Marriott Vacations Worldwide Corporation (NYSE:VAC) entered into an agreement to acquire Welk Hospitality Group, Inc for approximately $430 million on January 26, 2021. The transaction will be implemented through a two-step merger, where under the first step, Welk Hospitality Group will operate as a wholly owned subsidiary of Marriott Vacations and upon second step of merger, Champagne Resorts Inc. will continue as the surviving entity with Welk Hospitality Group, shedding away its corporate existence. The consideration of $430 million is composed of $234 million in cash and approximately 1.4 million MVW shares. As part of acquisition, Marriott Vacations, along with Welk Resorts portfolio of vacation resorts and programs, is also acquiring property management contracts. Marriott Vacations intends to rebrand the Welk-branded vacation resorts in California, Colorado, Missouri, New Mexico and Cabo San Lucas, Mexico as Hyatt Residence Club properties. The acquisition is subject to customary closing conditions including regulatory approvals, antitrust regulations, approval of the board of Marriott and Welk, approval of Marriott shareholders, execution of indemnification and escrow agreements and the shares of Marriott common stock to be issued as stock consideration shall have been approved for listing by the NYSE subject to notice of issuance. It is expected to close early in the second quarter of 2021. Timothy R. Aragon and Carine Stoick of Hogan Lovells acted as legal advisors and Baker Tilly acted as accountant to Welk. Merrill Lynch, Pierce, Fenner & Smith Incorporated acted as financial advisors to Welk. JPMorgan Chase Bank, National Association (BDL:166810345) acted as financial advisor to Marriott. John Melicharek of Baker & Hostetler LLP acted as legal advisor to Marriott. BofA Securities acted as a financial advisor to Welk Hospitality Group in the deal. Marriott Vacations Worldwide Corporation (NYSE:VAC) completed the acquisition of Welk Hospitality Group, Inc for approximately $490 million on April 1, 2021.