Wyndham Timeshare And Hotels Part Ways
Wyndham Worldwide has announced plans to split the company’s timeshare business away from its hotels within the first half of 2018.
The Wyndham hotel group which operate 8,100 hotels across 8 hotel brands, will split from Wyndham Timeshare to form a new publicly traded company. This decision to break up the companies is said to improve the flexibility of both of the companies allowing for a sharper focus on business to drive growth and shareholder value whilst the two companies will have significant scale and leadership positions within their industries to better respond to developments within their respective markets.
The hotel and timeshare companies still plan to license joint agreements to run their loyalty programme Wyndham Rewards and cross-sell across the properties. The new corporate names of the spin-off public companies have not yet been announced.
Wyndham timeshare shareholders will only be effected through a pro-rata distribution of the new hotel companies stock. The two companies will now have their own board of directors with Stephen Holmes, the current chairman and CEO of Wyndham Worldwide acting as non-executive chairman of both companies.
Wyndham’s announcement follows a similar move from its competitor Marriott International, that also split their timeshare business from the hotels once demand cooled. However, Wyndham timeshare reported a grown in sales at a faster rate than its hotel business in the previous quarter. Wyndham timeshare unit manages over 220 properties across the world.
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