PARSIPPANY, NJ-Wyndham Worldwide, headquartered here, is purchasing ResortQuest for $56 million. The acquisition, expected to close in the third quarter, will bring Wyndham’s total for vacation rental properties to 85,000 throughout 100 countries.

"Since 2000, we have successfully acquired at least 30 European rental brands, creating what today represents the leading serviced rentals business in Europe, with 2009 revenues of $460 million,” says Stephen P. Holmes, chairman and CEO, Wyndham Worldwide, in a statement. “Building upon this success, the acquisition of ResortQuest gives us a unique opportunity to build a sizable growth platform in the US rentals market, a $10-billion industry that currently lacks a significant player.”

Fort Walton, FL-based RealQuest provides full-service vacation condominiums and rentals and will add 6,000 properties to Wyndham’s portfolio. Wyndham Worldwide operates a variety of brands including Super 8 Motels, Travelodge, Wingate Inn, Howard Johnson, Wyndham Hotel & Resorts and Days Inn. Wyndham did not return GlobeSt.com inquiries by deadline.