Hotel Online  Special Report


Wyndham Worldwide Spins Off From Cendant, 
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 Hotel Group, one of the world's largest hotel franchisors and a provider of hotel management services;
  • RCI Global Vacation Network, operator of the world's largest vacation exchange network and one of the largest vacation rental networks; and
  • Wyndham Vacation Ownership, the world's largest developer of vacation ownership resorts in terms of owners and resorts.
"This is an exciting day that immediately establishes Wyndham Worldwide as a leading, pure-play hospitality business with a strong and diverse portfolio of global brands that are widely recognized by consumers, business travelers and partners," said Stephen P. Holmes, Wyndham Worldwide chairman and chief executive officer.

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.

Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The statements followed by the word "anticipate," are generally forward-looking in nature and not historical facts.


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

To search Hotel Online data base of News and Trends Go to Hotel.Online Search

Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.