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A Billion Dollar Threat to Marriott and Hyatt's Brand Reputation

A Billion Dollar Threat to Marriott and Hyatt's Brand Reputation
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A Billion Dollar Threat to Marriott and Hyatt's Brand Reputation

The Vacation Owner concept at Marriott and Hyatt seems to be a master of deception. A billion Dollar brand confusion conspiracy. ....

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Welk Resorts Enters Agreement For Sale To Marriott Vacations

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Marriott intends to rebrand the Welk resorts in California, Colorado, Missouri, New Mexico and Cabo San Lucas, Mexico, as Hyatt Residence Club properties. (Shutterstock / sockagphoto)
SAN MARCOS, CA Locally owned Welk Hospitality Group has entered into an agreement to sell the Welk portfolio of vacation resorts, programs and property management contracts to Marriott Vacations Worldwide Corp. for about $430 million, it was announced Tuesday.
It is bittersweet after 57 wonderful years of memories and accomplishments to be welcoming a new owner for Welk Resorts, said Jon Fredricks, Welk Resorts president, CEO and grandson of the late television bandleader Lawrence Welk, who started the Welk hospitality business when he bought a motel and nine-hole golf course north of San Diego in 1964. ....

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Family-Owned Welk Resorts Announces Pending Acquisition by Marriott Vacations Worldwide (MVW)

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SAN MARCOS, Calif., Jan. 26, 2021 /PRNewswire/ Welk Hospitality Group has entered into an agreement with Marriott Vacations Worldwide Corporation ( MVW ) (NYSE: VAC) to sell the Welk Resorts portfolio of vacation resorts, programs and property management contracts for approximately $430 million, including approximately 1.4 million MVW common shares. The acquisition is expected to close early in the second quarter of 2021.
Famous television bandleader Lawrence Welk, host of The Lawrence Welk Show from 1951 to 1982, and beloved namesake of Welk Resorts.
A Mountain Villas unit at Welk Resorts San Diego.
The late Lawrence Welk (standing) with son and current Welk Resorts’ board Chair Larry Welk (seated). ....

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