�This is another important step in our strategy of concentrating primarily on owned and managed upscale and luxury properties,� said Fred Kleisner, president and chief executive officer of Wyndham. �The price was attractive to both sides, and we plan to use the proceeds to reduce debt and to reinvest in our core businesses. With the closing of this transaction, we will have divested approximately $300 million in non-core assets this year. We are delighted that MWB will be operating Malmaison and we will continue to be involved in developing new properties under the Malmaison brand.�
The transaction is expected to close by year-end.

Malmaison currently has hotels in Leeds, Manchester, Newcastle, Glasgow and Edinburgh, with hotels planned in Birmingham and London. Long considered the innovator in the development of lifestyle hotels, Malmaison was the U.K. hotel group of the year in 1999. Each hotel features 80-120 guest rooms.

Wyndham International, Inc. (NYSE:WYN) offers upscale and luxury hotel and resort accommodations through proprietary lodging brands and a management services division.  

This press release contains certain forward-looking statements within the meaning of Sections 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including projections about future operating results.