Group RCI, a leisure real estate company, today announced that Palace Resorts has renewed an affiliation agreement for RCI’s vacation ownership exchange services. The agreement extends the relationship that was originally established in the early 1980’s and includes nine existing resorts and future development. Group RCI is a subsidiary of Wyndham Worldwide (NYSE:WYN), a Parsippany-based hospitality company.
Palace Resorts, a Miami-based resort operator, is currently developing its 10th and 11th properties: Isla Mujeres Palace in Mexico, a 60-unit project, and Moon Palace Casino, Golf & Spa Resort, a 1,743-room property that is under construction in Punta Cana, Dominican Republic. Once completed, both resorts will be incorporated into the RCI long-term affiliation agreement.
Shares of Wyndham traded at $31.15 late Friday morning. |
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