Interval Leisure Group bought the Honolulu-based Aqua Hospitality and Aqua Hotels and Resorts on Thursday. Interval subsidiary Vacation Holdings Hawaii, which also owns Hawaii’s Aston Hotels & Resorts, made the deal for the 28-hotel portfolio for an undisclosed amount.
Aqua Hospitality currently manages 26 properties in Hawaii and two on Guam, while Aston Hotels and Resorts manages 24 properties, giving Vacation Holdings Hawaii 50 Hawaii-managed hotel, resort and condominium properties.
Vacation Holdings Hawaii President Kelvin Bloom told HOTELS on Friday the two companies will continue to operate separately, but will deliberately develop synergies to operate and market more efficiently. He added these hotels will not be added to Interval’s timeshare portfolio.
Bloom also said Interval will continue to source hotel management deals both inside Hawaii and around the United States. While he could not offer specifics, he said several deals are in the pipeline. “The combined companies give us a platform for growth in the States, and potentially internationally,” Bloom said.
Last month, Interval and and CLC World Resorts & Hotels completed a joint venture to establish VRI Europe Ltd., a resort management company in the UK. The new entity is also acquired CLC World’s European shared ownership resort management business.