On January 21st, 2021, Marriott Vacations Worldwide announced it will be acquiring Welk Resorts. That acquisition was completed three months later, costing Marriot $485 million. The agreement also included 1.4 million MVW common shares. Welk Resorts boasts a high-quality portfolio of eight resorts and one hotel. As a result, it’s one of the largest privately owned vacation ownership companies in the U.S.. Welk Resorts’ existing resorts will be fully rebranded into the Hyatt Residence Clubs, as well as its points program. Once Welks Resorts and Hyatt Residence Club are combined, owners, members, and guests can access 24 vacation ownership properties. Overall, Marriot is proud to be the company that owns Welk Resorts.
The History of Welk Resorts
Welk Resorts was founded in 1964 by Lawrence Welk in Escondido, California. In fact, this is where you can find the very first Welk Resorts in San Diego. What once started as a small family-owned hotel quickly became a line of luxury resorts that will soon be under the massive Marriott Vacations Worldwide umbrella. Welk Resorts President and CEO Jon Fredricks said, “it is bittersweet after 57 wonderful years of memories and accomplishments to be welcoming a new owner for Welk Resorts. We are confident in MVW and its shared commitment to excellence. Our board and family recognized that its vision, resources , and globally-recognized brand ensure the best long-term future for our valued team members and Owners.” Both companies appear equally pleased about this decision.
With the acquisition complete, Marriot Vacations is confident about its next move. Stephen P. Weisz, Marriott’s Chief Executive Offer, praised the deal, stating that it “will increase our Hyatt Residence Club footprint by 50%.” Today, Welk Resorts consists of eight resorts and one hotel located in highly desirable vacation spots. These properties expand all the way from the west coast seas to the snow-capped mountains. The resorts offer Welk experiences, including exciting golf courses. Perfect for vacationers looking to tee off in style. Once acquired, all nine properties will be rebranded and part of the Hyatt Residence Club portfolio. Although Welk Resorts will soon be a part of Marriott Vacations Worldwide, the legacy that Lawrence Welk created will live on. The Lawrence Welk Family Foundation, which funds nonprofit organizations serving families in need, will be continued to be carried out by the Welk Family.
A Big Opportunity for Growth once Marriott Vacations Worldwide acquires Welk Resorts:
Marriot Vacations is optimistic about the opportunities that may come with this deal. Overall, these opportunities include:
- Rebranding Welk Resorts will more than double the number of Hyatt Residence Club Owners from currently 33,000 to an estimated 90,000.
- High-quality and complementary resort options primarily in West Coast vacation markets.
- Expect to increase Welk’s contract sales and margins substantially.
- Opportunity to expand Hyatt Residency Club footprint by 50%.
It’s clear that Marriot Vacations has put a lot of thought into this move, and now they’re ready to reap the rewards. Curious to hear about their timeshares? Then visit our various Marriott blogs to learn more about Marriott’s current selections. We will tell you more about resorts owners love from Hawaii all the way to Europe. In the meantime, read on to learn about Welk Resorts’ new home.
Who Owns Welk Resorts?
In 1984, Marriott Vacations became the first hospitality brand to enter the timeshare industry. That year, they acquired American Resorts and its first vacation ownership resort, Marriott’s Monarch. Since then, Marriot Vacations has greatly expanded. Within a decade, they acquired a resort in Spain and grew their influence in Europe from there. Afterward, they found a foothold in Asia through Phuket, Thailand. As part of their commitment to improvement, Marriot introduced a new points-based program in 2010. This program gives owners and members even more flexibility in vacation experiences. Throughout their expansion, they have worked to provide a quality experience. Marriott’s acquisition of Welk Resorts is one more step towards that goal. The two companies share a desire for excellence that will lead to a bright future for both.
Sell Your Welk Resort Timeshare
If you’re thinking of selling your Welk Resort Timeshare, you can post it for sale on the resale market. Timeshares Only is a member of the American Resort Development Association and accredited by the Better Business Bureau. As a timeshare advertising company, our representatives will create an eye-catching posting of your Welk Resorts ownership. With advanced technology and marketing skills, we use various methods to put your timeshare in front of the right eye. Visit our blog to learn more about how to sell your Welk Resorts Timeshare!