Deals
Wyndham to Spin Off Hotels, Seek Options for European Brands
- Timeshare business to be a separate publicly traded company
- Transaction is ‘best structure’ to unlock value, CEO says
A Wyndham Worldwide Corp. Hotel
Photographer: Christopher Dilts/BloombergThis article is for subscribers only.
Wyndham Worldwide Corp., owner of the Ramada and Days Inn brands, said it will spin off its hotel unit into a new publicly traded company and consolidate its timeshare business while exploring strategic alternatives for its European rental brands.
The company will split into Wyndham Hotel Group, based in Parsippany, New Jersey, and Wyndham Vacation Ownership, headquartered in Orlando, Florida, the company said Wednesday. The latter will be combined with Wyndham Destination Network, which includes the RCI timeshare exchange network. The names of the post-split companies haven’t been decided.