New York Stock Exchange-listed membership and leisure travel company Travel + Leisure Co has acquired global hospitality group Accor’s Vacation Club portfolio, according to a press release dated March 4.

This means that Travel + Leisure Co will own, develop and market the vacation ownership brand based in Australia, New Zealand and Indonesia. Currently, the Accor Vacation Club serves 30,000 club members and manages 24 club resorts across these three countries.

The acquisition increases Travel + Leisure Co’s portfolio outside of North America to more than 100,000 members and 77 club resorts.

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As part of the agreement, Travel + Leisure Co can develop new vacation ownership clubs and products using the Accor Vacation Club brand across a region including Asia Pacific, the Middle East, Africa and Turkey.

President and managing director of international operations at Travel + Leisure Co Barry Robinson says that these are large consumer markets with growth potential. “Combined with Accor’s portfolio of hotel and resort brands which are already well-known and highly regarded by travellers in these regions, it makes them logical places for the future expansion of the Accor Vacation Club business,” he notes.

He adds that Travel + Leisure Co intends to operate and grow its vacation ownership businesses under other well-known brands such as Wyndham, Sports Illustrated and Margaritaville.

Currently, the firm oversees the development of Club Wyndham South Pacific and Club Wyndham Asia from its Asia Pacific headquarters in Singapore. Club Wyndham South Pacific and Accor Vacation Club were both launched on the Gold Coast in 2000 and are two of the largest vacation clubs in Australia and New Zealand.