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Wyndham buys Shell Vacations for $102 million

Stephen Holmes, Chairman and CEO of Wyndham Worldwide, speaks during the 2010 Reuters Travel and Leisure Summit in New York February 23, 2010. REUTERS/Lucas Jackson

Stephen Holmes, Chairman and CEO of Wyndham Worldwide, speaks during the 2010 Reuters Travel and Leisure Summit in New York February 23, 2010.

Credit: Reuters/Lucas Jackson

Fri Sep 14, 2012 8:58am EDT

(Reuters) - Hospitality company Wyndham Worldwide (WYN.N) said one of its units has bought privately held vacation company Shell Vacations LLC for $102 million in cash.

Wyndham Vacation Ownership will also assume $153 million of Shell Vacations' debt.

Shell Vacations, founded in 1978, manages 19 resorts in North America.

The deal is expected to add to Wyndham's earnings immediately.

Shares of the Parsippany, New Jersey-based company closed at $53.97 on the New York Stock Exchange on Thursday.

(Reporting by Mridhula Raghavan in Bangalore; Editing by Sreejiraj Eluvangal)
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