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Print After more than a half-century of family ownership, the Welk Resorts portfolio, including the original Escondido location, is being sold to Marriott Vacations Worldwide Corporation for $430 million. Once the still pending sale is finalized — by early in the second quarter — Marriott says it plans to rebrand the Welk vacation resorts in California, Colorado, Missouri, New Mexico and Cabo San Lucas as Hyatt Residence Club properties. The purchase price includes roughly 1.4 million Marriott Vacations common shares. The acquisition represents a major milestone for a company started 57 y...

Reply Marriott intends to rebrand the Welk resorts in California, Colorado, Missouri, New Mexico and Cabo San Lucas, Mexico, as Hyatt Residence Club properties. (Shutterstock / sockagphoto) SAN MARCOS, CA — Locally owned Welk Hospitality Group has entered into an agreement to sell the Welk portfolio of vacation resorts, programs and property management contracts to Marriott Vacations Worldwide Corp. for about $430 million, it was announced Tuesday. "It is bittersweet after 57 wonderful years of memories and accomplishments to be welcoming a new owner for Welk Resorts," said Jon Fredricks, W...

Share this article Share this article SAN MARCOS, Calif., Jan. 26, 2021 /PRNewswire/ -- Welk Hospitality Group has entered into an agreement with Marriott Vacations Worldwide Corporation ("MVW") (NYSE: VAC) to sell the Welk Resorts portfolio of vacation resorts, programs and property management contracts for approximately $430 million, including approximately 1.4 million MVW common shares. The acquisition is expected to close early in the second quarter of 2021.    Famous television bandleader Lawrence Welk, host of The Lawrence Welk Show from 1951 to 1982, and beloved name...