Wyndham Destinations, Inc. (NYSE:WYND) acquired Travel + Leisure brand from Meredith Corporation (NYSE:MDP) for $100 million on January 5, 2021. Under the agreement, the Orlando, Fla.-based timeshare company will initially pay $35 million in cash at closing, followed by payments through 2024. Wyndham Destinations plans to change its name to Travel + Leisure Co. and trade under the ticker symbol “TNL” as of mid-February, 2021. The combined company would have 18 resort, travel-club and lifestyle-travel brands. Meredith will continue publishing Travel + Leisure under a 30-year renewable licensing agreement, with the Travel + Leisure staff remaining as Meredith employees. The acquisition is expected to begin adding to Wyndham's earnings in the second year. The acquisition is expected to be neutral to earnings for the new Travel + Leisure Co. in year one and accretive in year two. Deutsche Bank Securities Inc. acted as financial advisor and Carlo Zenkner, Jonathan L. Davis P.C, Adam V. Petravicius, Shellie Weisfield Freedman, Seth Traxler, P.C., and Sara B. Zablotney of Kirkland & Ellis LLP acted as legal advisor to Wyndham Destinations, Inc. Cooley LLP acted legal advisor to Meredith Corporation.

Wyndham Destinations, Inc. (NYSE:WYND) completed the acquisition of Travel + Leisure brand from Meredith Corporation (NYSE:MDP) on January 5, 2021.