RCI, part of the Wyndham Worldwide, has confirmed the acquisition of London-based Love Home Swap.
The time share giant said the purchase “adds a company that complements its existing business, broadens its appeal to a new base of holidaymakers and strengthens its position as a leader within the global alternative holiday accommodation sector”.
Gordon Gurnik, president of RCI said: “Since first pioneering the vacation exchange concept more than 40 years ago, RCI has continually found new ways to evolve and grow its own business while also propelling the exchange industry further.
“Through this acquisition we expand the exchange options we offer travellers and strengthen our footprint in key growth markets across the globe.”
RCI said Love Home Swap will benefit from the expertise it has developed over the past four decades, including inventory management, member marketing and analytics.
It added the company will also enjoy the added resources that come with being part of a global hospitality leader, along with potential access to its portfolio of accommodation options around the world.
Love Home Swap will continue to run as an independent brand and be marketed separately from RCI.
However, the tie-up will allow for greater collaboration between the companies to drive growth and provide future travel benefits to their respective members, said RCI.
RCI’s acquisition of Love Home Swap builds on a previous investment in the company in 2015.
Love Home Swap founder, Debbie Wosskow, will stay on as an advisor to ensure a smooth transition into the RCI family.
Ben Wosskow, formerly chief commercial officer, has been appointed to managing director and will oversee the daily operations of the business.
“I’d like to thank the team and everyone involved in driving Love Home Swap forward,” said Debbie Wosskow.
“Dedication and hard work has yielded fantastic results in a short space of time and this is a real global success story for the UK sharing economy.
“We’re delighted to join the RCI family and are excited to work closely with them to help shape the future of the travel industry together.”