NEW YORK and HONG KONG, February 1, 2024 – Proskauer, a leading international law firm, today announced that it advised longtime client, Accor SA (AC:FP), in the sale of Accor Vacation Club, its vacation-ownership business, to Travel + Leisure Co. (NYSE:TNL)(“T+L”), the world’s leading membership and leisure travel company. Proskauer advised on the long-term agreement for the licensing and restrictive covenants arrangements between the parties.

Under the terms of the deal, T+L will acquire Accor Vacation Club’s assets, which represent 24 resorts across Australia, New Zealand and Indonesia, and nearly 30,000 members. The transaction aligns with Accor’s asset-light strategy and will allow the organization to monetize existing businesses, enhance recurring-fee streams and support the continued growth of their franchised hotel network across Asia-Pacific.

The Proskauer team advising Accor was led by partner Yuval Tal and senior legal consultant Cynthia Cheng, and included partner Jeffrey Horwitz (M&A and Hospitality).

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