Begins Trading as WYN
|PARSIPPANY, N.J., Aug. 1, 2006 - In a move that will create one
of the world's largest publicly traded hospitality companies, Wyndham Worldwide
Corporation today will spin off from Cendant Corporation and begin trading
on the New York Stock Exchange under the symbol WYN.
Wyndham Worldwide, which became a member of Standard & Poor's S&P 500 index this week, is a global leader in leisure travel accommodations and a major provider of products and services to business-to-business customers. Its three business segments include:
Wyndham Worldwide meets the diverse needs of today's travelers by offering accommodations in more than 100 countries on six continents, from economy roadside motels and suburban midscale hotels to upscale center-city hotels and from country vacation rental properties to vacation ownership resorts in major destinations.
"Wyndham Worldwide has a deep and broad market presence, a long operating
history and an extremely experienced management team," Holmes said. "We
anticipate enhancing shareholder value by continuing to focus on the evolving
needs of travelers and offering the greatest choice in business and leisure
accommodations, destinations and experiences."
Wyndham Worldwide Chairman, President and Chief Executive Officer Stephen P. Holmes and members of his senior leadership team
celebrate as Wyndham Worldwide begins trading on the New York Stock Exchange under the symbol WYN.
The NYSE listing follows completion of the distribution of all Wyndham Worldwide common shares to Cendant shareholders at a ratio of one Wyndham Worldwide share for every five Cendant shares held on July 21, 2006.
As one of the world's largest hospitality companies, Wyndham Worldwide (NYSE: WYN) offers individual consumers and business-to-business customers a broad suite of hospitality products and services across various accommodation alternatives and price ranges through its premier portfolio of world-renowned brands. Wyndham Hotel Group encompasses more than 6,300 franchised hotels and 525,000 hotel rooms worldwide. RCI Global Vacation Network offers its more than 3 million members access to approximately 55,000 vacation properties located in more than 100 countries. Wyndham Vacation Ownership develops, markets and sells vacation ownership interests and provides consumer financing to owners through its network of more than 140 vacation ownership resorts serving more than 750,000 owners throughout North America, the Caribbean and the South Pacific. Wyndham Worldwide, headquartered in Parsippany, N.J., employs approximately 28,800 employees globally.
Wyndham Worldwide Corporation
|Also See:||Cendant Corp.Splitting Itself into Four Separate Public Companies - The Cendant Name Will be Retired; Stephen Holmes Will Head the Hotel and Timeshare Spinoff / October 2005|
|Cendant Hotel Group to Merge the AmeriHost Inn Franchise System into the Baymont Inn & Suites Brand; To Expedite the Rebranding Cendant Offering AmeriHost Inn Franchisees Free Leases for New Exterior Signage / April 2006|