NEW YORK CITY-Manhattan-based real estate and travel services firm Cendant Corp. and Greenwich, CT time-share developer Equivest Finance Inc. have signed an agreement for Cendant to acquire all of Equivest’s outstanding stock for $3 per share in cash or roughly $85 million. Equivest will also turn over its preferred stock to Cendant for about $13 million. Cendant will also assume approximately $60 million of Equivest corporate debt.

Equivest, which markets and sells timeshare services and ownerships, will be folded into Cendant’s Fairfield Resorts brand. Aside from ownership interests at 29 resort facilities, located primarily on the Eastern Seaboard and in the US Virgin Islands, Equivest also operates a finance company specializing in consumer timeshare loans. More than 85,000 Equivest timeshare interests have been sold and an additional 20,000 borrowers have arranged financing through Equivest for ownership in unaffiliated resorts.

Cendant’s 60,000 employees provide real estate and travel services to businesses and consumers in more than 100 countries. Its subsidiary, Fairfield, is considered the world’s largest independent timeshare company, with more than 340,000 vacation-owning households and upwards of $500 million in annual timeshare sales.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.