Wyndham Vacation Ownership has announced that they will be acquiring Shell Vacations LLC for $102 million in cash and will assume $153 million of Shell’s debt. In return, Wyndham Vacations will receive a total of seven properties in Hawaii including the Waikiki Marina Resorts at the Ilikai on Oahu, three hotels on Kauai and three hotels on the Big Island of Hawaii. Lisa Burby, the spokeswoman for Wyndham, stated, “Hawaii is really on the top of most people’s bucket lists, so being able to expand a presence in such a highly desirable destination is an exciting time for our company. We’re just very excited for this opportunity to leverage our resources and our combined strengths.”
According to Burby, the Shell brand will still remain in Hawaii. Burby stated, “It will still be a resort for Shell Vacations in Hawaii. Employees in Hawaii will still serve in a resort management capacity. Resort names are not changing. Everything will remain as is in Hawaii.”
Source: Honolulu Star Advertiser, 9-15-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
