Wyndham Destinations

Wyndham Destinations, Inc.

Formerly	Wyndham Worldwide Corporation (2006–2018)
Type	Public
Traded as	NYSE: WYND S&P 400 component
Industry	Hospitality
Founded	July 8, 2006
Headquarters	Orlando, Florida, U.S.
Key people	Michael D. Brown (President & CEO)[1]
Products	Hotels, resorts
Revenue	US$5.07 billion (2017)[2]
Operating income	US$712 million (2017)[2]
Net income	US$871 million (2017)[2]
Total assets	US$10.4 billion (2017)[2]
Total equity	US$878 million (2017)[2]
Number of employees	25,000 (2017)
Subsidiaries	RCI
Website	wyndhamdestinations.com
Footnotes / references [3][4]

Wyndham Destinations (formerly Wyndham Worldwide Corporation) is an American hospitality company. It is the holding company for RCI and other lodging brands. It was spun off from Cendant Corporation in July 2006. Wyndham Destinations, headquartered in Orlando, Florida,^[5] operates several hotel brands around the world.^[6]

Wyndham Hotel Group

Wyndham Hotel Group offers brands in lodging franchising, vacation ownership, vacation rentals and vacation exchange. It is composed of more than 9,000 hotels under 21 brands spanning more than 75 countries in six continents, competing in brand markets ranging from economy to upscale. Wyndham Worldwide is headquartered in Orlando, Florida and has more than 40,000 employees around the world.^[7] Lodging management services are provided to upscale properties through Wyndham Hotel Management.

In early 2008, Global Hyatt Corporation announced that Wyndham Destinations would purchase US Franchise Systems, Inc., owner of the Microtel and Hawthorn Suites brands, for $150 million. The transaction closed July 21, 2008. US Franchise Systems had previously sold the America's Best Inn (formerly Best Inns) chain to the Country Hearth Inns chain in 2005. That holding company is now known as America's Best Franchising Inc.

Wyndham bought the Wisconsin-based Exel Inn chain in 2008, and converted all 22 of its properties to Wyndham brands.^[8]

In 2010, Wyndham Destinations acquired the TRYP hotel brand from Sol Meliá Hotels & Resorts of Spain. The brand, subsequently renamed Tryp by Wyndham, is positioned as a "select-service, midmarket" brand representing approximately 13,000 rooms and caters to business and leisure travelers in cosmopolitan cities including Madrid, Barcelona, Paris, Lisbon, New York, Frankfurt, Montevideo, Buenos Aires, São Paulo, Istanbul, etc.^[9]

In late 2016, Wyndham Hotel Group announced its acquisition of Latin America's leading Fën Hotels, adding 26 management contracts across Argentina, Peru, Costa Rica, Uruguay, Paraguay, Bolivia, and the U.S. including two new Fën-built Wyndham Grand hotels opening in Montevideo, Uruguay, and Asunción, Paraguay. With the addition of Fën Hotels’ signature Esplendor Boutique Hotel and Dazzler Hotel brands, Wyndham Hotel Group’s portfolio of distinct brands grew to 18. ^[10]

In the summer of 2017, Wyndham Hotel Group announced plans to acquire the Minnesota-based AmericInn hotel brand and its management company, Three Rivers Hospitality, from Northcott Hospitality for $170 million. AmericInn’s portfolio consisted of 200 primarily franchised hotels with approximately 11,600 rooms in 21 states, predominately in the Midwestern U.S., Ohio Valley, and Mountain states including Minnesota, Wisconsin, Iowa, Michigan, and North Dakota.^[11]

In October 2017, Wyndham launched its first soft brand product, the Trademark Hotel Collection, a collection of more than 50 upper-midscale-and-above hotels in Europe and the U.S.^[12]

In late 2017, Wyndham Hotel Group announced an agreement with American Hotel Income Properties REIT Inc. (AHIP) to convert 44 existing hotels across the U.S. to Wyndham’s Baymont Inn & Suites, Travelodge, and Super 8 brands. Furthermore, AHIP has also newly acquired two additional hotels joining the Wyndham portfolio. The agreement boosted the company’s already strong presence in the U.S. midscale and economy hotel landscape with locations near Nashville, Tenn.; Kansas City, Kan.; Jefferson City, Mo.; Lincoln, Neb.; and Buffalo, N.Y.^[13]

In January 2018, Wyndham Hotel Group announced that they have entered into a definitive agreement under which Wyndham Destinations will acquire La Quinta Holdings hotel franchise and hotel management businesses for $1.95 billion in cash. The acquisition is expected to close in the second quarter of 2018. With the acquisition of La Quinta’s asset-light, fee-for-service business consisting of nearly 900 managed and franchised hotels, Wyndham Hotel Group will span 21 brands and over 9,000 hotels across more than 75 countries.^[14]

On June 1, 2018, Wyndham Worldwide split into two publicly traded companies: Wyndham Destinations will focus on vacation ownership resorts, while the hotels and resorts will be spun off into Wyndham Hotels and Resorts, Inc.^[15]

Wyndham Vacation Ownership

Wyndham Vacation Ownership, headquartered in Orlando, Florida, is the largest vacation ownership program in the world.^[19] It includes a network of 213 properties, 25,000 individual units, and over 925,000 property owners.^[20] Locations are in North America, the Caribbean, and the South Pacific. Wyndham Vacation Ownership includes marketing and sales of vacation ownership interests, consumer financing in conjunction with the purchase of vacation ownership interests, property management services to property owners' associations, and development and acquisition of vacation ownership resorts.^[20]

Wyndham Destination Network

Wyndham Exchange and Rentals officially changed its name to Wyndham Destination Network on January 1, 2016, and operates over 110,000 vacation properties worldwide in more than 100 countries.^[22]

Sales Practices

Wyndham has been the focus of several investigations regarding their sales practices. Most recently in Pennsylvania . The Real Estate Commission for Pennsylvania fined Wyndham and their broker at their Shawnee-on-Delaware location, Craig Roberts, a total of $15,000. Eight months earlier, Wyndham settled similar allegations in Wisconsin paying $655,000 in restitution to 29 consumers. A San Francisco jury awarded $20 million to Trish Williams, a former Wyndham timeshare sales representative, who was wrongfully terminated for reporting timeshare fraud on the elderly (San Francisco Superior Court Case No. CGC-12-526187). The verdict, read late on Thursday, November 17, 2016 …

References

External links

• Official website

• • Business data for Wyndham Destinations: Google Finance
  • Yahoo! Finance
  • Bloomberg
  • Reuters
  • SEC filings