Hilton Head resort company to be bought in multi-million-dollar deal. Here’s what we know
The company behind six Hilton Head Island resorts will be acquired by an Orlando, Florida-based, vacation timeshare company.
Spinnaker Resorts reached a definitive agreement with Leisure + Travel Co. in which Spinnaker will be acquired by the third quarter of 2026, according to a press release from Leisure + Travel. Spinnaker owns and operates Bluewater Resort, Egret Point, Carolina Club, Southwind, The Cottages, and Waterside on Hilton Head. Leisure + Travel announced the acquisition alongside its buyout of Yes& Vacations, with a combined total cost of $343 million.
What is Spinnaker Resorts?
Spinnaker Resorts is a Hilton Head-based vacation rental and timeshare company started by Canadians Ken and Joan Taylor, according to the brand’s website. The Taylors built their first Hilton Head development in 1983: The Spinnaker at Shipyard. Spinnaker would open its first Hilton Head resort in 1987.
Ken Taylor remains president of the company today. Spinnaker also owns resorts in Branson, Missouri, Ormond Beach, Florida, and Williamsburg, Virginia. Its latest Hilton Head development was the Bluewater resort in 2008.
What is Leisure + Travel Co.?
Leisure + Travel Co. is a “global vacation company,” which operates over 280 vacation resorts around the world under a portfolio of resort brands, according to its website. Much like Spinnaker, Leisure + Travel owns both vacation rentals and timeshare properties. Over 800,000 families own timeshares at their locations.
Major timeshare and resort brands including Club Wyndham, Margaritaville Vacation Club, WorldMark and Sports Illustrated Resorts are under Leisure + Travel’s portfolio, according to its website. It also publishes Travel + Leisure magazine, operates a travel-booking membership program, and operates a business travel platform.
What’s in the deal?
Travel + Leisure Co.’s press release puts the combined cost of its purchase of Yes& and Spinnaker at $343 million, but the individual cost of the Spinnaker acquisition is not stated in the release. The acquisition increases Travel + Leisure’s timeshare properties by 10%, and Hilton Head is one of Travel + Leisure’s most sought after destinations, according to the press release.
The Island Packet contacted Travel + Leisure Co. about the acquisition. Travel + Leisure Co. declined to comment on the deal reached with Spinnaker Resorts.