The acquisition is expected to close in the second quarter of 2021, at the close of the deal all Welk Resort properties will be rebranded Hyatt Residence Club properties. In 2021, Welk Resort Group entered into an agreement to be acquired by Marriott Vacations Worldwide Corporation for $430 million. The group is currently headed by Jon Fredricks, grandson of Lawrence Welk. Ownership of the business has remained primarily with the Welk family, with seven family members and a former company president sharing 88 percent of ownership, along with 12 percent owned by employees through an employee stock ownership plan. ĭuring the 50 years since the company's formation, the company has developed five luxury resorts with over 1000 vacation ownership accommodations. As the initial property expanded, Larry Welk, a record company executive and Lawrence Welk's son, became the group's first CEO and guided the company into the timeshare business in the 1980s. Lawrence Welk Village was where Welk actually lived in a rather affluent 'cottage. After the entertainer staged one of his shows at the site, it gained in popularity for tourism, eventually growing to include a theater, more golf, and vacation homes. From concerts, to live productions, and even large conferences, competitions and pageants, The Welk Resort Theatre provides the perfect venue for any live event.
The property included a golf course, motel, and mobile home community. Looking for delivery or restaurant take out near Lawrence Welk Theater Right over here Order online from local favorite restaurants in Escondido and. The Welk Resort Theatre is a 2200 seat venue that has hosted the biggest names in entertainment. In 1964, Welk purchased 900 acres (360 ha) of mostly undeveloped land near Escondido, California, 20 miles (32.2 km) north of San Diego.