The addition of VRIA further solidifies Capital Vacations’ position as the leader in the independent resort market.
— Matt Michelini and Rob Ruberton, Co-Heads Hybrid Value, Apollo
MYRTLE BEACH, SC, UNITED STATES, May 2, 2022 /EINPresswire.com/ — Capital Vacations, LLC. announced today that it has acquired Vacation Resorts International Americas (VRIA), which includes Vacation Resorts International (VRI), Trading Places International (TPI), and Owners’ Resorts and Exchange (ORE), from Marriott Vacations Worldwide (NYSE: VAC). VRI is one of the largest independent resort management companies in North America serving nearly 230,000 members and TPI operates a robust travel platform that offers travel services and exchange benefits for over 200,000 members.
“We are excited to partner with the VRIA team to further enhance the services and vacation products it offers to its valuable owners and resorts,” said Jason Shroff, CEO of Capital Vacations. “VRIA is a great business with strong long-term relationships and a dedicated team. We look forward to working together to enrich the vacation experience for all our guests.”
The addition of VRIA further solidifies Capital Vacations’ position as the leader in the independent resort market with the combined company now serving over 200 independent resorts and nearly 400,000 owners across the U.S., Mexico, and the Caribbean. Capital Vacations, where requested, will leverage its increased scale to offer improved services to the resorts and enhanced travel products to the members and guests. The company has proven revenue-producing tools including their industry-leading Capital Advantage suite of programs. The Capital Advantage delivers more travel options, improved financial results, and exemplary service for its resorts.
In connection with the acquisition, Capital Vacations secured additional financing commitments from Hybrid Value funds managed by Apollo (NYSE: APO).
Apollo Partners and Co-Heads of Hybrid Value, Matt Michelini and Rob Ruberton, said, “We are pleased to support Capital Vacations’ acquisition of VRIA and their continued growth as they scale in key geographies and enhance member offerings. The company’s innovative approach to travel memberships is creating a differentiated marketplace in the travel industry that we believe is unique and valuable. This is one of several investments Hybrid Value funds have made in Capital Vacations since 2018, demonstrating our ability to serve as a long-term, value-added capital partner to great companies.”
ABOUT CAPITAL VACATIONS
Capital Vacations is reimagining the travel experience by connecting independent resorts with travelers through our technology platform and vacation products. We partner with over 200 independent resorts across the U.S., Mexico, and the Caribbean, by deploying strategic value-add processes and tools that allow independent resorts to increase revenues across multiple channels. In addition, we service over 1 million travelers a year with a hyper-focus on the owner and guest travel experience and creating long-term relationships.
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Article originally published at https://www.einpresswire.com/article/570632386/capital-vacations-acquires-vri-americas-from-marriott-vacations-worldwide
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