Cendant Corp., the world’s largest hotel franchiser, has reached an agreement to purchase Redmond, Wash.-based timeshare resort developer Trendwest Resorts Inc. for approximately $900 million. New York-based Cendant will issue 48.3 million to 55.4 million shares for a share price of between $16.15 and $18.50.

The acquisition will enable Cendant to expand its timeshare operations into the western United States, Hawaii, Mexico, British Columbia and the South Pacific. Cendant’s existing timeshare operations — Fairfield Resorts and Equivest — are located primarily in the eastern United States.