach $4 billion in revenue this year, which would rank it No. 26 on the list of Florida’s largest publicly traded companies.

Wyndham makes about threequarters of its money from timeshare sales and resort management and one-quarter from its RCI timeshare exchange business. The company is led by president and CEO Michael Brown, who came to Wyndham last year from Hilton Grand Vacations, where he had been COO.

 

See other stories from Florida Trend's July issue.

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Tags: Real Estate, 350 Biggest Florida Companies

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