Travel + Leisure closes Yes& Vacations acquisition, agrees to buy Spinnaker Resorts for combined upfront price of $343 million

The transactions add 23 resorts and expand the owner base by more than 100,000, strengthening the company’s presence in Maui and Hilton Head.

Net capital deployed is expected at about $263 million after securitizing roughly $80 million of consumer financing receivables.

Travel + Leisure expects full-year contribution of about $50 million of adjusted EBITDA, with year-end leverage projected at 3.2x.

The Spinnaker Resorts purchase is set to close in Q3 2026; contingent performance-based payments can reach $10 million.

Travel + Leisure closed its acquisition of Yes& Vacations, part of a combined $343 million deal with Spinnaker Resorts.