Wyndham Hotels & Resorts debuts as independent public company

It completes spin-off from Wyndham Worldwide

Operators

Wyndham Hotels & Resorts has revealed that it has completed its spin-off from Wyndham Worldwide Corporation, which has been renamed Wyndham Destinations.  The news of its spin-off was first reported in August 2017

Wyndham Hotel Group, with headquarters in Parsippany, New Jersey, has become a new, publicly traded pure-play hotel company with a portfolio of brands. Wyndham Vacation Ownership, with headquarters in Orlando, Florida, will be the world’s largest publicly traded timeshare company and will be joined with Wyndham Destination Network, home to RCI, the world’s largest timeshare exchange company.

"We're thrilled to begin a new era in which we will continue to build upon our powerful asset-light and fee-based business model that is driven by an exceptional portfolio of market-leading economy and midscale brands," said Geoff Ballotti, chief executive officer of Wyndham Hotels & Resorts.  

Did you like this story?
Click here for more

"As the world's largest hotel franchisor with a proven ability to create value through acquisitions and organic growth, we will focus on strengthening our industry-leading loyalty and technology platforms to drive more direct distribution to our owners and franchisees at a lower cost, while serving everyday travellers exceptionally well," Ballotti said in a release.

As previously announced, Wyndham Worldwide common stockholders received one share of Wyndham Hotels & Resorts common stock for each share of Wyndham Worldwide common stock held on May 18, 2018.  Following the spin-off, Wyndham Hotels & Resorts has approximately 100 million shares outstanding.

 

For all the latest hospitality news from UAE, Gulf countries and around the world, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page.

Most Popular

Newsletter

Reports

Human Capital Report 2017

Human Capital Report 2017

The second annual Hotelier Middle East Human Capital Report is designed to explore the issues, challenges and opportunities facing hospitality professionals responsible for the hotel industry’s most important asset – its people. The report combines the results of Hotelier Middle East's HR Leaders Survey with exclusive interviews with the region's senior human resources directors.

Hotelier Middle East Housekeeping Report 2016

Hotelier Middle East Housekeeping Report 2016

The Hotelier Middle East Housekeeping Report 2016 provides essential business insight into this critical hotel function, revealing a gradual move towards the use of automated management and a commitment to sustainability, concerns over recruitment, retention and staff outsourcing, and the potential to deliver much more, if only the industry's "image problem" can be reversed.

From the edition

From the magazine