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Wyndham Worldwide Completes Spin-Off Of Wyndham Hotels & Resorts; Becomes Wyndham Destinations

June 7, 2018 Hotel Developments No Comments Email Email

Wyndham Destinations, Inc. (NYSE: WYND), formerly known as Wyndham Worldwide Corporation, today announced that it has completed the spin-off of Wyndham Hotels & Resorts, Inc. (NYSE: WH) to become the world’s largest vacation ownership and exchange company. Wyndham Destinations now trades on the New York Stock Exchange under the new symbol “WYND.”

Wyndham Destinations has a global presence in 110 countries at more than 220 vacation ownership resorts and 4,300 affiliated exchange properties.

“Over the past decade, we have built the world’s largest vacation ownership and exchange company thanks to the hard work of our employees and the loyalty of our customers,” said Michael D. Brown, president and chief executive officer for Wyndham Destinations. “We are excited to move forward as a focused, pure-play company with a leading market position and significant growth opportunities. With our experienced management team, robust sales and marketing platform, and increased financial flexibility, we look forward to providing our owners and guests with great vacation experiences and delivering value for our shareholders in the years to come.”

Wyndham Destinations expects to file a Form 8-K report with the U.S. Securities and Exchange Commission containing unaudited pro forma condensed consolidated financial statements reflecting the impact of the spin-off.

“Every year 3.5 million families entrust us with their vacation dreams. Through our unique brands, flexible ways to explore, and more destinations than anyone else, we make it easy to experience and enjoy the most amazing vacations around the globe,” Brown said. “Our associates have a pioneering ‘test and invest’ culture that keeps us at the forefront of change which will fuel our growth and innovation.”

As previously announced, Wyndham Worldwide common stockholders of record as of the close of business on May 18, 2018, the record date for the distribution, received one share of Wyndham Hotels & Resorts, Inc. common stock for each share of Wyndham Worldwide common stock held by such stockholder on the record date.

Our World is Your Destination

A vacation means the freedom and power to choose—where you go, who you go with and what you do when you get there. As the world’s largest vacation company, Wyndham Destinations provides access to unlimited possibilities to inspire your next vacation. Wherever your dream destination, wherever you see yourself—we help you get there. Visitwyndhamdestinations.com to learn more about the vacation brands in the company’s portfolio.

A Hospitality Industry Leader Built on Strong and Experienced Leadership

The Wyndham Destinations senior leadership team includes:

Michael D. Brown, president and chief executive officer
Michael Hug, chief financial officer
James Savina, general counsel
Kimberly Marshall, chief human resources officer
Brad Dettmer, chief information officer
Noah Brodsky, chief brand officer
Gordon Gurnik, president, RCI Exchanges
Mary Lynn Clark, president, Wyndham Vacation Rentals
Jeff Myers, chief sales and marketing officer, Wyndham Vacation Clubs
Geoff Richards, chief operating officer, Wyndham Vacation Clubs
Barry Robinson, president and managing director, international operations, Wyndham Vacation Clubs

On June 5, 2018, Wyndham Destinations executives will celebrate the creation of the new company by ringing the opening bell at the New York Stock Exchange at 9:30 a.m. ET. Footage of the bell ringing will be available live on NYSE’s website.

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