Wyndham Worldwide announced plans to spin off the company’s hotel business, resulting in two separate, publicly traded companies. Wyndham Hotel Group, with headquarters in Parsippany, NJ, will become a new, publicly traded pure-play hotel company with a portfolio of renowned brands. The other publicly traded company will include Wyndham Vacation Ownership, with headquarters in Orlando, Florida, the world’s largest publicly traded timeshare company and Wyndham Destination Network, home to RCI, the world’s largest timeshare exchange company. The corporate names of the post-spin public companies have not yet been decided.
The two public companies intend to enter into long-term exclusive license agreements to retain their affiliation with one of the industry’s top rated loyalty programs, Wyndham Rewards, as well as continued collaboration on key inventory sharing and customer cross-sell initiatives.
With 18 brands and over 8,100 hotels, Wyndham’s hotel business is the world’s largest hotel company by number of properties. It is home to an industry-leading loyalty program with more than 50 million members, and is emerging from a three-year strategic focus on improved brand quality, distribution technology, and brand marketing. Anchored by iconic hotel brands including Days Inn and Super 8, the future asset-light, fee-for-service hotel company is poised to build on its leading position in the economy and midscale segments, while growing its upscale portfolio and management business.