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Timeshare Financial News: October 7, 2017

It's Happy Hour at The GateHouse 

Did you hear the news? Word on TheStreet.com is that Marriott Vacations Worldwide has made a takeover bid for ILG, offering $30 per share.

You may recall that recent events had a majority shareholder of ILG basically threatening the company with a hostile takeover if ILG didn’t make itself BIGGER by acquiring a company such as Marriott Vacations. ILG said it was thinking about its options, and I’ve been halfway expecting an announcement that ILG would take the big gulp and swallow Marriott.

Silly me, it didn’t occur to me that the swallowing might be the other way around.

Marriott Vacations is already the world’s leading pure-play public timeshare company. And did you know that once upon a time Marriott Intl. was one of the owners of Interval International? Is that ironical? But I digress.

If such a merger should succeed (in either scenario – ILG gets Marriott or Marriott gets ILG), imagine the implications for the shared ownership industry. Either way you’d end up with all of Marriott Vacations’ assets, as well as ILG’s operating companies which include:

  • Aqua-Aston Hospitality
  • Hyatt Vacation Ownership
  • Interval International
  • Trading Places International
  • Vacation Resorts International
  • VRI Europe
  • Vistana Signature Experiences

Also, through its subsidiaries, ILG independently owns and manages the Hyatt Residence Club program and uses the Hyatt Vacation Ownership name and other Hyatt marks under license from affiliates of Hyatt Hotels Corporation. In addition, ILG’s Vistana Signature Experiences, Inc. is the exclusive provider of vacation ownership for the Westin and Sheraton brands and uses related trademarks under license from Starwood Hotels & Resorts Worldwide, LLC.

So which way do you think it’s most likely to go, if it goes at all? Marriott Vacations takes over ILG or ILG takes over Marriott? Either way the consolidation would be humongous and frankly, my dear, I don’t like it one bit.

Not that they care. pondering

Wyndham Worldwide Corporation will report third quarter 2017 results on Wednesday, October 25, 2017. Stephen P. Holmes, Chairman and Chief Executive Officer, and David B. Wyshner, Executive Vice President and Chief Financial Officer, will host a conference call with investors to discuss the results and business outlook at 8:30 a.m. ET that morning.

Listeners can access the webcast live through the Company’s website at www.wyndhamworldwide.com/investors/. The conference call may also be accessed by dialing 800-862-9098 and providing the passcode “WYNDHAM.” Listeners are urged to call at least 10 minutes prior to the scheduled start time. An archive of this webcast will be available on the website for approximately 90 days beginning at 12:00 p.m. ET on October 25, 2017. A telephone replay will be available for approximately 10 days beginning at 12:00 p.m. ET on October 25, 2017 at 800-688-7036.

Do you suppose they’ll address the speculation that the company will divide itself into two separate, stand-alone companies, with the timeshare/exchange/rental division as one entity and the hotel division as another? I’ll bet a nickel they will.

The Marcus Corporation will report results for the third quarter of fiscal 2017 prior to the stock market open on Thursday, October 26, 2017. The release will be followed by a conference call at 10:00 a.m. Central/11:00 a.m. Eastern time.

Participants may listen to the call live on the Internet through the investor relations section of the company’s website: www.marcuscorp.com, or by dialing 1-574-990-3059 and entering the passcode 95445737. Listeners should dial in to the call at least 5-10 minutes prior to the start of the call or should go to the website at least 15 minutes prior to the call to download and install any necessary audio software.

A telephone replay of the conference call will be available through Thursday, November 2, 2017, by dialing 1-855-859-2056 and entering passcode 95445737. The webcast will be archived on the company’s website until its next earnings release.

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