PARSIPPANY, NJ-Wyndham Worldwide, headquartered here, ispurchasing ResortQuest for $56 million. The acquisition, expectedto close in the third quarter, will bring Wyndham’s total forvacation rental properties to 85,000 throughout 100 countries.

"Since 2000, we have successfully acquired at least 30 Europeanrental brands, creating what today represents the leading servicedrentals business in Europe, with 2009 revenues of $460 million,”says Stephen P. Holmes, chairman and CEO, Wyndham Worldwide, in astatement. “Building upon this success, the acquisition ofResortQuest gives us a unique opportunity to build a sizable growthplatform in the US rentals market, a $10-billion industry thatcurrently lacks a significant player.”

Fort Walton, FL-based RealQuest provides full-service vacationcondominiums and rentals and will add 6,000 properties to Wyndham’sportfolio. Wyndham Worldwide operates a variety of brands includingSuper 8 Motels, Travelodge, Wingate Inn, Howard Johnson, WyndhamHotel & Resorts and Days Inn. Wyndham did not returnGlobeSt.com inquiries by deadline.

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