Wyndham Destinations has offloaded its last Vacation Rentals division to Vacasa for $162 million.
The deal is a combined package of $45 million cash at closing and $30 million in Vacasa equity, plus the remaining balance in seller financing or cash.
Vacasa hopes to finalize the acquisition over the course of the next five months.
The sale comes 18 months after Wyndham Worldwide sold its European vacation rental business to Platinum Equity for $1.3 billion.
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That unit, which includes brands such as Hoseasons, James Villas, Landal GreenParks and Novasol, became Awaze earlier this year.
Vacasa says the addition of the other Wyndham rental division will give it 23,000 properties worldwide, covering continental Americas, Europe and Africa.
Brands in the acquisition include Hatteras Realty, ResortQuest, Kaiser Realty, Corolla Classic Vacations and Vacation Palm Springs.
Wyndham claims it received "strong interest from multiple parties" during the strategic review it conducted ahead of selling the business.
CEO Michael Brown says: "We determined that selling Wyndham Vacation Rentals is the best option to return value to shareholders and enable the long-term growth of our company through vacation ownership and exchange.
"We remain so confident in the future of this business and the benefits of a long-term relationship with Vacasa, that we will have an equity interest in Vacasa after the sale."
Full integration of the two platforms is expected to take up to 18 months to complete, the companies say.
Founder and CEO of Vacasa, Eric Breon, says: "We are excited to partner with the pioneering company in the short-term rental industry that helped make vacation homes popular for so many families around the world.
"Combining Wyndham Vacation Rentals’ decades of operational excellence with Vacasa's next-generation technology will deliver the industry's best vacation rental experiences."
In The Big Chair
Eric Breon of Vacasa.