Marriott Vacations Worldwide Corporation, a leading global hospitality company based in Orlando, Florida, successfully completed the US$845 million acquisition process for Welk Resorts Group, a luxury resort network from San Marcos, California.
The acquisition will add at least eight upscale resorts located on the West Coast and other Welk Resorts owned assets spread across the US to the Marriott Vacations group. However, post-acquisition, the resorts in the Welk Resorts chain will likely be renamed.
“This acquisition provides us with substantial future growth opportunities and, once all final approvals are obtained and the resort is renamed, will increase the Hyatt Residence Club footprint by as much as 50%,” said Stephen P. Weisz, CEO of Marriott Vacations Worldwide Corporation.
Welk Resorts opened its first resort in 1984 in San Diego—which currently sits on 450 hectares of land. The resort offers guests and owners a variety of attractive facilities during their vacation. When combined with the Hyatt Residence Club, the resort is believed to be increasingly crowded with visitors.